Recently, we attempted to add some perspective to the generally trumpeted real effective exchange rate explanation of Spain's mediocre export performance. We found it lacking and proposed that English language proficiency - as a measure of the degree to which cultures consider the rest of the world worthy of their attention - fit a bit better with the actual facts. Courtesy of INE's report on Spanish industry, released today, we've found another candidate.The graph screen-grabbed and annotated by ourselves shows the share, relative to the EU-27 total, of both industrial production (light blue) and number of companies (dark) for a selection of countries. We're not going to dig further, but the reader may rest assured that dividing one by the other and plotting that against exports per GDP will produce a well-aligned and informative scatter chart.
Then again, the evident preponderance of small, probably family run, businesses in certain countries may be just another example of a regressive 'homieness' inate to some parts of the world.
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2 Comments:
We demand the scatter plot!
Will you take forty acres and a mule, instead?
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