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Economy

Economy

Image of a conference at BBVA Foundation about values and climate change

Technological capital, human capital, regulatory capital and social capital… all are dimensions that the science of economics measures and includes in its analyses. Cultural capital is not a common concept in this science, however. But Timothy Besley, Professor at the London School of Economics (LSE) feels it is fundamental as a conditioning aspect of the economic activity of any organization, institution or country.

BBVA held in March its 6th annual Public Sector Investors and Issuers Seminar bringing together 60 central banks, sovereign borrowers, supranational institutions, and national agencies for 3-days of discussions on a broad range of investment themes.

Some of the key themes discussed were the impact of unconventional monetary policies on public sector issuers and investors, the challenges facing reserve managers in times of negative interest rates, and the debt management strategies of public sector issuers. The following are four of the most interesting issued discussed.

After the chemical weapons attack on Syrian civilian population, the US launched its first military strike against the Assad regime sending a clearer message to Syria and North Korea. However, it is still early to know whether this is a tactical message or part of a broader strategy. Europe and Asia kept with low conflict levels, while in North Africa, instability rose.

For more information, please visit BBVA Research’s website

The Chairman of the Spanish National Securities Market Commission (CNMV) has completed a round of meetings in the City of London to explain the measures adopted to facilitate the arrival of international firms to Spain. Also, the supervisory body of the Spanish financial markets recently announced four strategic lines for the next two years. The plan is aimed at yielding a more efficient, transparent, responsive and modern supervisor, a more attractive and appealing Spanish market, and better informed, educated and protected investors.