Infografía Blog IA 1 (Inglés)

DIAGNOSIS

FOCAL POINTS

CHALLENGE

• Constraints on firm size and demographics and on resource allocation.
• Human and technological capital and the drivers of investment in innovation.
• The regulatory and institutional framework.

• Productivity growth is slowing more than in other developed countries.

PRODUCTIVITY

• Relatively small size.
• Little rotation: few new firms are created and few disappear.
• Both factors limit productivity gains.

• Quantity and quality of regulations
• Access to non-bank financing.
• Fostering market unity.
• Employment and tax-related regulatory thresholds.

• Ralentización del crecimiento de la productividad, mayor que en otros países desarrollados.

FIRM SIZE AND STRUCTURE

• Keeping students in the education system, with support for the most vulnerable.
• Vocational training: incentives for dual programmes.
• Universities: the funding system and the mismatch between supply and demand.
• Financial literacy.

• The standard of education still falls short of European levels.
• The university education on offer is slow to respond to new demands.

• Ralentización del crecimiento de la productividad, mayor que en otros países desarrollados.

HUMAN CAPITAL

• Minor role of innovation and technological capital.
• Nonetheless, investment in intangibles has grown notably since the pandemic.

• Stability of the regulatory framework and institutional environment.
• Fiscal incentives for innovation.
• Access to external finance, venture capital markets.

INVESTMENT IN CAPITAL AND INNOVATION

• Quality of regulations
• Effective government: effectiveness and efficiency of general government, including the judicial system.

• Compared with other countries, the quality of and trust in institutions has declined since the global financial crisis.

THE INSTITUTIONAL FRAMEWORK

• Ralentización del crecimiento de la productividad, mayor que en otros países desarrollados.