Spain and the `EEC cum 1992' Shock

摘要: This paper provides a conceptual framework to analyze the main economic issues raised by Spain's integration into EEC and vast reforms associated with 1992 European Internal Market. The "EEC cum 1992" event can be described as major anticipated permanent shock both real financial consequences. In case of Spain it is found that country enjoy significant potential long-term gains from full through exploitation its comparative labor cost advantage existing scale scope economies. Nevertheless, for these made effective while minimizing short- medium-term adjustment costs, critical functioning market improved, capital markets further developed fiscal policy share monetary burden achieving internal external balance.