On February 12, the economists Fernando Fernández Méndez de Andés, head of the Chair on the International Financial System of IE Business School, and Manuel Balmaseda, Global Chief Economist of CEMEX, with Miguel Marín, director of Economy and Public Policy of FAES Foundation, held the ‘2nd FAES Economy Table’ with a dialogue on ‘Greece and the Future of the Euro’.
As we argued in the previous instalment, inadequate investment in productive capital, technological backwardness and the limited organisational changes that have characterised the Spanish economy, as a result of our productive specialisation, have marked its delay in productivity and losses in competitiveness. And while the restructuring of the productive sectors as a consequence of the crisis, with weight losses both in terms of production and in terms of low-skilled labour intensive sectors, have helped to recover part of competitiveness, the fact is that increased productivity, while an important factor that can help to remain competitive in the long run, is just one of the factors that can explain this improvement, especially when you consider that it has been slow. So we must ask...
The growth patterns of the global economy after the crisis begin to differ substantially from those we envisaged back in 2009 and which continued during the Great Recession. At that time, we witnessed a decoupling between the damaged developed economies and the thriving emerging economies led by the BRICs, as well as the asymmetric effects caused by a crisis of balance between providers and recipients of capital. At the core of the financial crisis lay an accumulation of unprecedented monetary reserves in the emerging countries as a result of rocketing exports triggered by three decades of continuous gains in productivity and increased exports of raw materials.
On December 9, economists Juergen Donges, Emeritus Professor of Economics at the University of Cologne, and Fernando Fernández Méndez de Andés, head of the Chair on the International Financial System of the IE Business School, moderated by Miguel Marín, director of Economy and Public Policy of FAES Foundation, opened the ‘FAES Economy Table’ with a discussion where they addressed the challenges and outlook to be faced by the Spanish economy in 2015.
Before the performance of apparent productivity of labour, which in some countries, including Spain, is enhanced by a simple economic downturn, one could also wonder about Total Factor Productivity (TFP), also called Multifactor Productivity, which measures the technological efficiency of the economy. A positive development would send signals that the improvement of competitiveness could be sustainable in the long term.
The Spanish economy has a strong degree of momentum in terms of economic growth (above the European average) based on the significant expansion of domestic demand. Over the year and a half in which the present government has been in power, not a single significant economic measure has been introduced, although the effects of previous reforms continue to be felt.
02.12.2015. On February 12, the economists Fernando Fernández Méndez de Andés, head of the Chair on the International Financial System of IE Business School, and Manuel Balmaseda, Global Chief Economist of CEMEX, with Miguel Marín, director of Economy and Public Policy of FAES Foundation, held the ‘2nd FAES Economy Table’ with a dialogue on ‘Greece and the Future of the Euro’.
01.21.2015. As we argued in the previous instalment, inadequate investment in productive capital, technological backwardness and the limited organisational changes that have characterised the Spanish economy, as a result of our productive specialisation, have marked its delay in productivity and losses in competitiveness. And while the restructuring of the productive sectors as a consequence of the crisis, with weight losses both in terms of production and in terms of low-skilled labour intensive sectors, have helped to recover part of competitiveness, the fact is that increased productivity, while an important factor that can help to remain competitive in the long run, is just one of the factors that can explain this improvement, especially when you consider that it has been slow. So we must ask...
01.13.2015. The growth patterns of the global economy after the crisis begin to differ substantially from those we envisaged back in 2009 and which continued during the Great Recession. At that time, we witnessed a decoupling between the damaged developed economies and the thriving emerging economies led by the BRICs, as well as the asymmetric effects caused by a crisis of balance between providers and recipients of capital. At the core of the financial crisis lay an accumulation of unprecedented monetary reserves in the emerging countries as a result of rocketing exports triggered by three decades of continuous gains in productivity and increased exports of raw materials.
12.22.2014. On December 9, economists Juergen Donges, Emeritus Professor of Economics at the University of Cologne, and Fernando Fernández Méndez de Andés, head of the Chair on the International Financial System of the IE Business School, moderated by Miguel Marín, director of Economy and Public Policy of FAES Foundation, opened the ‘FAES Economy Table’ with a discussion where they addressed the challenges and outlook to be faced by the Spanish economy in 2015.
12.17.2014. Before the performance of apparent productivity of labour, which in some countries, including Spain, is enhanced by a simple economic downturn, one could also wonder about Total Factor Productivity (TFP), also called Multifactor Productivity, which measures the technological efficiency of the economy. A positive development would send signals that the improvement of competitiveness could be sustainable in the long term.
12.20.2005. The Spanish economy has a strong degree of momentum in terms of economic growth (above the European average) based on the significant expansion of domestic demand. Over the year and a half in which the present government has been in power, not a single significant economic measure has been introduced, although the effects of previous reforms continue to be felt.