The Tax Treatment of Savings in Spain facing the Liberalization of Capital Movements and Monetary Integration in Europe

  • M. A. Lasheras
  • M. A. Monés


One of the variables that explain the high rates of unemployment during the last decade in Spain is that of the low level of capital stock resulting from the long recession experienced between 1975 and 1985.1 Therefore, in order to bring about a reduction of unemployment at an annual rate of 1 per cent up to 1992, gross capital formation in Spain would have to increase at a real rate of around 8 per cent.2


Interest Rate Monetary Policy Fiscal Policy Capital Movement European Monetary System 
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Copyright information

© Confederation of European Economic Associations 1992

Authors and Affiliations

  • M. A. Lasheras
  • M. A. Monés

There are no affiliations available

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