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Spain

Author

Listed:
  • Oehler-Sincai Monica Iulia

Abstract

After five years of double-dip recession, the Spanish economy entered a phase of slow recovery at the end of 2013. According to the international experts, this economic revival is mainly due to export performance. In spite of the economic slowdown at the level of developing/emerging countries, the GDP growth has accelerated in developed countries, which has created the prerequisites for a favourable external demand. At the same time, the reinvigoration of activity in the manufacturing and services sectors has gradually boosted employment and the domestic demand has increased. The Spanish government has managed to reach an acceptable level of credibility on the external financial markets, implying a progressive decrease of the bond yields below the pre-crisis level. In order to consolidate this credibility, it is necessary that the fiscal consolidation process continues at an adequate pace, taking into account the labour market realities and the fact that more than a quarter of population is unemployed.

Suggested Citation

  • Oehler-Sincai Monica Iulia, 2014. "Spain," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2014:id:2822000009586043
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    More about this item

    Keywords

    Spain; macroeconomic indicators; economic growth; inflation; unemployment; general government net lending/borrowing; gross debt; structural weaknesses;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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