CARMELA MARTIN is Jean Monnet Professor of European Economic Integration and Professor in Applied Economics in the Universidad Complutense de Madrid. She is also Director of the Research Department in European Studies, FUNCAS (Fundacion de las Caja de Ahorros).

• List of Tables and Figures Foreword by Luis Angel Rojo Preface List of Abbreviations Introduction: Changes in the International Economic Setting PART ONE: COMPARATIVE ANALYSIS Growth and Structural Changes Productivity and its Determinants Activity, Employment and Unemployment Costs, Prices and Competitiveness Public Finances and Fiscal Policy External Sector Nominal and Real Convergence PART TWO: EVALUATION OF THE INTEGRATION PROCESS Trade Relations Direct Investment Flows Migratory Flows The Community Budget and its Functions Unification of Monetary Policy in Europe Epilogue: Prospects and Economic Strategies for the Spain of the Euro Appendix I: Chronology of the European Integration Process Appendix II: Methodological Problems of International Comparisons Index

CARMELA MARTIN is Jean Monnet Professor of European Economic Integration and Professor in Applied Economics in the Universidad Complutense de Madrid. She is also Director of the Research Department in European Studies, FUNCAS (Fundacion de las Caja de Ahorros).

• List of Tables and Figures Foreword by Luis Angel Rojo Preface List of Abbreviations Introduction: Changes in the International Economic Setting PART ONE: COMPARATIVE ANALYSIS Growth and Structural Changes Productivity and its Determinants Activity, Employment and Unemployment Costs, Prices and Competitiveness Public Finances and Fiscal Policy External Sector Nominal and Real Convergence PART TWO: EVALUATION OF THE INTEGRATION PROCESS Trade Relations Direct Investment Flows Migratory Flows The Community Budget and its Functions Unification of Monetary Policy in Europe Epilogue: Prospects and Economic Strategies for the Spain of the Euro Appendix I: Chronology of the European Integration Process Appendix II: Methodological Problems of International Comparisons Index

CARMELA MARTIN is Jean Monnet Professor of European Economic Integration and Professor in Applied Economics in the Universidad Complutense de Madrid. She is also Director of the Research Department in European Studies, FUNCAS (Fundacion de las Caja de Ahorros).

• List of Tables and Figures Foreword by Luis Angel Rojo Preface List of Abbreviations Introduction: Changes in the International Economic Setting PART ONE: COMPARATIVE ANALYSIS Growth and Structural Changes Productivity and its Determinants Activity, Employment and Unemployment Costs, Prices and Competitiveness Public Finances and Fiscal Policy External Sector Nominal and Real Convergence PART TWO: EVALUATION OF THE INTEGRATION PROCESS Trade Relations Direct Investment Flows Migratory Flows The Community Budget and its Functions Unification of Monetary Policy in Europe Epilogue: Prospects and Economic Strategies for the Spain of the Euro Appendix I: Chronology of the European Integration Process Appendix II: Methodological Problems of International Comparisons Index