La croissance espagnole est-elle soutenable ?

Sabine Le Bayon ()
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Sabine Le Bayon: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

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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.

Keywords: Croissance espagnole; Finances publiques; Taux de chômage (search for similar items in EconPapers)
Date: 2006-04
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03459160
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Published in Revue de l'OFCE, 2006, 97, pp.203 - 243. ⟨10.3917/reof.097.0203⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03459160

DOI: 10.3917/reof.097.0203

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