{"id":4728,"date":"2021-06-03T06:59:58","date_gmt":"2021-06-03T04:59:58","guid":{"rendered":"http:\/\/webecpol.esade.edu\/publicaciones\/por-que-next-generation-eu-podria-ser-un-regalo-envenenado-para-las-reformas-en-espana\/"},"modified":"2026-09-16T18:29:27","modified_gmt":"2026-09-16T16:29:27","slug":"por-que-next-generation-eu-podria-ser-un-regalo-envenenado-para-las-reformas-en-espana","status":"publish","type":"publicaciones","link":"http:\/\/webecpol.esade.edu\/ca\/publicacions\/por-que-next-generation-eu-podria-ser-un-regalo-envenenado-para-las-reformas-en-espana\/","title":{"rendered":"Per qu\u00e8 Next Generation EU podria ser un regal enverinat per a les reformes a Espanya (i com evitar-ho)"},"content":{"rendered":"<ul>\n<li>Espanya fa anys que divergeix en termes de productivitat respecte a les economies avan\u00e7ades del centre i el nord d\u2019Europa. A aquesta diverg\u00e8ncia cal sumar-hi l\u2019impacte asim\u00e8tric de la crisi econ\u00f2mica provocada per la pand\u00e8mia, que ha colpejat amb molta m\u00e9s virul\u00e8ncia els pa\u00efsos del sud d\u2019Europa.<\/li>\n<li>Per corregir aquestes difer\u00e8ncies de competitivitat no n\u2019hi ha prou amb inversions: tamb\u00e9 calen reformes estructurals. Tanmateix, els incentius actuals per dur a terme aquest tipus de reformes no podrien ser menys favorables.<\/li>\n<li>Una mirada a la teoria i a la hist\u00f2ria recent de les reformes estructurals a la UE mostra que els pa\u00efsos tendeixen a reformar m\u00e9s quan els seus governs tenen majories fortes o quan tenen restriccions externes que els hi obliguen (pressi\u00f3 dels mercats financers o programes de rescat, per exemple).<\/li>\n<li>\u00c9s molt probable que la pol\u00edtica monet\u00e0ria ultralaxa del BCE, combinada amb una arribada massiva de fons i una governan\u00e7a feble de Next Generation EU (NGEU) en l\u2019\u00e0mbit de les reformes, es tradueixi en una oportunitat perduda per a l\u2019impuls de la productivitat al sud d\u2019Europa.<\/li>\n<li>Per evitar aquest escenari, NGEU hauria d\u2019abandonar l\u2019estrat\u00e8gia de llistes interminables de reformes que ha fracassat repetidament en el passat recent de la UE i centrar-se en un enfocament similar al plantejat per Ricardo Hausmann i els seus coautors, pel qual s\u2019insta els governs a centrar-se en els colls d\u2019ampolla i a canalitzar el capital pol\u00edtic limitat a desbloquejar les tres o quatre reformes m\u00e9s determinants per al creixement econ\u00f2mic.<\/li>\n<li>La manca d\u2019ambici\u00f3 en l\u2019\u00e0mbit de les reformes estructurals a Espanya i al sud d\u2019Europa pot comportar no nom\u00e9s una enorme oportunitat perduda per a Espanya, sin\u00f3 tamb\u00e9 un risc seri\u00f3s per a la UE: en les delicades condicions pol\u00edtiques actuals, el frac\u00e0s de NGEU podria ser molt perjudicial per al renovat impuls de la integraci\u00f3 europea.<\/li>\n<\/ul>\n<p><i>Una versi\u00f3 anterior d\u2019aquest informe es va publicar en angl\u00e8s per a l\u2019Anuari de l\u2019Euro, de Bruegel i l\u2019ICO, per Fernando Fern\u00e1ndez.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Es muy probable que la pol\u00edtica monetaria ultra-laxa del BCE, combinada con una llegada masiva de fondos y una d\u00e9bil gobernanza de Next Generation EU (NGEU) en el \u00e1mbito de las reformas resulte en una oportunidad perdida para el impulso de la productividad en el sur de Europa.<\/p>\n","protected":false},"featured_media":4710,"template":"","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - 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