To celebrate the 25th anniversary of the Valencian Institute of Economic Research (Ivie), Francisco Pérez, Research Director of the Ivie, and Joaquín Maudos, Research Deputy Director, both Professors of Economic Analysis of the Universitat de València, together with Pilar Chorén, Managing Director, have presented to the media the Institute’s achievements since 1990 and in parallel a comprehensive analysis of the evolution of the Valencian economy during last 25 years.
25 years studying changes in the economy
Ivie was set up in 1990 to foster economic research in the Valencian Region, and to disseminate results throughout the rest of Spain and abroad. Since then, dozens of first-rate researchers and economists have conducted hundreds of studies. The Ivie has contributed to deeper analyses of the sources of growth by means of the creation of excellent national and international data bases, by building bridges between the University and firms and society, and establishing stable relationships with economic operators and Spanish and international scientific institutions through its participation in several European research projects. Since 2013, the Ivie is a research center associated to the University of Valencia benefiting from the support of the Valencian Government, Bankia, the BBVA Foundation, Ford and the Cañada Blanch Foundation, among other institutions.
25 years of the Valencian economy (1990-2015)
The directors of the Ivie have analyzed the evolution of the Valencian economy from different perspectives (population, income, production structure and productivity, internationalization, innovation, public sector). Some of their conclusions are the following:
- During the last 25 years, GDP per capita in the Valencian Region has grown 27% against 38% in Spain
- The Valencian unemployment rate is now 8.2 points higher than in 1990 and 1.2 points higher than Spain’s
- Labor productivity of the Valencian economy is low and hardly grows, currently being 9% below average
- The impact of the crisis has moved the Valencian Region away from Spain’s per capita income, at the moment 11% lower
- Per capita public expenditure is 20% lower than the average and its level of funding is insufficient
- The recovery of income and employment is being more intense in the Valencian Region
More information (in Spanish)
Interview with Francisco Pérez on Cadena Ser