Périodicité: Tous les 18 mois
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.
Tables des matières:
Basic statistics of Spain, 2011 Executive 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 Bibliography 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 Bibliography 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 -Bibliography