Productivity and Competitiveness

Carlos Cuerpo, Rafael Domenech and L. González-Calbet

Chapter 4 in The Spanish Economy, 2011, pp 97-119 from Palgrave Macmillan

Abstract: Abstract Spain became a member of the Economic and Monetary Union (EMU) in 1998 and, up to the international crisis of 2008–9, there were three indications of what most economists agree is a lack of competitiveness on the part of the Spanish economy. The first is the positive inflation differential with the EMU; the second a persistent and growing external deficit; and the third a poor trend in labour productivity, in relation to the United States, but also to other European countries.

Keywords: Foreign Direct Investment; Labour Productivity; Real Exchange Rate; Real Wage; Computable General Equilibrium (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30754-4_4

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DOI: 10.1057/9780230307544_4

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