The Internationalization of the Spanish Economy

203 Pages·2002·1.055 MB·Spanish

by  William Chislett

William Chislett
The Internationalization
of the Spanish Economy
RealInstitutoElcano
de Estudios Internacionales y Estratégicos
William Chislett
was born in Oxford in 1951. He reported on Spain’s 1975-78
transition to democracy for The Times. Between 1978 and 1984
he was based in Mexico City for The Financial Times, covering Mexico and Central America, before returning to Madrid in 1986
as a writer and translator. He has written books on Spain, Portugal,
Chile, Ecuador, Panama, Finland, El Salvador and Turkey for
Euromoney Publications. The Writers and Scholars Educational
Trust published his The Spanish Media since Franco in 1979. Banco Central Hispano published his book España: en busca del éxito in 1992 (originally published that same year by Euromoney),
Spain: at a Turning Point in 1994, and Spain: the Central Hispano
Handbook, a yearly review, between 1996 and 1998. Banco
Santander Central Hispano published his dictionary of economic
terms in 1999 and his Spain at a Glance in 2001. He wrote most
of the section on Latin America for the World Business Almanac
(Bloomsbury, 2002). He is currently writing a book on Spanish
investment in Latin America for the Real Instituto Elcano, to be
published in 2003. He is married and has two sons.
Some comments on previous books on Spain
The book is intelligent and authoritative and essential reading for anyone concerned with Spain.
Sir Raymond Carr
Stylish and impressive.
Eric Hobsbawm
For up-to-date information and perceptive analysis presented in
an elegant and incisive style, academics, economists, journalists
and Hispanophiles in general are in William Chislett’s debt.
Paul Preston, Professor of International History, (cid:3)London School
of Economics
No one surveys the data more comprehensively, digests it more
efficiently, relates it more lucidly or presents it with more critical
intelligence.
Felipe Fernández-Armesto
Crisply written and superbly well organised, it is a mine of information for businessmen, journalists and academics and indeed
anyone with an interest in the country.
Edwin Williamson, Professor of Hispanic Studies, (cid:3)University of
Edinburgh
My staff found it to be an extremely valuable resource.
Richard Gardner, former US Ambassador to Spain
A triumph of selection, concision and exposition.Alex Longhurst, Professor of Hispanic Studies, University of Leeds, International Journal of Iberian Studies
Most skilful in combining information with readability … my vade mecum for contemporary Spain.
Sir John Elliott, former Regius Professor of Modern History,
University of Oxford
Jacket illustration: Facade of the Guggenheim Museum in Bilbao.
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The Internationalization
of the Spanish Economy
William Chislett
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Published by the Real Instituto Elcano
de Estudios Internacionales y Estratégicos
The information contained herein has been compiled from sources believed to be reliable but,
while all reasonable care has been taken to ensure that the information is not untrue or
misleading at the time of publication, the Real Instituto Elcano de Estudios Internacionales y
Estratégicos makes no representation that it is accurate or complete and it should not be relied
upon as such. All opinions and any mistakes are solely those of the author.
www.realinstitutoelcano.org
© William Chislett
Design and layout: Olivé | López | Lara
Printed by: Litofinter, S.A.
Legal number:
Free copy. No sales allowed.
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For Tom Burns, Ian Gibson, Gabriel Jackson
and Michael Jacobs, con afecto y admiración
Spain is not so different, so special as it is manipulatively said to be. We must stamp out once
and for all the idea that Spain is an anomalous country … a case apart, an exception that
justifies any action.
Julián Marías (1965)
Spain is different.
Tourism Ministry slogan in the 1960s
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Acknowledgements
This book is an attempt to view Spain within the globalized context wherever possible.
I have included “non-economic” subjects such as education, immigration and
demographics because of their major impact on the economy. I am particularly grateful
to Emilio Lamo de Espinosa, the director of the Real Instituto Elcano de Estudios
Internacionales y Estratégicos, for commissioning this book.
I would also like to thank the following people for their help: Susana Aguilar;
Terry Baker–Self, research editor of The Banker; Eva Barrionuevo Jiménez, executive
manager of the Association of Well-known Spanish Brands; David Burns, director
general of the branch in Spain of Schroder Investment Management; Maribel Cambón,
Antonio Cortina and María Guardiet of Santander Central Hispano’s Research
Department; Salustiano del Campo; Josep Carrau, chief economist of La Caixa;
Louise Corselli-Nordblad of Eurostat’s press office; Anne Davis, media relations,
World Bank; Fernando Fernández, rector of the European University of Madrid;
Daniel Franklin, editorial director of the Economist Intelligence Unit (EIU);
Masataka Fujita, office-in-charge, Investment Trends Section, United Nations
Conference on Trade and Development (UNCTAD); Domingo García, head of the Madrid
Stock Exchange’s research department; Richard Gillespie, professor of politics at
the University of Liverpool; Chris Garnett, CEO of Latin Finance; Adela Gooch, Spain
correspondent of The Economist; Keith Grant; Lea Gynther, administrator, country
studies, International Energy Agency; Anders Halvorsen, senior programme manager of
the World Information Technology and Services Alliance (WITSA); José A. Herce,
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executive director of FEDEA; Carmen Hernansanz, Banco Bilbao Vizcaya Argentaria’s
research department; Edward Holland, manager, international media relations of
Telefónica Móviles; Jana Kotalik, news editor of Transparency International;
Jaana Kurjenoja, chief economist of the Taxpayers’ Association of Finland;
Nicole Levourch of the OECD’s Press Office in Paris; Elena Martín Tubía of Spain’s
Directorate General of Trade and Investment; Fon Mathuros, public relations officer of
the World Economic Forum; Luis Miguel Nanclares; Mariano Morcate, Santander Central
Hispano; Vicenç Navarro, professor of political and social sciences at the Pompeu Fabra
University; Miguel Ormaextea, editor of Dinero; Víctor Pérez Díaz, professor of
sociology at the Complutense University, Madrid; Charles Powell; Juan Romo,
head of research at CB Richard Ellis in Madrid; Miguel Sebastián, chief economist of
Banco Bilbao Vizcaya Argentaria; Carmelo Tajadura, Banco Bilbao Vizcaya Argentaria;
Nigel Townson; Christine Travers, project coordinator of the World Competitiveness
Yearbook (International Institute for Management Development); Fernando Úbeda;
Benito Vera senior utilities analyst at Santander Central Hispano Bolsa; Xavier Vives,
professor of economics and finance, INSEAD; and Hania Zlotnik, UN Population
Division.
I found the publications of the Bank of Spain, Banco Bilbao Vizcaya Argentaria,
the BBVA Foundation, La Caixa, the Institute of Economic Studies (IEE) and Santander
Central Hispano Bolsa very useful. The book La Marcas Renombradas Españolas,
published by the Association of Well-Known Spanish Brands, contains a wealth of
information on the “Made in Spain” image. I am very grateful to Jorge Hay, Paul Isbell
and Valeriano Muñoz for their careful reading of the manuscript and making valuable
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suggestions and to Thomas Dauterman for copiously editing the text. I also thank my
sons Tomás and Benjamin for rescuing me from largely self-generated computer crises
and my wife Sonia for her continued forbearance of my often anti-social working hours.
William Chislett
Madrid and Buendía, July 2002
[email protected]
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Contents