The Spanish economy in the new Europe / Carmela Martín ; translated from the Spanish by Philip Hill and Sarah Nicholson.

Format:

Book

Author/Creator:

Martín, Carmela.

Contributor:

Harry E. Humphreys Book Fund.

Standardized Title:

España en la nueva Europa. English

Language:

English

Spanish

Subjects (All):

International economic relations.

Spain--Economic conditions--1975-.

Spain.

Economic conditions.

Spain--Economic policy.

Economic policy.

Spain--Foreign economic relations.

Spain--Foreign economic relations--European Union countries.

European Union countries--Foreign economic relations--Spain.

European Union countries.

Physical Description:

xix, 307 pages : illustrations ; 23 cm

Place of Publication:

New York : St. Martin's Press, 2000.

Summary:

This book assesses how EU economies have fared in their project of economic and monetary union. Drawing on an entirely new data bank for all fifteen member countries, it takes the Spanish economy as a point of departure to compare their gains and losses. It also considers the implications for the welfare state, enlargement towards Easten Europe, and the political integration of Europe.

Contents:

Introduction: Changes in the International Economic Setting 1

Part I Comparative Analysis

1 Growth and Structural Changes 9

1.2 GDP and economic growth 9

1.3 Changes in the structure of GDP 12

2 Productivity and its Determinants 23

2.2 Analysis of productive efficiency 24

2.2.1 Labour productivity 24

2.2.2 Total factor productivity 26

2.3 Determining factors of productivity growth 28

2.3.1 Physical capital 28

2.3.2 Technological capital 30

2.3.3 Human capital 32

2.3.4 Public capital and transport infrastructure 34

3 Activity, Employment and Unemployment 40

3.2 Labour force and employment trends 41

3.3 The nature and some causes of unemployment 52

3.4 Technical change and unemployment 64

4 Costs, Prices and Competitiveness 70

4.2 Concept and measurement of competitiveness 70

4.3 Competitiveness according to trade results 73

4.4 Cost and price competitiveness 78

4.5 Other determinants of competitiveness 84

5 Public Finances and Fiscal Policy 88

5.2 Generation of the deficit and the problems derived from its financing 89

5.2.1 Government expenditure and revenue 89

5.2.2 The deficit and the explosiveness of debt 94

5.3 Fiscal adjustment policies and economic growth 103

5.4 Sustainability of the welfare state 105

5.5 National fiscal policies in the context of EMU 110

6 The External Sector 117

6.2 Current and capital accounts 117

6.3 Financial account 123

7 Nominal and Real Convergence 131

7.2 What does economic convergence mean? 131

7.3 Nominal convergence 132

7.4 Real convergence 134

Part II Evaluation of the Integration Process

8 Trade Relations 149

8.2 Economic integration and foreign trade 150

8.3 Trade adjustment in the Europe of the Fifteen 153

9 Direct Investment Flows 173

9.2 Economic integration and international direct investment 174

9.3 Changes in the size and pattern of direct investment flows 177

9.4 Changes in the geographical and sectoral pattern of direct investment flows 183

10 Migratory Flows 191

10.2 Economic integration and migratory flows 192

10.3 Intensity of migratory flows 193

10.4 Causes and consequences of low labour mobility 197

11 The Community Budget and its Functions 203

11.2 Main characteristics and functions of the Community budget 204

11.3 Distribution of expenditure 206

11.4 Forms of financing 211

11.5 The Community budget and economic and social cohesion 213

11.6 Financial perspective for the budget and enlargement towards the East 220

12 Unification of Monetary Policy in Europe 224

12.2 The path to monetary union 225

12.3 The monetary and fiscal policy regime of EMU 230

12.4 Advantages and drawbacks of EMU membership 236

Conclusions: Prospects and Economic Strategies for the Spain of the Euro 242

Appendix I Chronology of the European Integration Process 253

Appendix II Methodological Problems of International Comparisons 260.

Notes:

Includes bibliographical references (pages 287-298) and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the Harry E. Humphreys Book Fund.

ISBN:

0312230060

OCLC:

42580553