Publication

This paper examines Spain's integration experience in the European Union in order to study how integration has affected its economic structures and economic performance. It examines the relationship between regional integration, economic growth and economic reforms in this country, and draws some lessons based on its EU integration experience. In particular it looks at the impact of European Monetary Union (EMU) on the Spanish economy. The author argues that while the overall benefits of EMU membership are undeniable, contrary to expectations it has not led to a process of deep economic structural reforms that would have fostered the development of an economic growth model based on value-added and productivity. His examination of the Spanish case shows that the process of economic reforms must be a domestic process led by domestic actors willing to carry them out.