This work studies the origin of macroeconomic imbalances in the Spanish economy in the context of European integration, analyzing some of the major hypotheses found in economic literature as causes of imbalances in current accounts, disparities in competitiveness among member states and the fiscal position of the Spanish government. We emphasize the breaking point of adopting a single currency and how this has affected interest rates, economic growth forecasts and the strong and continuous inflow of capital from countries in the Eurozone core, contributing to the real-estate bubble and leveraging the private sector.
|Journal||Problemas del Desarrollo|
|Publication status||Published - 1 Jan 2014|
Bibliographical notePublisher Copyright:
© D.R. Universidad Nacional Autónoma de México (UNAM).
Copyright 2014 Elsevier B.V., All rights reserved.
All Science Journal Classification (ASJC) codes
- Economics and Econometrics