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        A Decade of Lost Growth: Economic Policy in Spain through the Great Recession

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        Final Accepted Version (PDF, 940Kb)
        Author
        Salmon, Keith
        Attention
        2299/18484
        Abstract
        In 2008 the Spanish economy sank into recession, returning to growth in 2014. This paper explores the policies that were pursued by two successive governments to escape the recession. It comments on one of the most contentious strategies, that of austerity, and underlines the constraints on policy imposed by membership of the European Monetary Union (EMU) and a decentralised state. The Great Recession and accompanying austerity policy were associated with huge social and economic costs. Policy targets on the debt and deficit were not met. This experience, together with the broader sluggish growth in Europe and the political consequences associated with austerity, pointed to the need for a new policy mix.
        Publication date
        2017-04-03
        Published in
        South European Society and Politics
        Published version
        https://doi.org/10.1080/13608746.2017.1301065
        License
        http://creativecommons.org/licenses/by/4.0/
        Other links
        http://hdl.handle.net/2299/18484
        Relations
        Hertfordshire Business School
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