Spain in the monetary union – development factors, causes of economic problems and adjustment processes
Abstract
effective exchange rate appreciation, 4) reduced export competitiveness, 5) imports and the current account deficit on the rise. Spain is the classic case of a country with stimulated domestic demand, developing inflation and growing unit labour costs as well as lowered competitiveness. However, the crisis has contributed to the deepening of macroeconomic imbalances.
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DOI: http://dx.doi.org/10.17951/h.2013.47.1.107
Date of publication: 2015-07-23 22:45:21
Date of submission: 2015-07-04 20:24:53
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