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Y si bien la restructuración de los sectores productivos a la que ha obligado la crisis, con pérdidas de peso, tanto en términos de producción como en términos de empleo de los sectores intensivos en mano de obra de baja cualificación, han ayudado a recuperar parte de la competitividad, lo cierto es que el aumento de la productividad, aunque es un factor importante que puede mantener la competitividad en el largo plazo, es sólo uno de los factores capaces de explicar esa mejora, especialmente si tenemos en cuenta que ésta ha sido lenta.
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As we argued in the previous instalment, inadequate investment in productive capital, technological backwardness and the limited organisational changes that have characterised the Spanish economy, as a result of our productive specialisation, have marked its delay in productivity and losses in competitiveness. And while the restructuring of the productive sectors as a consequence of the crisis, with weight losses both in terms of production and in terms of low-skilled labour intensive sectors, have helped to recover part of competitiveness, the fact is that increased productivity, while an important factor that can help to remain competitive in the long run, is just one of the factors that can explain this improvement, especially when you consider that it has been slow. So we must ask what other facts have taken place in the Spanish economy in order for competitiveness to improve the way it has.
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