Publications

Regional convergence in per capita income in Spain had advanced for decades but stalled since the Global Financial Crisis. The halt in productivity convergence and its growing correlation with employment and participation explain the persistence of territorial inequalities.

The INE's updated regional GDP estimates for 2024 do not introduce significant changes to the growth hierarchy, which, as noted in September, was led by Murcia and the island regions.

Growth above the national average: Andalusia's GDP will advance by 3.2% in 2025, moderating to 2.3% in 2026, but remaining above the historical average.

In 2025, Navarre's GDP could grow by 2.4%, and this growth is expected to continue in 2026. Looking ahead, economic activity will be marked by high uncertainty surrounding economic and trade policy and the slow recovery in Europe.

The GDP growth forecast has been revised upward across the board for 2025 and 2026. The revision is due to the resilience of economic activity, especially exports of both goods and services, as well as investment playing a more important role in the recovery than previously thought.

Mexico's economy slowed by mid-2025. Growth in Q2 2025 was concentrated in primary activities (+4.5%) and services (+1.1%), while industry contracted (−1.3%). Services, particularly tourism and trade, drove stronger performances in CDMX and Baja California. The automotive sector saw declining exports due to new tariffs.

This paper presents a methodological framework to quantify the economic impact of natural disasters. It estimates a damage function and measures employment effects using a dynamic spatial model. The 2024 DANA in Valencia validates the approach and highlights the importance of both location and compensation mechanisms.