Search results for "Economic bubble"
showing 3 items of 3 documents
The Spanish Case: The Housing Market Bubble and External Disequilibria
2013
The chapter recalls the major issues at stake in the Spanish economy since 1996, a time when financial markets started to discount the Spanish entry into the Eurozone. We start with a brief analysis of the most recent economic developments, and the current macroeconomic imbalances. As of 2007, the Spanish economy underwent its worst period in recent history, since the Stabilisation Plan was implemented in 1959. When 2008 came, however, what was most worrying was the sense of disarray that the Government projected: it simply took measures against the global financial crisis, as though this were the major, and indeed, the only crisis to cope with. Nevertheless, what affected the Spanish econo…
A new scenario for banks: glocal banking. A theoretical approach to propose for Europe
2017
In the early 1990s, with the development of information and communication technology (ICT), global banks began looking for a new world consisting of markets rather than relationships through the development of standardised services in the markets. However, in the early 21st century, with the collapse of the speculative bubble and the financial crisis of 2008, which caused financial instability and damaged the real economy, the entire banking system and the market itself suffered profound changes in profitability. Thus, began efforts to develop a new cultural relationship between banks and companies known as 'glocal banking'. These include: studying the needs of customers, planning and provi…
(Un)Sustainable Territories: Causes of the Speculative Bubble in Spain (1996–2010) and its Territorial, Environmental, and Sociopolitical Consequences
2012
In this paper we analyse the causes of the Spanish property model and its territorial, social, and political consequences. Particular attention is paid to sociopolitical contexts. These consequences include excessive dependence on economic activity and employment in the housing construction sector, the irreversible disappearance of landmarks in the country’s collective history and culture, and examples of ‘policy capture’, especially at local and regional levels. This lengthy process has led to corruption in town planning and an increase in poor policy decisions, greatly harming Spain’s reputation. Keywords: urban sprawl, speculative property bubble, unbalanced growth, recession, corruption…