Inclusive growth: global and European lessons for Spain
Can manufacturing still be a driver for inclusive growth around the world? What European and national policies can foster inclusive growth in Europe? What is the situation in Spain and what can Spain learn from the global and European experiences?
On 31 May Bruegel organised an event in Madrid that aimed to take global, European and national perspectives to discuss the policy-relevant social and economic aspects of inclusive growth. The event was hosted by Fundacion ICO and supported by funding from the Mastercard Center for Inclusive Growth.
In his keynote lecture Professor Robert Lawrence from the Harvard Kennedy School took a global perspective to assess whether manufacturing can still be a driver of inclusive growth. While manufacturing has traditionally allowed workers without advanced degrees to earn middle class incomes, the share of manufacturing jobs has plunged in advanced countries, as well as not increasing sufficiently in emerging economies. This deindustrialization has arguably produced populist political reactions like Brexit and the election of Donald Trump. What are the structural forces that link manufacturing employment to inclusive economic growth in advanced and emerging economies?
A European perspective was provided by Zsolt Darvas from Bruegel. With only seven percent of the world’s people but about half of its welfare payments, the European Union’s levels of inequality and absolute poverty are low in a global context. Nevertheless EU faces major social challenges and there are large differences between EU countries. Unemployment remains high in a number of member states, while the intergenerational divide between the young and the old has widened. Social mobility is weak, in particular in the more unequal economies of southern Europe, limiting opportunities for the children of poor and disadvantaged families. What European and national policies should foster inclusive growth?
The two presentations were followed by a Spanish perspective from Federico Steinberg (El Cano Royal Institute) and a corporate perspective by Alejandra Kindelan (BBVA).
Welcome and introduction
Cristina Cabrera, Director, Fundación ICO
Keynote speech: Can manufacturing still be a driver of inclusive growth?
Robert Lawrence, Albert L. Williams Professor of International Trade and Investment at Harvard Kennedy School and Senior Fellow at the MasterCard Center
Presentation: Inclusive growth in Europe
Zsolt Darvas, Senior Fellow
Federico Steinberg, Senior Analyst, Elcano Royal Institute
Additional speakers to be confirmed
Alejandra Kindelán, Head of Economic Research and Public Policy, Banco Santander
Director, Fundación ICO
Head of Economic Research and Public Policy, Banco Santander
Albert L. Williams Professor of International Trade and Investment at Harvard Kennedy School and Senior Fellow at the MasterCard Center
Senior Analyst, Elcano Royal Institute
Location & Contact