Jordi
Gual

Professor of Economics

• Ph.D. in Economics, University of California-Berkeley
• Doctor of Economic and Business Science, Universitat de Barcelona

Professor of Economics at IESE Business School. He holds a PhD in Economics (1987) from the University of California at Berkeley.

Jordi Gual is a member of the Board of Directors of Telefônica Brasil and of the Advisory Board of Telefónica España. He is also Board Adviser of Oxera Consulting LLP and a member of its Governing Board. He serves on the board of the CEDE Foundation and is a Research Fellow at the Centre for Economic Policy Research (CEPR), a SUERF Fellow and a member of the Advisory Board of Instituto Español de Analistas.

Between 2016 and 2021, he served as Chairman of CaixaBank. Prior to this appointment, he was Chief Economist and Head of Strategic Planning and Research of CaixaBank and Director-General of Planning and Strategic Development of CriteriaCaixa between 2005 and 2016. He was non-executive Chairman of VidaCaixa between 2021 and 2025 and has served in the Board of Directors of Telefónica, Erste Group Bank and Repsol. He has also been Vice Chairman of Círculo de Economía and Chairman of FEDEA. In the 1990s, he served as an Economic Advisor for the European Commission’s Directorate-General for Economic and Financial Affairs in Brussels. He has also been a visiting professor at the University of California, Berkeley, the Université Libre de Bruxelles and the Barcelona Graduate School of Economics.

His work on banking, European integration, regulation and competition policy has been widely published. He is a regular contributor to leading newspapers. His latest book, Confiar no tiene precio. La confianza en el capitalismo y las políticas públicas. “Trust is priceless. Trust in capitalism and public policies”, (Penguin, 2024), has received the IESE Alumni Association award.

He was awarded the Research Prize from the European Investment Bank and the Extraordinary Award for his degree in Economics and Business. He has also been a Fulbright Scholar.

Areas of interest.

• Industrial organization (telecommunications, banking, digital markets)
• Regulation and competition policy
• European integration
• Macroeconomics and Finance

Publications

Journal Articles (refereed)

MAS, N., GUAL, J. (2011). Industry Characteristics and Anti-Competitive Behavior. Evidence from the European Commission's Decisions. Review of Industrial Organization, 39 (3), 207 - 230. doi:10.1007/s11151-011-9290-z. GUAL, J., TRILLAS, F. (2006). Telecommunications policies: Measurement and determinants. Review of Network Economics, 5 (2), 249 - 272. GUAL, J. (2003). Regulatory change in network industries: The Spanish experience. Journal of Network Industries, 4 (1), 60 - 81.

Working Papers

GUAL, J., MAS, N. (2010). European Commission decisions on anti-competitive behavior (DI-846-E). GUAL, J. (2007). Time to rethink merger policy? (DI-694-E). GUAL, J., MAS, N. (2007). Industry characteristics and anti-competitive behavior: Evidence from the EU (DI-687-E).

Books

GUAL, J. (2024). Confiar no tiene precio. La confianza en el capitalismo y las políticas públicas. Madrid: Debate. GUAL, J., TORRENS, L. (2004). La indústria catalana davant l'ampliació europea. Barcelona: Generalitat de Catalunya. Departament de Treball i Industria. GUAL, J. (2003). Building a dynamic Europe. The key policy debates. Cambridge: Cambridge University Press.

Edited books

ARGANDOÑA, A., GUAL, J. (2003). The social dimensions of employment. Institutional reforms in labour markets. Aldershot, UK: Edward Elgar. GUAL, J. (2001). Empleo y nuevas tecnologías. Cómo las nuevas tecnologías transforman el mundo del trabajo. Barcelona: Estudios y Ediciones IESE. GUAL, J., RICART, J. E. (2001). Strategy, organization and the changing nature of work. Cheltenham: Edward Elgar Publishing.

Book Chapters

JÓDAR, S., GUAL, J. (2014). La prociclicidad del sistema financiero tras las reformas. En Alberto Placencia Porrero (Director) (Ed.), Nuevos desafíos del sector financiero: recuperando la confianza y mejorando la cultura financiera (pp. 65 - 84). Madrid: Fundación de Estudios Financieros. GUAL, J. (2005). Instituciones para la defensa de la competencia en España: Organización, medios y eficiencia. En Santiago Martínez-Lage, Amadeo Petitbó Juan (Eds.), La modernización del derecho de la competencia en España y la Unión Europea (pp. 367 - 378). Madrid: Fundación Rafael del Pino : Marcial Pons, ediciones Jurídicas y Sociales, S.A. GUAL, J. (2004). ¿Puede Europa competir con el gigante americano? La importancia del mercado interior. En Antonio Argandoña, Manuel Balmaseda, Isla Carbajo, [et. al] (Eds.), Europa-Estados Unidos: flexibilidad, crecimiento y bienestar (pp. 137 - 152). Madrid: Círculo de Empresarios.

Non-refereed articles

GUAL, J., IESE INSIGHT (2024). A tiempo para recuperar la confianza en el capitalismo. IESE Business School Insight (167), pp. 70-75. GUAL, J., IESE INSIGHT (2024). Restoring trust in capitalism. IESE Business School Insight (167), pp. 70-75. IESE INSIGHT (2022). ¿Hasta dónde subirán los tipos de interés? IESEconomics.

Studies

GUAL, J., TORRENS, L. (2005). La competitivitat de la industria catalana. TORRENS, L., GUAL, J. (2005). El riesgo de deslocalización industrial en España ante la ampliación de la Unión Europea.

Cases

STROUMINA, M., GUAL, J. (2005). Bulgaria: On the Road to EU Membership. IESE, ECON-416-E. LÓPEZ, A., GUAL, J. (2004). Ireland: The Celtic Tiger. IESE, ECON-415-E. LÓPEZ, A., GUAL, J. (2004). Irlanda: El Tigre Europeo. IESE, ECON-415.

Technical Notes

GUAL, J. (1999). Principales bases de datos y fuentes de información macroeconómica disponibles en internet. IESE, ASEN-218. GUAL, J. (1999). Macroeconomic analysis and data on tne internet. IESE, ASEN-218-E. GUAL, J. (1998). La oferta agregada y el mercado de trabajo. IESE, ASEN-203.

Outputs in other media

GUAL, J. (2024). EL VIEJO, EL MAR Y EL ESFUERZO. Dinero. GUAL, J., MAS, N. (2022). Ukraine, energy prices and labor reform: three key economic issues for Spain in 2022. IESEconomics. GUAL, J., MAS, N. (2022). Ucrania, el precio de la energía y la reforma laboral, tres cuestiones que marcan el inicio de 2022. IESEconomics.