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OECD Economic Surveys: Spain 2012
OECD Publishing , Publication date:  14 Dec 2012
Pages: 104 , Language: English
Version: Print (Paperback) + PDF
ISBN: 9789264128323 , OECD Code: 102012181P1
Price:   €61 | $86 | £54 | ¥7200 | MXN1080 , Standard shipping included!
Availability: Low stock
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Other languages:  French (Available)
Superseded by: OECD Economic Surveys: Spain 2014 - (Available)
Other Versions:  E-book - PDF Format
Subscription:  OECD Economic Surveys (Available)

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Frequency: Every 18 months   Tables: Charts: 26 


OECD's 2012 Economic Survey of Spain examines recent economic developments, policies and prospects and takes a special look at the banking crisis and youth employment.

Table of contents:


Basic statistics of Spain, 2011Executive summary
Key recommendations
Assessment and recommendations
-The economy is suffering a protracted recession
-The current account deficit has fallen markedly but the trade balance will need to improve further
-Restoring banks’ access to funding is the most urgent priority
-Steps have been taken to accelerate the restructuring and resolution of banks
-Resolution of non-viable banks needs to impose losses to some creditors to protect tax-payers better
-Reform of bankruptcy procedures can accelerate restructuring
-The government has introduced large front-loaded budget consolidation
-Ambitious budgetary rules have been introduced
-Pension reform has damped the expected increase in ageing-related spending but further reform is necessary
-Budgetary consolidation should be combined with a reform of the tax system, notably to make it more green-growth friendly
-Progress in labour market reform is considerable but important challenges remain
-Ensuring that employment protection is not a burden for hiring
-Promoting job creation through more flexible adjustment of wages
-Strengthening activation
-Ensuring that youth acquire the skills needed in the labour market
-Reforms to raise productivity can strengthen competitiveness
Annex A1. Progress in main structural reforms
Chapter 1. Deleveraging the private sector and overcoming the banking crisis
The financial crisis needs to be addressed quickly
-The banking crisis requires a comprehensive policy response
-The government has taken steps to strengthen the resilience of the banking sector
-Effective bankruptcy regimes can accelerate loss recognition and strengthen structural change
Chapter 2. Improving employment prospects for young workers
-Labour market challenges
-In the short term, ensure that youth-at-risk remain connected to the labour market
-Reducing the early drop-out rate from education
-Facilitating the transition from school to work through improved vocational education
-Helping the young to move from temporary to stable employment
-Improving firms’ incentives for youth employment through more flexible collective bargaining


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