The Political Economy of Contemporary Spain From Miracle to Mirage 1st Edition by Luis Buendía, Ricardo Molero Simarro 1138305715 9781138305717

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Product details:

ISBN 10: 1138305715 

ISBN 13: 9781138305717

Author: Luis Buendía, Ricardo Molero Simarro

The so-called ‘Spanish miracle’, beginning in the mid-1990s, eventually became a nightmare for the majority of the population, culminating in the present-day economic and political crisis. This book explores the main features of the Spanish political-economic model during both the growth and crisis periods. Analyzing the causes and consequences of the continuing economic crisis in Spain, this book delves into five analytical axes: the evolution of the growth model; the role of Spain in the international division of labor; the financial sector and its influence on the rest of the economy; changes in the labor market; and the distributional consequences of both the expansive phase and the later crisis. Furthermore, contributors examine the formation of a triangle of actors (the government sector, building sector, and financial capital) that shaped the Spanish growth model, together with the effects of Spain’s membership in the Economic and Monetary Union. Also considering ecological problems, gender issues, and the immigration question, this book challenges the alleged recovery of living conditions during recent years, as well as the explanation of the crisis as the result of irrational behaviors or the greedy nature of certain actors. The Political Economy of Contemporary Spain provides a coherent explanation of the Spanish economic crisis based on a pluralistic approach, while proposing several measures that could contribute to a transformation of Spain’s economic and social models.

Table of contents:

1 The accumulation model of the Spanish economy: profitability, the real estate bubble, and sectoral imbalances
Introduction
Macroeconomic dynamics: from growth to long depression
Internal dislocation in the dynamics of accumulation
Conclusions

2 Spain’s external insertion: peripheral or not?
Introduction
The Spanish economy in international production
Trade pattern
Conclusions

3 The Spanish financial sector: debt crisis and bailout
Introduction
Basic elements of the Spanish financial system
Growth regime financing (1995–2007)
The private debt crisis
Adjustment, bailout, and socialization of losses
Conclusions

4 The Spanish labor market: on the path of flexibility and wage devaluation
Introduction
Model and structure of labor relations in Spain
Crisis and adjustment in the Spanish labor market
Conclusions

5 The distributive pattern of the Spanish economy: the impact of adjustment on inequalities
Introduction
Distribution of income during the period of growth
Distribution of income during the period of crisis
Conclusions

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Tags: Luis Buendía, Ricardo Molero Simarro, Political, Contemporary