The economy of Spain in the eurozone before and after the crisis of 2008

Larry Neal () and Concepcion Garcia-Iglesias

MPRA Paper from University Library of Munich, Germany

Abstract: In common with the other periphery countries that joined the euro-zone in 1998-2000, Spain enjoyed ten years of economic prosperity, essentially debt-financed. The financial crisis of 2008 has revealed deep structural problems in the euro-zone, but also among Spain’s fiscally autonomous regions, which differ from the financial problems faced by the other European periphery countries. But the Spanish problems with de-leveraging suggest further difficulties for the euro-zone as it attempts to implement sterner budgetary controls over member states.

Keywords: autonomous regions; Balassa-Samuelson effect; de-leveraging; euro; sovereign bonds (search for similar items in EconPapers)
JEL-codes: F33 G01 G15 G18 (search for similar items in EconPapers)
Date: 2012-02-20
New Economics Papers: this item is included in nep-eec
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Citations: View citations in EconPapers (1)

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