Victor Echevarria is a senior economist for Spain in BBVA Research.Previously he was a senior macroeconomics and financial markets analyst at Analistas Financieros Internacionales (AFI). Before joining AFI he worked at BNP Paribas in London as an economist for the eurozone and in BBVA as country risk analyst. Prior to this his experience was in public institutions, such as the Bank of Spain and the International Monetary Fund.He has a Bachelor’s Degree in Economics from Carlos III University in Madrid and a Master’s Degree and PhD from Complutense University in Madrid. He has been published in prestigious academic journals covering matters pertaining to the Spanish economy and the eurozone. He is currently enrolled in a master’s programme in Data Analysis and Big Data at Escuela de Finanzas Aplicadas.
Between 2013 and 2018, the disparities in GDP per capita between the Autonomous Communities have barely reduced. This is unusual given that regional convergence in Spain has always appeared to be cyclical in nature.
Regional convergence has been slow during the recovery. Lower income regions are creating employment at high rates but their low productivity growth is a burden. Attracting investment, reducing employment procyclicality and policies aimed at improving demographic dynamics would boost convergence.
The ranking in the growth of 2019 remains unchanged: Madrid, Murcia, Castilla-La Mancha and Navarra would have led the progress of the activity the previous year. Forward, the centre would continue to lead the dynamism.