OECD Economic Surveys: Spain

Frequency :
Every 18 months
ISSN :
1999-0421 (online)
ISSN :
1995-3364 (print)
DOI :
10.1787/19990421
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OECD’s periodic surveys of the Spanish economy. Each edition surveys the major challenges faced by the country, evaluates the short-term outlook, and makes specific policy recommendations. Special chapters take a more detailed look at specific challenges. Extensive statistical information is included in charts and graphs.

Also available in: French
 
OECD Economic Surveys: Spain 2014

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Author(s):
OECD
Publication Date :
08 Sep 2014
Pages :
150
ISBN :
9789264207035 (PDF) ; 9789264207028 (print)
DOI :
10.1787/eco_surveys-esp-2014-en

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The OECD Economic Survey of Spain for 2014 examines recent economic developments, prospects and policies. This edition includes special chapters covering raising potential growth and boosting the business sector.

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    Basic statistics of Spain, 2013

    This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Spain were reviewed by the Committee on 10 July 2014. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 28 July 2014.The Secretariat’s draft report was prepared for the Committee by David Haugh and Alberto Gonzalez Pandiella under the supervision of Pierre Beynet. Research assistance was provided by Desney Erb.The previous Survey of Spain was issued in November 2012.

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    Executive summary
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    Assessment and recommendations
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    Progress in structural reform

    This annex reviews action taken on recommendations from previous Surveys. Recommendations that are new in this Survey are listed in the relevant chapter.

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  • Expand / Collapse Hide / Show all Abstracts Thematic chapters

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      Better harnessing talent and knowledge to boost sustainable medium-term growth in Spain

      Structural transformation towards a more knowledge-based economy will strengthen Spain’s medium-term growth prospects. To deal with long standing impediments to higher growth the government has a substantial structural reform programme touching on education, the labour market and the business environment. Areas of particular weakness to be tackled include the high number of poorly qualified long-term unemployed, skills mismatches and a high school drop-out rate, and insufficient innovation. Spain has done well in reducing the carbon emissions intensity of GDP growth but will need to do more to meet future targets and manage its scarce water resources. The resolution of acute banking and fiscal problems, and the cyclical upswing, provide a more solid platform for sustained growth. Raising trend growth will boost job creation, which is the most effective antidote to the strong rise in poverty and inequality that accompanied the sharp deterioration in the labour market during the crisis.

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      Moving towards a more dynamic business sector in Spain

      Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened. Boosting economic growth requires a new generation of high-growth companies and that resources flow towards the most productive firms. For this to happen, barriers to business growth have to be reduced by streamlining regulations and licencing procedures, internationalisation needs to be fostered, and competition strengthened. In addition, the negative impact of the crisis on companies, notably the high level of indebtedness and difficulties to obtain financing faced by some firms, has to be relieved. This would be facilitated by more efficient insolvency procedures and further development of non-bank financing.

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      Glossary
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