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This dissertation contributes to the long-standing debate between those who argue that the enclosure of the commons was as a precondition to foster economic growth and those who defend common property regimes can be efficient and sustainable. Exploiting historical evidence from 19^th century and early 20^th century Spain, this research shows that the persistence of the commons in some Spanish regions was not detrimental to economic development, at least relative to the institutional arrangements they were replaced with. On the contrary, during the early stages of modern economic growth, the communal regime not only did not limit agricultural productivity growth, but indeed constituted a crucial part of the functioning of the rural economics in a number of ways. On the one hand, these collective resources complemented rural incomes and, subsequently, sustained households' consumption capacity. The reduction in life expectancy and heights in the provinces where privatisation was more intense, as well as the negative effect on literacy levels, strongly supports that the privatisation of the commons deteriorated the living standards of a relatively large part of the population. On the other hand, the communal regime also significantly contributed to financing the municipal budget. Deprived from this important source of revenue, local councils became unable to adequately fund local public goods and ended up increasing local taxes. Lastly, the social networks developed around the use and management of these collective resources facilitated the diffusion of information and the building of mutual knowledge and trust, thus constituting a vital ingredient of the social glue that hold these rural communities together. All things considered, the persistence of the commons in some regions provided peasants with cooperation mechanisms different from the market and made the transition to modern economic growth more socially sustainable.

The changing character of the economic environment in the last quarter of the twentieth century has resulted in a continuous process of restructuring in the economy of Spain, mediated through the structure and regulatory framework of the economy. Three specific themes contributing to restructuring are addressed: globalisation of the economy, European integration, and the role of the public sector. Globalisation ofthe economy is demonstrated through increased international flows of goods, capital, people and information, and by the incorporation of businesses in Spain within the corporate networks of foreign multinational companies. Spanish businesses too have been extending their global reach, especially into Latin America. European integration has been part of the globalisation process. A substantial proportion of international flows are now concentrated within the European Union and business networks have been adapting to the 'Single European Market'. European integration has dominated economic policy, first in measures to secure membership of the European Economic Community, then in measures to adjust to the regulatory environment of the European Community and finally in the race to achieve the Maastricht criteria. The role of the public sector in restructuring has been to 'manage' the market forces unleashed by the liberalisation ofthe economy. Market forces, embracing increased competition and technological change, have driven the restructuring process demanding responses from the government. These responses have increasingly been constrained by the shedding of responsibilities upwards to international organisations and downwards to lower tiers of administration. Isolation, protection and goverrunent intervention in the economy have given way to a more liberal, open and international environment. Transformation in the mode of regulation from state corporatism to neo-liberalism has been accompanied by globalisation of the economy, particularly integration into the European economy and the corporate space of multinational companies. Nevertheless, despite the growing emphasis on globalisation, public policy continues to play a crucial role influencing the pace, if not the direction, of restructuring.