Abstract
The deadline of January 1993, marking the full liberalization of capital movements, combined with the additional changes implied by the integration into the European Community (EC), represents a formidable challenge for Spain. The behaviour of all economic actors will be deeply affected as the traditional autarkic structure of the Spanish economy will be rapidly eliminated to give way to a more modern, but also more dependent, economy. In particular, the authorities will have to reassess every aspect of economic policy. The right reaction to these changes will determine whether Spain can be included in the club of richer northern EC countries or whether it will remain a peripheral state in the Community.
Financial support from the Fundación Banco Bilbao Vizcaya is gratefully acknowledged.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Editor information
Editors and Affiliations
Copyright information
© 1992 Heather D. Gibson and Euclid Tsakalotos
About this chapter
Cite this chapter
Bacchetta, P. (1992). Abolishing Capital Controls in Spain: A Challenge for the Nineties. In: Gibson, H.D., Tsakalotos, E. (eds) Economic Integration and Financial Liberalization. St Antony’s/Macmillan Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12146-5_7
Download citation
DOI: https://doi.org/10.1007/978-1-349-12146-5_7
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-12148-9
Online ISBN: 978-1-349-12146-5
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)