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Moving Towards a More Dynamic Business Sector in Spain

Author

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  • Alberto González Pandiella

    (OECD)

Abstract
Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened. Boosting economic growth requires a new generation of high-growth companies and that resources flow towards the most productive firms. For this to happen, barriers to business growth have to be reduced by streamlining regulations and licencing procedures, internationalisation needs to be fostered, and competition strengthened. In addition, the negative impact of the crisis on companies, notably the high level of indebtedness and difficulties to obtain financing faced by some firms has to be relieved. This would be facilitated by more efficient insolvency procedures and further development of non-bank financing. Dynamiser le secteur des entreprises en Espagne Les efforts faits par les autorités pour revitaliser l’entrepreneuriat et l’investissement en Espagne revêtent un rôle essentiel pour soutenir la croissance et la création d’emplois. Un important programme de réformes a été mis en oeuvre afin de faciliter l’activité d’entreprise en Espagne, dont certains aspects devraient être approfondis. Pour stimuler la croissance économique, il faut que voit le jour une nouvelle génération d’entreprises à forte croissance et que des ressources soient acheminées vers les entreprises les plus productives. Dans cette optique, les obstacles à la croissance des entreprises doivent être réduits en simplifiant les réglementations et les procédures d’agrément, l’internationalisation doit être encouragée et la concurrence doit être renforcée. En outre, les effets négatifs de la crise sur les entreprises, notamment le niveau élevé d’endettement et les difficultés rencontrées pour obtenir des financements, doivent être atténués, ce qui exige des procédures d’insolvabilité plus efficaces et un développement plus marqué des financements non bancaires.

Suggested Citation

  • Alberto González Pandiella, 2014. "Moving Towards a More Dynamic Business Sector in Spain," OECD Economics Department Working Papers 1173, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:1173-en
    DOI: 10.1787/5jxszm2k7fnw-en
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    More about this item

    Keywords

    analyse des parts de marché constantes; business sector; capital risque; certifications; competition; competitiveness; compétitivité; concurrence; constant market share analysis; corporate tax; credit register; effet de la structure; effet de part de marché; efficacité judiciaire; electricity; endettement; entrepreneuriat; entrepreneurship; Espagne; exportations; exports; firm size; impôt des sociétés; indebtedness; insolvabilité; insolvency; internationalisation; internationalisation; jeunes entreprises; judicial efficiency; licences; market share effect; mutual guarantee schemes; ports; ports; productivity; productivité; professional services; registre de crédit; regulation; regulators; réglementation; régulateurs; secteur des entreprises; services professionnels; sociétés de caution mutuelle; Spain; spécialisation du commerce; structure effect; taille des firmes; trade specialisation; venture capital; young firms; électricité;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • F10 - International Economics - - Trade - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General

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