Articles
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Digitalisation of Spanish companies: An EU comparison
1 February 2023
In contrast to the Spanish economy’s relatively low productivity levels, overall, Spanish companies are relatively highly digitalised. However, a high percentage of Spanish companies use digital technology to control worker performance (relative to alternative uses in companies
in more productive countries) and have relatively low levels of organisational capital
(complementary to digital capital).
Autores: Rivera Torres, Pilar, Salas Fumás, Vicente
Tags: Corporate digitalisation
Spain’s trade competitiveness relative to the eurozone
Spanish exports registered nominal growth of 40% between 2012 and 2021, the highest rate among the euro area’s five largest economies. While the Spanish economy is capable
of improving its internal cost competitiveness and transforming those gains into export
growth, Spain’s export intensity remains below its weight as an economy within the universe
of benchmark economies.
Autores: Xifré, Ramon
Tags: External competitiveness
Importance and characteristics of the bancassurance business in Spain
The weight of bancassurance in Spain´s insurance business and its contribution to parent banks’ domestic earnings are very significant. As a result, as evidenced by the recent COVID-19 crisis, as well as in normal times, the relatively substantial contribution of the
bancassurance business lends earnings stability and solidity to the banks with the most developed such businesses.
Autores: Manzano, Daniel
Tags: Bancassurance market
Corporate finance: Banks versus capital markets
Tension in the corporate bond market since the start of the inflationary spiral towards the
end of last year has driven a sharp increase in secondary market rates, as well as a sharp contraction in primary market issuance, forcing many corporates back to the bank financing channel they had previously abandoned. Nonetheless, rather than seeing this development
as a setback, it reflects the complimentary rather than substitutive nature of bank and
market corporate financing, with the banks acting as a back-up option when the bond markets are temporarily unable to finance the productive apparatus.
Autores: Alberni, Marta, Berges, Ángel, Rodríguez, María
Tags: Corporate financing
Monetary policy 2023 and interest rate increases: Outlook and impact
The monetary policy roadmap for 2023 will continue to prioritize the fight against inflation, with successive official rate increases at least for much of the year, although accompanied by a slower increase in EURIBOR. Within this context, the banks will continue to play a key role in credit provision to the economy, yet while they could face improved income prospects, notable challenges exist within the prevailing uncertain climate.
Autores: Carbó Valverde, Santiago, Rodríguez Fernández, Francisco
Tags: Monetary policy
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