By George N. Yannopoulos
An exam of the problems raised by means of the alternative of exchange options for the advertising of industrialization and monetary progress by way of targeting the adventure of the Iberian economies through the strategy of their phased integration with the eu group. during this quantity, numerous economists learn the adventure of the Iberian nations with their preferential buying and selling preparations with the EEC and EFTA which will confirm the effectiveness of those preparations as a part of a entire technique for fiscal improvement. when you consider that those preferential buying and selling preparations have been designed to behave as "incubators" for the innovative integration of the Iberian nations with the ecu neighborhood, the publication additionally examines how a ways they completed the target of getting ready the 2 economies for complete club of the eu group.
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Extra resources for European Integration and the Iberian Economies
109). In a later study using data from the Census of Foreign Investment of 1977 an attempt is made to establish the contribution to both exports and imports of Spanish firms with foreign participation. In this, it is shown that the tendency to export is greater on the part of the firms with foreign participation than on the part of those without foreign participation; also, we can see how much greater the foreign participation in social capital is in those which export more. The same occurs in the case of imports.
The sectors for which the total need for intermediate imports has grown most as a proportion of final demand are primary, energy, food products, chemicals (with the exception of chemical textile fibres), production of non-electrical machinery, iron and steel, preserved food and drinks, leather and shoes. The technological change has, therefore, in a sense made the flow of imports of intermediate inputs more intense. Along the same lines, some important alterations throughout the period 1962-1975 have taken place in the structure of the final demand, in which the relative importance of gross capital formation and of exports has grown.
Around the year 1993) and would require keeping its absolute level constant for one or two years. i. P. Thirlwall 35 external debt. We recommend at least a 5 year rescheduling programme for the debt service, so that it might be consistent with the 5 % growth target. Finally, an annual export growth rate of 10% would very quickly exhaust any existing excess capacity and face an investment constraint (and may be also a supply constraint of skilled labour). This brings us to the role played by the public sector deficit.