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Supported by GESCE-URJC, GID-TICTAC CCEESS-URJC, Henry Hazlitt Doctoral Center-UFM, HOS-UEMC, INES-UNIR & TRANS-REAL LAB-UVA.

Analysis of institutional authors

Alonso-Neira, Miguel AngelCorresponding AuthorSanchez-Bayon, AntonioAuthor

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Spanish Boom-bust Cycle Within the Euro Area: Credit Expansion, Malinvestments & Recession (2002-2014)

Publicated to:Politicka Ekonomie. 72 (4): 597-625 - 2024-01-01 72(4), DOI: 10.18267/j.polek.1429

Authors: Alonso-Neira, Miguel angel; Sanchez-Bayon, Antonio

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Abstract

This critical review explains the negative impact of the euro on the Spanish economy and its distortion in the period from 2002 to 2014. In this first cycle within the euro area, there was a financial boom, without voluntary savings, which generated a lack of coordination in the economic process and structure. The result was a bubble of overconsumption and malinvestments, which burst with a deflation of capital and wages, and a switch from construction industry to tourism services as Spain's main economic sector. The economic distortion was such that it delayed the exit from the Great Recession of 2008 and the European Financial Crisis of 2010 until 2014, with a recovery and the beginning of a new cycle. The Austrian business cycle theory and capital-based macroeconomics are used to support and illustrate the case study, with quantitative techniques: not to predict, but only to show the real development and to facilitate dialogue with other economic schools.

Keywords

Austrian economicsBoom-bust cycleBusiness-cycleCapital-based macroeconomicsEconomic historyEconomic history and institutionEmpirical relevanceEuro monetary policyExpectationsInstitutionsLaMises-hayek theoryModelMoneySticky pricesTimeWage

Quality index

Bibliometric impact. Analysis of the contribution and dissemination channel

The work has been published in the journal Politicka Ekonomie, and although the journal is classified in the quartile Q4 (Agencia WoS (JCR)), its regional focus and specialization in Economics, give it significant recognition in a specific niche of scientific knowledge at an international level.

Independientemente del impacto esperado determinado por el canal de difusión, es importante destacar el impacto real observado de la propia aportación.

Según las diferentes agencias de indexación, el número de citas acumuladas por esta publicación hasta la fecha 2025-06-09:

  • WoS: 1
  • Scopus: 2

Impact and social visibility

From the perspective of influence or social adoption, and based on metrics associated with mentions and interactions provided by agencies specializing in calculating the so-called "Alternative or Social Metrics," we can highlight as of 2025-06-09:

  • The use of this contribution in bookmarks, code forks, additions to favorite lists for recurrent reading, as well as general views, indicates that someone is using the publication as a basis for their current work. This may be a notable indicator of future more formal and academic citations. This claim is supported by the result of the "Capture" indicator, which yields a total of: 4 (PlumX).

It is essential to present evidence supporting full alignment with institutional principles and guidelines on Open Science and the Conservation and Dissemination of Intellectual Heritage. A clear example of this is:

  • The work has been submitted to a journal whose editorial policy allows open Open Access publication.

Leadership analysis of institutional authors

There is a significant leadership presence as some of the institution’s authors appear as the first or last signer, detailed as follows: First Author (Alonso Neira, Miguel Ángel) and Last Author (Sánchez Bayón, Antonio).

the author responsible for correspondence tasks has been Alonso Neira, Miguel Ángel.