The collective monograph prepared by the staff of the Institute of World Economy and International Relations (IMEMO) with the participation of scholars from the Institute of Latin America of the Russian Academy of Sciences, MGIMO-University and Financial University under the Government of the Russian Federation. The idea for the book was born during the eponymous scientific conference conducted by the Center for European Studies at the IMEMO (October 20, 2017). Most relevant socio-economic and political problems of Spain are investigated in eight chapters of the book. Special attention is paid to the country‘s place in the global economy, including investment expansion of Spanish TNCs, as well as overcoming of separatism in Catalonia, especially in the context of more general issues of post-Franco transformation and the search for national identity of the Kingdom of Spain. The country's efforts to respond to the challenges of innovation development, as well as reaction against external security challenges are also studied in the book.