THE SEARCH FOR EFFICIENCY IN THE ADJUSTMENT PROCESS: SPAIN IN THE 1980S by INTERNATIONAL MONETARY FUND - Free eBooks Download
This paper discusses the main features of Spains recent adjustment effort and assesses its impact on the overall economic situation. It provides a brief historical background on Spains economic development from 1960 to the early 1980s. It discusses the authorities stance on monetary and fiscal policy and examines the role of exchange rate policy in the recovery of the external accounts. The paper assesses progress made in structural reforms, with particular emphasis on industrial restructuring, energy policy, privatization, financial sector reforms, social security, and the labor market.