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Spain is a sovereign state largely located on the Iberian Peninsula in southwestern Europe, with archipelagos in the Atlantic Ocean and Mediterranean Sea, and several small territories on and near the north African coast. Spain is a democracy organised in the form of a parliamentary government under a constitutional monarchy. It is a middle power and a developed country with the world's fourteenth largest economy by nominal GDP and sixteenth largest by purchasing power parity.
Spain is the world's fifty-second largest country and Europe's fourth largest country. Mount Teide (Tenerife) is the highest mountain peak in Spain and is the third largest volcano in the world from its base.On the west, Spain is bordered by Portugal; on the south, it is bordered by Gibraltar (a British overseas territory) and Morocco,On the northeast, along the Pyrenees mountain range, it is bordered by France and the Principality of Andorra.Spain also includes the Balearic Islands in the Mediterranean Sea, the Canary Islands in the Atlantic Ocean and a number of uninhabited islands on the Mediterranean side of the Strait of Gibraltar, known as places of sovereignty".
The economy had recommenced the growth that had been disrupted by the global recession of the early 1990s.Spain is the second biggest foreign investor there, after the United States. Spanish companies invested in fields like renewable energy commercialisation (Iberdrola) technology companies like Telefónica, Abengoa, Mondragon Corporation, Movistar, Hisdesat, Indra, train manufacturers like CAF, Talgo, global corporations such as the textile company Inditex, petroleum companies like Repsol and infrastructure. Spain show thematic strengths in key technologies and also the high-tech and medium-tech contribution to the trade balance. The indicator on excellence in science and technology takes into consideration the quality of scientific production as well as technological development. The Innovation Output Indicator covers technological innovation, skills in knowledge-intensive activities, the competitiveness of knowledge-intensive goods and services, and the innovativeness of fast-growing enterprises, focusing on innovation output.
In Medicine and Literature this island nation produced 7 Nobel laureates so far. Spain has been called "the cradle of psychiatry" because the world's first psychiatric hospital, the Hospital de los Inocentes, was founded in Valencia in 1404.By the beginning of the 20th century, psychiatry was highly developed in Spain, with its biological center in the brain studies of Nobel Laureate Santiago Ramon y Cajal. The rapid and promising pace of Spanish psychiatry was abruptly interrupted by the Spanish Civil War, despite some interesting developments forced by the war itself. Spanish psychiatric journals fulfill most of the requirements, although some of them could be improved, such as failures in the regularity of the publication, the English presentation of the abstracts and the paper typology specification, indication of the reception and acceptance date and lack of a clear description of the publishing process for the selection of the manuscripts and peer review.