The economic crisis and its management in Spain
The long pre-crisis period of growth and employment creation in Spain was based mainly on the construction sector. This, facilitated by cheap bank loans created jobs for the millions of immigrants arriving in the country. The crisis made the Spanish economy sink into a deep recession in 2008. The aim of this article is to describe the Spanish crisis-management in the past years. The extremely high unemployment rate and the indebtedness made policy-makers to adopt austerity measures and realise the necessity of profound reforms. The biggest transformation processes began among the savings banks and on the labour market. The article concludes that these reforms should continue while it is necessary to find a new model for long-term growth. Endowments like the excellent infrastructure and successful companies, stronger export activity, international presence and innovation can provide the bases for such a durable growth.
Volume (Year): 2(1) (2011)
Issue (Month): (June)
|Contact details of provider:|| Web page: http://cse.uaic.ro|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roberto Bande & Melchor Fernandez & Victor Montuenga, 2005.
"Regional Unemployment in Spain: Disparities, Business Cycle and Wage Setting,"
Documentos de trabajo - Analise Economica
0035, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
- Bande, Roberto & Fernández, Melchor & Montuenga, Víctor, 2008. "Regional unemployment in Spain: Disparities, business cycle and wage setting," Labour Economics, Elsevier, vol. 15(5), pages 885-914, October.
- Roberto Bande & Melchor Fernandez & Víctor Manuel Montuenga, 2005. "Regional Unemployment in Spain - Disparities, Business Cycle and Wage Setting," ERSA conference papers ersa05p489, European Regional Science Association.
- Carlos Garriga, 2010. "The Role of Construction in the Housing Boom and Bust in Spain," Working Papers 2010-09, FEDEA.
- José Ignacio Conde Ruiz & Florentino Felgueroso & Jose Ignacio García Pérez, 2010. "Las reformas laborales en España: un modelo agotado," Economic Reports 11-2010, FEDEA.
- Vicente, Cuñat & Luis, Garicano, 2010.
"Did Good Cajas Extend Bad Loans? Governance, Human Capital and Loan Portfolios,"
42434, University Library of Munich, Germany.
- Vicente Cuñat & Luis Garicano, 2010. "Did Good Cajas Extend Bad Loans? Governance, Human Capital and Loan Portfolios," Working Papers 2010-08, FEDEA.
- Juan José Dolado & Florentino Felgueroso & Marcel Jansen, 2010. "El conflicto entre la demanda de flexibilidad laboral y la resistencia a la reforma del mercado de trabajo en España," Economic Reports 06-2010, FEDEA.
- José Ignacio Conde Ruiz & Florentino Felgueroso & Jose Ignacio García Pérez, 2011.
"Reforma Laboral 2010: Una primera evaluación y propuestas de mejora,"
- J. Ignacio Conde-Ruiz & Florentino Felgueroso & J. Ignacio García-Pérez, 2011. "Reforma Laboral 2010: Una Primera Evaluación Y Propuestas De Mejora," Revista de Economia Aplicada, Universidad de Zaragoza, Departamento de Estructura Economica y Economia Publica, vol. 19(3), pages 147-180, Winter.
- Florence Jaumotte, 2011. "The Spanish Labor Market in a Cross-Country Perspective," IMF Working Papers 11/11, International Monetary Fund.
- Anita Wölfl & Juan S. Mora-Sanguinetti, 2011. "Reforming the Labour Market in Spain," OECD Economics Department Working Papers 845, OECD Publishing.
- Felipe Serrano, 2010. "The Spanish fiscal policy during the recent "great recession"," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 32(3), pages 371-388, April.
When requesting a correction, please mention this item's handle: RePEc:jes:journl:y:2011:v:2:p:41-55. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alupului Ciprian)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.