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http://ssrn.com/abstract=1151495
 
 

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Multinational Enterprises and Institutional Regulation in the Life-Insurance Market in Spain, 1880-1935


Jeronia Pons Pons


affiliation not provided to SSRN


Business History Review, Vol. 82, No. 1, 2008

Abstract:     
The number of multinationals in the life-insurance sector expanded during the first era of globalization. Many of these firms gravitated to Spain, attracted by factors such as the country's small number of national companies and minimal regulatory requirements. Toward the end of the nineteenth century, however, the Spanish government began to impose more institutional regulations, increasing the guarantees, deposits, and reserves required of insurance companies. In response, American and British multinationals began to leave the Spanish market, propelled both by the new requirements and by a series of external factors that obliged American companies to reduce their international business. Finally, the economic disruption that accompanied the outbreak of World War I convinced American and British multinationals to withdraw from the Spanish insurance business.

Keywords: life insurance, multinationals, Spain, globalization, regulation

JEL Classification: G22, G28, F23, N83

Accepted Paper Series


Not Available For Download

Date posted: June 27, 2008  

Suggested Citation

Pons Pons, Jeronia, Multinational Enterprises and Institutional Regulation in the Life-Insurance Market in Spain, 1880-1935. Business History Review, Vol. 82, No. 1, 2008. Available at SSRN: http://ssrn.com/abstract=1151495

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Business History Review (Contact Author)
Unaffiliated Authors
Jeronia Pons Pons
affiliation not provided to SSRN
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