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La proyección de la crisis en España

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  • Antonio Torrero Mañas

Abstract

El mundo, y también España, se enfrenta a la corrección de un ciclo extraordinariamente expansivo del crédito, que ha tenido lugar en un entorno de riesgo creciente y de relajación reguladora, con innovaciones financieras importantes, y un papel destacadísimo de los mercados financieros, de los productos derivados y de los bancos de inversión. En la fase expansiva del ciclo, la abundancia de recursos y la gran liquidez de los mercados ha impulsado el crecimiento económico en un marco financiero global. Lo que ha de afrontarse ahora es la corrección de los excesos y el retorno a niveles más soportables de endeudamiento en un escenario de mayor sensibilidad hacía el riesgo.

Suggested Citation

  • Antonio Torrero Mañas, 2009. "La proyección de la crisis en España," Working Papers 02/09, Instituto Universitario de Análisis Económico y Social.
  • Handle: RePEc:uae:wpaper:0209
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    File URL: http://www3.uah.es/iaes/publicaciones/DT_02_09.pdf
    File Function: First version, 2009
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    Keywords

    crisis; España; endeudamiento;

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