Factors of Spanish Economic Development

Paper Summary:

This paper discusses the strengths, weaknesses, opportunities and threats that face Spain as the country that looks to not only participate but to lead the emerging European Community.

From the Paper:

"Since the mid-1980's Spain has experienced economic boom and prosperity as the socio-economic and political changes of the past three decades have come together to produce a stable democracy and strong member of the European Community. In fact, Spain led the EC in growth in the second half of the 1980s with an average annual GDP Growth rate of 4.5 percent (Bruton, 1994). Rising domestic demand, increases in individual income, greater employment, growth in foreign direct investment, industrial production and corporate profits have driven growth, and the Spanish have adopted an aggressively competitive attitude to business that will work to their advantage in the increasingly global marketplace. The Spaniards are eager to release themselves from the traditional chains of an isolationist past and become not just players, but leaders, in the future of Europe and the world."

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