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Abstract

In this paper we analyse the development of the economy of the BAC over four decades. During this long period of time there have been three far-reaching economic crises, more than a decade of sustained prosperity, an increase and improvement in welfare and major demographic changes. The current period, with an increase in the rate of unemployment, reductions in the GDP growth rates and declines in the level of prices, calls for well designed actions directed towards a model of growth which, amongst other things, and as priority, provides sufficient and sought after jobs to the working population.