International Economics

Internationalisation as a lever to overcome the crisis

Alfredo Arahuetes and Federico Steinberg. WP 5/2013 (Translated from Spanish) - 23/4/2013. Go to Spanish version

How can internationalisation help Spain overcome its recession? This paper first looks at the benefits of internationalisation from a theoretical standpoint. It then reviews the Spanish economy’s internationalisation process, pointing out its strengths and weaknesses. Finally, it presents lessons and recommendations on the basis of both international and Spanish evidence.

Critical metals: risks and opportunities for Spain

Miriam Solera. ARI 12/2013 - 15/4/2013.

In recent years there has been a rapid expansion in the global renewable-energy and energy-efficiency technology markets. However, most low-carbon technologies require so-called ‘hi-tech’ or ‘critical’ metals, for the majority of which the EU’s member states have high import dependency rates.

Foreign Direct Investment in Spain: holding firm despite (or because of) the crisis

William Chislett. ARI 10/2013 - 8/4/2013.

Spain continues to draw significant levels of foreign direct investment (FDI), despite (or because of) the crisis. Reforms are making FDI in the country more attractive.

Towards a common external representation for the eurozone?

Daniela Schwarzer, Federico Steinberg and Diego Valiante. TGAE-Elcano 3/2013 - 26/3/2013.

Since the introduction of the euro in 1999, the external representation of the eurozone has been incrementally developed, but no formal amendments have been made. This Policy Paper discusses the case for a consolidated representation of the eurozone in international economic fora, analyses the obstacles to achieving it, and puts forward proposals to solve some of the existing obstacles.

A New Union of Creditors and Debtors

Federico Steinberg. Expert Comment 19/2013 - 28/2/2013.

The Euro Zone (EZ) debt crisis has dramatically changed the nature of European integration. The combination of poor financial regulation and an incomplete design of the euro have led EMU to the brink of collapse, forcing the EZ to move forwards decisively in order to avoid catastrophe.

A Political Economy Perspective on North Africa’s Transitions

Gonzalo Escribano. WP 3/2013 - 30/1/2013.

From the point of view of political economy, a crucial point is whether the wave of popular revolts that overthrew the incumbent regimes will consolidate into economically-viable liberal democracies, and in what economic direction Algeria and Morocco will move, since to date they have been spared regime changes with a high budgetary cost.

The pain in Spain: political, social and foreign policy implications of the European economic crisis

Charles Powell. 31/12/2012.

This paper analyses the effects of the current economic crisis on the domestic, foreign and transatlantic relations in Spain. It also focuses on the economic and political reforms undertaken in response to the crisis, its impact on the country’s foreign policy agenda and advances a series of policy recommendations to help prevent the crisis from undermining the transatlantic relationship.

The Pain in Spain: Light at the End of the Tunnel?

Charles Powell and Federico Steinberg. 12/12/2012.

Spain will undoubtedly require external financial help from its European partners, as well as more time and flexibility to achieve its fiscal targets. But it also has a number of strengths that are too often overlooked.

Shifting Towards What? Europe and the Rise of Unconventional Energy

Gonzalo Escribano. ARI 82/2012 - 10/12/2012.

Although the emergence of the US as an unconventional energy power is shifting the global energy balance, its geopolitical consequences for the EU should not be exaggerated and should not distract attention from Europe’s already pressing energy policy agenda.

Are the BRICs Broken?

Iliana Olivié. Expert Comment 34/2012 - 6/11/2012.

It is very tempting to interpret the slow growth in China or Brazil as an indicator that the so-called emerging countries also jumped on the decade’s cheap financing bandwagon that has now come to an end for all of us.