Spain 2014 Article Iv Consultation Staff Report Staff Supplement Press Release And Statement By The Executive Director For Spain

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498308155
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This 2014 Article IV Consultation highlights that economic growth in Spain has resumed, and unemployment is falling. Exporters are gaining market share, and the current account is in surplus for the first time in decades. Financial conditions have improved sharply, with sovereign yields at record lows. Business investment is rebounding strongly and private consumption has also started to recover owing to improved employment prospects and rising confidence. Executive Directors have welcomed the improving Spanish economy. They have stressed that labor market reform should be accompanied by product and service market liberalization to maximize the gains to growth and jobs.

Spain

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"Spain has turned the corner. Growth has resumed, labor market trends are improving, the current account is in surplus, banks are healthier, and sovereign yields are at record lows. But unemployment is unacceptably high, incomes have fallen, trend productivity growth is low, and the deleveraging of high debt burdens - public and private is weighing on growth. Policies. Spain's overarching policy priority must be to ensure the recovery is strong, long-lasting, and most pressingly, job-rich. This requires: Reducing the drag on domestic demand from private sector deleveraging with a more comprehensive, coordinated, approach to corporate debt restructuring, and by introducing a personal insolvency framework. Bolstering banks' ability to support the recovery by continuing to raise capital levels over time, including by limiting cash dividends and bonuses. Creating jobs for the low skilled by sharply cutting the fiscal cost of employing them, compensated by higher indirect revenues. Making the labor market more inclusive and responsive to economic conditions by striking a better balance between highly-protected/permanent and precarious/temporary contracts, and further helping firms adapt working conditions (wages, hours) to their specific circumstances. Helping the unemployed improve their skills and enhancing the support they receive to find a job. Removing regulatory barriers that prevent firms from growing, hiring, and becoming more productive, especially at the regional level. Gradually, but steadily, reducing the fiscal deficit to keep debt on a sustainable path, and making the tax system more growth and job friendly. Policies by Spain's European partners, in particular, sufficient monetary easing by the ECB to achieve its inflation targets"--Abstract.

The Role Of Human Capital In Economic Growth

Author: Mr. Paolo Mauro
Publisher: International Monetary Fund
ISBN: 1451890680
Size: 79.85 MB
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This study constructs an index of human capital for the Spanish labor force over the past two decades and projects it over the next decade on the basis of likely demographic developments. The methodology considers both educational attainment resulting from formal schooling and improvements in workers’ productivity resulting from experience, or “learning by doing.” Furthermore, it allows for the fact that people with higher education accumulate human capital through learning by doing at a faster pace than less educated workers or, in other words, that the full returns to formal schooling are realized with a lag of many years. Using this index, a growth accounting exercise is conducted to estimate the impact of human capital accumulation on economic growth over the past two decades. Finally, potential output growth is projected over the next few years, taking into account the impact of human capital accumulation.

Financial Inclusion

Author: Ms. Era Dabla-Norris
Publisher: International Monetary Fund
ISBN: 1513563874
Size: 37.69 MB
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Countries in Latin America and the Caribbean (LAC) have made important strides in promoting financial inclusion of firms and households. However, while the region is broadly at par with its peers on financial inclusion of firms, household inclusion lags behind. Nonetheless, there is substantial heterogeneity across LAC countries. Reducing borrowing costs and strengthening further the regulatory environment, while taking steps to protect efficiency and stability of the financial system, could help close financial inclusion gaps. Reducing financial participation and monitoring costs and relaxing collateral constraints will help spur growth and reduce inequality though trade-offs are likely, as illustrated in the case of Guatemala, El Salvador, and Peru.

Exchange Rate Assessments

Author: Jaewoo Lee
Publisher: IMF's Occasional Paper
ISBN:
Size: 66.47 MB
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As part of this mandate, since the mid-1990s the IMF Consultative Group on Exchange Rate Issues (CGER) has provided exchange rate assessments for a number of advanced economies from a multilateral perspective, with the aim of informing the country-specific analysis of the IMF's Article IV staff reports and fostering multilateral consistency. These assessments are additional tools at the disposal of the IMF staff country desks, which are responsible for formulating exchange rate assessments as part of the Fund's bilateral surveillance, another of the IMF's core responsibilities.

Organization Development And Change

Author: Thomas G. Cummings
Publisher: Cengage Learning
ISBN: 1305143035
Size: 29.92 MB
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Market-leading ORGANIZATION DEVELOPMENT AND CHANGE, 10th Edition blends rigor and relevance in a comprehensive and clear presentation. The authors work from a strong theoretical foundation to describe, in practical terms, how behavioral science knowledge can be used to develop organizational strategies, structures, and processes. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

The Leadership Challenge

Author: James M. Kouzes
Publisher: John Wiley & Sons
ISBN: 1119278961
Size: 32.84 MB
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The most trusted source of leadership wisdom, updated to address today's realities The Leadership Challenge is the gold-standard manual for effective leadership, grounded in research and written by the premier authorities in the field. With deep insight into the complex interpersonal dynamics of the workplace, this book positions leadership both as a skill to be learned, and as a relationship that must be nurtured to reach its full potential. This new sixth edition has been revised to address current challenges, and includes more international examples and a laser focus on business issues; you'll learn how extraordinary leaders accomplish extraordinary things, and how to develop your leadership skills and style to deliver quality results every time. Engaging stories delve into the fundamental roles that great leaders fulfill, and simple frameworks provide a primer for those who seek continuous improvement; by internalizing key insights and putting concepts into action, you'll become a more effective, more impactful leader. A good leader gets things done; a great leader aspires, inspires, and achieves more. This book highlights the differences between good and great, and shows you how to bridge the chasm between getting things done and making things happen. Gain deep insight into leadership's critical role in organizational health Navigate the shift toward team-oriented work relationships Motivate and inspire to break through the pervasive new cynicism Leverage the electronic global village to deliver better results Business is evolving at an increasingly rapid rate, and leaders must keep pace with the changes or risk stagnation. People work differently, are motivated differently, and have different expectations today—business as usual is quickly losing its effectiveness. The Leadership Challenge helps you stay current, relevant, and effective in the modern workplace.

Twelve Years A Slave

Author: Solomon Northup
Publisher: Courier Corporation
ISBN: 048679184X
Size: 33.44 MB
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The basis for the Academy Award®-winning movie! Kidnapped into slavery in 1841, Northup spent 12 years in captivity. This autobiographical memoir represents an exceptionally detailed and accurate description of slave life and plantation society. 7 illustrations. Index.

Evidence Based Practice In Nursing And Healthcare

Author: Bernadette Mazurek Melnyk, Ph.D. RN
Publisher: Lww
ISBN: 9781451190946
Size: 37.52 MB
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A thoroughly updated edition of this best-selling book is a user-friendly guide to implementing evidence-based practice in nursing and healthcare.