The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This Selected Issues paper quantifies the macroeconomic effects of fiscal policy in Spain, focusing on the external sector. It describes the stylized facts of the Spanish economy and presents an econometric analysis. It examines Spain's growth and productivity performance in relation to a broad sample of peer economies with an emphasis on recent trends and growth implications. It also employs growth accounting and discusses the productivity lag of Spain.