Spain: Converging with the European Community

Occasional Papers, January 15, 1993

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Spain's participation in European integration has "strengthened its policymaking credibility and created an enviroment conducive to sustainable economic growth."
"Over the last decade, Spain has seen improvements in inflation, output, employment, and its balance of payments."
Spain "has substantially reformed its product, labor, and financial markets."
The paper "reviews Spain's past economic performance and sees good prospects for further rises in living standards."

Subject: Banking, Commercial banks, Expenditure, Financial institutions, Income and capital gains taxes, Income tax systems, Revenue administration, Taxes, Total expenditures
Keywords: Commercial banks, core EC country, EC country, Europe, exchange rate., fiscal decentralization process, Global, government, income, Income and capital gains taxes, income tax, Income tax systems, market, OP, policy credibility, regional government, Total expenditures, transition process

European integration is linked with enhanced policy credibility in Spain.
Market-oriented reforms across product, labor, and financial sectors are identified as important elements of Spain's recent economic improvements.
Continued convergence with the European Community is presented as consistent with "good prospects for further rises in living standards."

International Monetary Fund. Spain: Converging with the European Community. Occasional Paper No. 1993/001 (January 15, 1993).