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Spain: A Success Story Shadowed Only by a Poor Productivity Performance

Published online by Cambridge University Press:  26 March 2020

Matilde Mas  and
Javier Quesada
Matilde Mas*
Affiliation:
Universitat de Valéncia and Lvie
Javier Quesada
Affiliation:
Universitat de Valéncia and Lvie
*
e-mail: matilde.mas@uv.es
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Abstract

Since joining the European Union in 1986, the performance of the Spanish economy has been quite remarkable, acting as a good example for new entrants of what can be accomplished in twenty years. Its ability to generate employment has been astonishing. Departing from an environment of very high unemployment (close to 25 per cent), Spain has become the country of destination most preferred by immigrants. However, it has also had a scant productivity performance. The main burden on productivity growth lies with the construction sector and almost all private service sectors with the unique exception of the financial sector. Most likely, over the next years, the continuity of the Spanish success will require a reversal of the sources of growth, shifting from labour creation to improvements in multifactor productivity.

Keywords

Growthproductivitygrowth accountingO40O47O52
Type
Articles
Information
National Institute Economic Review , Volume 200 , 01 April 2007 , pp. 87 - 95
Copyright
Copyright © 2007 National Institute of Economic and Social Research

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Footnotes

The results here presented are part of the EUKLEMS Project funded by the European Commission, Research Directorate General, 6th Framework Programme, Priority 8. It also inscribes in the SEJ2005-02776 project of the Spanish Science and Education Ministry-FEDER. We are grateful to Juan Carlos Robledo for excellent research assistance.

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