Resumen: This paper examines the effect of the Spanish Civil War (1936–1939) shock on city shares of population applying the methodology proposed by Davis, D. R., and D. E. Weinstein. 2002. “Bones, Bombs, and Break Points: The Geography of Economic Activity.” The American Economic Review 92 (5): 1269–89. We make use of an unexploited long-term, historical dataset of populations disaggregated at the city level. Our instruments, a key methodological issue, are based on dead and wounded data collected by historians. We show that the effect of the Spanish Civil War on capital cities was temporary, and argue that the locational fundamentals theory is the principal explanation. Idioma: Inglés DOI: 10.1515/peps-2021-0037 Año: 2022 Publicado en: Peace economics, peace science, and public policy 28, 1 (2022), 3-11 ISSN: 1079-2457 Factor impacto CITESCORE: 1.9 - Environmental Science (Q3) - Economics, Econometrics and Finance (Q2) - Social Sciences (Q2)