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This 2017 OECD Economic Survey of Spain examines recent economic developments, policies and prospects. The special chapters cover improving job quality and innovative business investment.
OECD Economic Surveys: Spain 2017 by Organization for Economic Cooperation and Development Pdf
Spain is enjoying a robust recovery from a deep recession and a wide range of structural reforms has contributed to sustainable rises in living standards. Highly accommodative euro-area monetary policy, low oil prices and, more recently, expansionary fiscal policy have all supported domestic demand. Exports have been a particular bright spot, as Spain has resisted the slowdown in global export growth. However, raising well-being and GDP per capita, particularly via productivity increases, and making growth more inclusive remains a challenge. Spain has long suffered from very low productivity growth, which has restrained increases in living standards. Misallocation of capital towards low productivity firms and underinvestment in innovation have dragged down productivity, although more recently capital allocation has been improving. Policies to foster a better allocation of capital and higher productivity include reducing regulatory barriers in product markets that are holding back competition, encouraging higher investment in R&D and innovation and ensuring that capital goes to a wider set of innovative firms. Reducing entry barriers and improving framework conditions would also help to foster green investment. The unemployment rate is gradually falling down thanks to stronger growth, but it remains very high, particularly among the young and long-term unemployed. The high share of long-term unemployed risks loss of skills, disaffection and alienation. Poverty has also risen, mainly due to lack of quality jobs that provide enough hours of paid work to support decent incomes. Part of the answer is continued strong economic growth, but strengthening training and job placement and better minimum income support are crucial. SPECIAL FEATURES: IMPROVING JOB QUALITY; INNOVATIVE BUSINESS INVESTMENT
Spain implemented sizable measures to cushion the impact of the pandemic and of the inflationary shock after Russia’s war of aggression against Ukraine. The economy has held up well, but public debt, which was already high, has increased because of the pandemic, making it urgent to step up the pace of fiscal consolidation.
The Spanish economy entered a deep recession in 2020 due to the COVID-19 pandemic. A strong government response has protected jobs and firms. However, the crisis has exacerbated long-standing structural challenges, such as high unemployment, inequalities and regional disparities.
The Spanish economy continues its strong growth, thanks to past structural reforms, robust employment growth and accommodative macroeconomic policies. However, the legacy of the crisis has not yet been fully overcome and imbalances remain.
This 2000 edition of OECD's periodic review of Spain's economy examines recent economic developments, policies and prospects and includes special features on structural reforms and the tax system.
The 2010 edition of OECD's periodic survey of Spain's economy. This edition includes chapters covering rebalancing the economy, restoring fiscal sustainability, reforming the labour market, and policies towards sustainable use of water.
This edition of OECD's periodic survey of Spain's economy examines the key policy challenges Spain will be facing. In particular, it examines the chellenges of returning to more sustainable growth, of managing fiscal policy, of strengthening innovation and of improving goods and services markets.
OECD's 2012 Economic Survey of Spain examines recent economic developments, policies and prospects and takes a specia look at the banking crisis and youth employment.
This 2005 edition of OECD's periodic survey of Spain's economy opens with a broad assessment of economic challenges and includes chapters covering macroeconomic stability and competitiveness, raising productivity growth and job creation, public sector decentralisation and pension system reform.
This 1998 edition of OECD's periodic review of Spain's economy examines recent economic developments, policies and prospects. It includes special features on reforming the enterprise sector and entrepreneurship.
This 2017 OECD Economic Survey of Japan examines recent economic developments, policies and prospects. The special chapters cover productivity for inclusive growth and fiscal sustainability.
This 2003 edition of OECD's periodic review of Spain's economy examines recent economic developments, policies and prospects and includes special features on fiscal policy challenges, structural reforms, and immigration.
This 2008 edition of OECD's periodic survey of Spain's economy examines challenges being faced including that of improving the education system, improving the matching of workers to jobs, and fostering competition in product markets to boost ...