西班牙的教益

发自米兰——西班牙经济正逐渐引发投资者的关注——不仅是因为当前形势下地产价格低迷(这对长期价值投资者来说意味着一个良好的买入点)。虽然仍需克服众多严峻问题,但明显感觉当地经济大约在今年初已经经过了一个拐点。

怀疑论者认为,如果无法接通信贷渠道,复苏的春天也不会到来,但该渠道仍然在许多银行资产负债表的受损之下陷于停滞。虽然恢复全面就业和可持续增长的道路不会一蹴而就,但进展可能超出大多数观察家的预计。

人们很容易迷失在复苏模式的细节之中,因此建立健全的潜在增长评估框架将有所帮助。事实上,可以将西班牙经济视为一个经典案例,其增长模式本身是有缺陷的,随后又出现了一个主要由贸易部门推动(但有所滞后),可预测,并且是政策辅助的复苏。

To continue reading, please log in or enter your email address.

To access our archive, please log in or register now and read two articles from our archive every month for free. For unlimited access to our archive, as well as to the unrivaled analysis of PS On Point, subscribe now.

required

By proceeding, you agree to our Terms of Service and Privacy Policy, which describes the personal data we collect and how we use it.

Log in

http://prosyn.org/ioZeQS3/zh;

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated cookie policy and privacy policy.