The Spanish economy finds itself in significant difficulty to overcome the crisis. The serious obstacles it faces to boost demand, through the injection of financial resources, underscore the need to support recovery through changes that will improve the functioning of the productive system, addressing structural reforms which have been delayed for years. Many of these require action on the part of the supply side to improve private sector productivity and public sector efficiency.

The results of the reforms will be seen especially in the medium and long term, but may also have more immediate effects. For this to happen, there must be clear signs of a collective willingness to address problems and make the necessary adjustments to restructure and reorganize Spain's production, making it more flexible and thus laying the groundwork for a different growth pattern. If this is achieved, it will be less difficult to regain the confidence of the markets (whose resources are needed given our high level of debt) and more viable to count on funding for recovery.

The necessary adjustments require numerous changes in the way the labour market works, as well as the organization of many companies and public administrations. The reforms affect the interests of both individuals and groups, and when short-term private costs are weighed up against collective and uncertain benefits in the long term they lead to resistance. The greatest danger is that this resistance further delays the adjustments and solutions. This risk is still greater when the reforms are only partially examined: that is, by focusing only on some of the changes encourages the perception that the costs and sacrifices are concentrated on certain social groups. So as to reduce this problem the perspective should be broadened, with the necessary reforms in the labour market, enterprises and public sector being considered as a whole. That is the purpose of this conference of reflection and debate, organized as an activity within the BBVA Foundation-Ivie Economic Research Programme.

The conference will be attended by experts with wide experience, as well as academic and professional prestige. Their participation will be grouped into two sessions. The first will focus on reforms in the private sector, considering the necessary changes in the labour market and the business community, along with their relationship with growth and productivity. The second will deal with reforms in the public sector, exploring the characteristics of its different levels and functions, both in terms of efficiency and equity.

Francisco Pérez, Universitat de València e Ivie

Javier Andrés, Universitat de València
Ángel Estrada, Ministerio de Economía y Hacienda
Luis de Guindos, Centro del Sector Financiero de PwC e IE Business School
Matilde Mas, Universitat de València e Ivie
Joaquín Maudos, Universitat de València e Ivie
Francisco Pérez, Universitat de València e Ivie
Javier Quesada, Universitat de València e Ivie
Vicente Salas, Universidad de Zaragoza y Banco de España

Fundación Universidad – Empresa, Adeit
Plaza Virgen de la Paz, 3
46001 Valencia