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OECD Economic Surveys: Spain 2010
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- Table of contents
- Basic Statistics of Spain (2009)
- Executive summary
- Assessment and recommendations
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Chapter 1. Rebalancing the economy
- + A cyclical downturn severely hit by the global crisis
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Spain has started rebalancing its economy
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Difficulties in the banking sector have been confined to some savings banks
- Notes
- Bibliography
- + Annex 1.A1. Cost efficiency of Spanish banks: A stochastic frontier analysis
- Annex 1.A2. Progress in structural reforms
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Chapter 2. Restoring fiscal sustainability
- Spain faces significant fiscal challenges
- + A structural deterioration of public finances
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Achieving rapid fiscal consolidation while mitigating its impact on growth
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Policies towards a sustainable fiscal consolidation
- + A reform of the tax structure could foster growth once sufficient consolidation has been achieved
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Sustainable consolidation requires containing ageing expenditures
- Figure 2.8. Projected old-age dependency rates
- Figure 2.9. Projected age-related spending
- Table 2.6. Projected change in public pension/GDP ratio and contributing factors
- Figure 2.10. Average effective age of retirement versus the official age
- Table 2.7. Theoretical gross pension replacement rates1 by level of earnings
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A new internal stability pact is needed
- Figure 2.11. Expenditure by level of government
- Table 2.8. Regional government expenditure
- Figure 2.12. Public expenditure on health and education
- Table 2.9. Budget outcomes by level of government
- Box 2.4. Domestic budgetary stability rules
- Box 2.5. Funding arrangements for the regional governments
- Box 2.6. Recommendations on restoring fiscal sustainability
- Notes
- Bibliography
- Annex 2.A1. The public pension system and recent reforms
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Chapter 3. Reforming the labour market
- + The Spanish labour market in the crisis
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Reducing duality in the labour market
- + Reforming the collective bargaining system
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Improving the employability of the young and the unskilled
- + Improving the effectiveness of the matching process
- + The need for a comprehensive reform package
- Notes
- Bibliography
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Chapter 4. Policies towards a sustainable use of water
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Water resources are intensively exploited
- Figure 4.1. Water resources and abstraction
- + The expansion of water supply through the construction of dams has come to an end
- + Some aquifers are overexploited
- Climate change will further lower the natural supply of water
- + Low water prices hold back the development of unconventional supply sources
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Patterns of water demand
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Characteristics of the institutional framework
- Notes
- Bibliography
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Water resources are intensively exploited
- Glossary
Special feature
- Policies towards a sustainable use of water
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Publication year : 2010
License: All rights reserved ©
Times read: 11
