Against the Grain: Spanish Trade Policy in the Interwar Years

This is the replication file for the paper: Against the Grain: Spanish Trade Policy in the Interwar Years. We evaluate Spanish trade policy in the face of domestic challenges and external shocks in the interwar period. Our narrative draws on a new granular dataset on exports, imports, and country-level information on tariffs, trade agreements, and quotas. Into the Depression, the mainstay of policy was the tariff. The establishment of the Second Republic in 1931 was a turning point in policymaking. The Republic initiated reciprocal bilateral exchanges. But Spain was hardpressed to find countries willing to exchange market access. In a daunting international environment, the Spanish case offers a cautionary tale of the perils of going against the grain.