Economic Analysis of the Autonomous Communities

In order to be complete, any study of the situation of the Autonomous Regions requires the use of a series of indicators which enable us to understand the current socioeconomic reality of each territory, as well as monitoring their evolution during recent decades.

In order to describe the economic reality of the regions, both situational and growth indicators are used, which illustrate both the possibilities and the difficulties which the Autonomous Regions currently have to progress in an increasingly changing foreign environment, to which they must constantly and quickly adapt. They are indicators put together using the latest statistical data offered by public bodies in Spain and Europe.

The study of the financial/economic profile of the Autonomous Regions brings us to a qualitatively different context, starting with the evolution, during recent years, of the Autonomous Region’s GDP and the situation of their job market, observing their differing behaviour and causes. Hereafter, analysis of productivity and the productive structure occupies a special role, since productivity, along with the employment rate, is a direct factor of the GDP per inhabitant. Productivity is closely linked to the accumulation of two intangible assets, human capital and technological capital. The different allocations of this kind of assets between the different Autonomous Regions help to explain the differences in production between them. As such, references to human capital indicators are included, as are R & D indicators and transport network indicators. In order to carry out this kind of analysis, demographic aspects cannot be forgotten, and, in particular, the impact that immigration flow has had on regional economies.

The possibility of increasing the productive capacity of the Autonomous Regions and of overcoming the obstacles impeding their full development is closely linked to the policies studied in the economic analysis. The territorial policy, implemented by both central government and the European Union, both in collaboration with the Autonomous Regions, is intended to have a positive impact on the growth of the least developed regions, focussing on the accumulation of productive factors, particularly technological capital, human capital and infrastructures, not forgetting the creation of businesses and the generation of business initiatives.