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La croissance espagnole est-elle soutenable ?

Abstract : This article aims to explain why Spanish growth has been so high since the mid-90s (with a significant reduction in public deficit and the unemployment rate), but also why it is not sustainable in the long term. Indeed, growth has recently been greatly dependent on European structural funds and an expansive monetary policy. Furthermore, it has induced severe imbalances (increasing current deficit and household debt, thus generating a house price bubble). For the catching-up towards the European Union to continue, higher productivity growth is necessary.
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https://hal-sciencespo.archives-ouvertes.fr/hal-03459160
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Submitted on : Tuesday, November 30, 2021 - 11:30:18 PM
Last modification on : Friday, March 25, 2022 - 3:44:44 AM

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Sabine Le Bayon. La croissance espagnole est-elle soutenable ?. Revue de l'OFCE, Presses de Sciences Po, 2006, pp.203 - 243. ⟨10.3917/reof.097.0203⟩. ⟨hal-03459160⟩

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