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| Abstract |
We analyze several stages of economic development of Spain in the period 1965-2007, in comparison with Germany, France, Italy, the United Kingdom and the United Status. The insufficiency of industrial development of Spain for 1975-85, 1990-95 and 2000-2008, regarding real value added per capita, explains not only a lower increase of real income per capita and of real average wage, but also the increasing disequilibrium of the foreign trade balance of the period 2002-2008, which has been one of the main causes of the economic crisis of year 2008. We present an econometric model which shows the positive effect of industry and even foreign trade, on productivity, real wage and employment. Finally we suggest to improve other socio-economic factors which may contribute to foster a higher degree of real convergence of the Spanish economy with more advanced countries.
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Volume (Year): 8 (2008)
Issue (Month): 1 ()
Pages: 99-122
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| Related research |
Find related papers by JEL classification:
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
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This page was last updated on 2009-11-17.