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Next Generation EU and industrial transformation: evidence from Spain

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dc.contributor.authorLozano Reina, Gabriel
dc.contributor.authorSánchez Marín, Gregorio
dc.contributor.authorBaixauli Soler, Juan Samuel
dc.contributor.departmentOrganización de Empresas y Finanzas
dc.contributor.otherFacultad de Economía y Empresa
dc.date.accessioned2026-02-06T09:10:23Z
dc.date.available2026-02-06T09:10:23Z
dc.date.copyright© 2026 The Author(s)
dc.date.issued2026-01-06
dc.description.abstractNext Generation EU (NGEU) funds represent a large-scale public investment aimed at mitigating the economic impact of COVID-19 and advancing industrial modernization across the European Union. This study analyzes their early effects in Spain through three objectives: (i) to provide an integrated overview of the design and industrial orientation of the Spain Can Plan, including the role of Industrial Policy Spain 2030 and PERTEs as mission-oriented instruments; (ii) to examine the macro-level implementation of NGEU funds across strategic policy levers, beneficiaries, and regions; and (iii) to assess how sectoral patterns and firm-level characteristics shape the absorption of support. Evidence from the ELISA and SABI databases shows pronounced territorial and sectoral asymmetries, with energy-related and capital-intensive activities receiving a high share of resources. At the firm level, funding allocation is closely linked to pre-existing structural capabilities, whilst post-COVID financial indicators point to improvements in profitability, productivity, and financial stability. The study concludes with policy recommendations to strengthen Spain’s industrial modernization and its strategic positioning in the global economy.
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dc.identifier.citationLozano-Reina, G., Sánchez-Marín, G., & Baixauli-Soler, J. S. (2026). Next Generation EU and industrial transformation: Evidence from Spain. Structural Change and Economic Dynamics, 77, April 2026, 123-136. https://doi.org/10.1016/j.strueco.2026.01.002
dc.identifier.doihttps://doi.org/10.1016/j.strueco.2026.01.002
dc.identifier.eissn1873-6017
dc.identifier.issn0954-349X
dc.identifier.urihttp://hdl.handle.net/10201/200669
dc.languageeng
dc.publisherElsevier
dc.relationThis work was supported by Fundación Cajamurcia and by the Agencia Estatal de Investigación of the Government of Spain (project reference PID2024-159036NA-100).
dc.relation.publisherversionhttps://www.sciencedirect.com/science/article/pii/S0954349X26000019
dc.rightsAttribution-NonCommercial 4.0 International*
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/*
dc.subjectIndustrial policy Spain 2030
dc.subjectSpain Can plan
dc.subjectCOVID-19
dc.subjectStructural transformation
dc.subjectFirm-level analysis
dc.subjectNext Generation EU
dc.subject.odsObjetivo 8: Crecimiento económico
dc.titleNext Generation EU and industrial transformation: evidence from Spain
dc.typeinfo:eu-repo/semantics/article
dc.type.versioninfo:eu-repo/semantics/publishedVersion
dspace.entity.typePublicationes
relation.isAuthorOfPublication37b7a98d-7524-48da-a8fc-0955d79627fd
relation.isAuthorOfPublication5693341b-e88f-4b35-944d-a96a93390d0c
relation.isAuthorOfPublication.latestForDiscovery37b7a98d-7524-48da-a8fc-0955d79627fd
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