Drivers of Spain’s Export Performance and the Role of the Labor Market Reforms

December 13, 2018

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Format: Chicago

Jorge Salas. Drivers of Spain’s Export Performance and the Role of the Labor Market Reforms, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Spain’s export performance strengthened after the global financial crisis, and exports now represent more than a third of GDP. This paper argues that several factors contributed to that achievement: external demand, supported by greater diversification of destination markets; enhanced export orientation of Spanish firms, partly as a response to lower domestic demand after the crisis; and competitiveness gains, reflecting in part changes in the labor market following structural reforms adopted in 2010 and 2012. Based on cross-country panel regressions linking real export growth to employment protection indicators, those labor market reforms are estimated to account for nearly one-tenth to above one-quarter of Spain’s total export growth rate from 2010 to 2013.

Subject: Export performance, Exports, International trade, Labor, Labor market flexibility, Labor market reforms, National accounts, Real exports

Keywords: Advanced Economies, Competitiveness, Employment Protection, Export growth, Export performance, Export quality, Exports, Global, Goods export, IMF staff calculation, Labor market flexibility, Labor market reform, Labor Market Reforms, Real exports, Spain, WP

Publication Details

Pages:

23
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2018/283
Stock No:

WPIEA2018283
ISBN:

9781484386941
ISSN:

1018-5941

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