The Economy of Catalonia

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citizens tend to join the labour market and the high unemployment rates we are undergoing at present. All these factors highlight the need for a thorough overhaul of the pensions system. In this context, Catalonia, as a new State, will have to analyse the long-term sustainability of our system and look for solutions to the problem. Bibliographical references Bosch, N. (2013) «Anàlisi econòmica del procés d’independència de Catalunya», Fundació Josep Irla, Barcelona. Departament d’Economia i Coneixement (2012) «Informe sobre les aportacions de Catalunya a la Seguretat Social», mimeograph. Generalitat de Catalunya, Barcelona. 180 The Economy of Catalonia
10 Independence and boycott Xavier Cuadras Morató and Modest Guinjoan (Translated by Jana Graham) Introduction The independence of a country (Catalonia for example) is a project of eminently political nature which can only be suitably evaluated by applying political criteria. Considered in this light, the only thing that really matters is that the largest possible majority of Catalans should decide democratically whether it is preferable to build their own political project or to keep forming part of the political project they currently share with the Spanish. In our opinion, this should be the central point of the debate on this issue. Nevertheless, economists have too often played the main role in discussions about independence. It seems that the principal area of controversy between those in favour and those against the secession process hinges, in our view wrongly, on the economic consequences of the creation of an independent Catalan State, on the size of the “independence dividend” which would come from no longer having to transfer funds every year from the Catalan economy to Spain (the so called fiscal deficit) or the consequences that a declaration of independence would possibly have on the economic relations that Catalan businesses maintain with the rest of the world. These aspects of a hypothetical independence and many others 181
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The Economy of Catalonia Questions
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Oriol Amat, Núria Bosch, Antoni Ca
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Contents Preface to the English Edi
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Preface to the English edition This
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Preface (Translated by Jordi Vilano
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Introduction (Translated by Jordi V
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1 The position of an independent Ca
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United States such as Massachusetts
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2010, Catalonia was in 64th place o
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fact, this combination of factors a
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ilar population to Catalonia and sh
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ence in emerging markets, especiall
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fact, the high proportion of multin
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egion in volume of inward investmen
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mega-regions towards sustainability
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also be confronted with the paradox
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the reasons that are emerging for a
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This 47.1% signifies a considerable
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2005 2006 2007 2008 2009 2010 Estim
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and there would be no need for cuts
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centage of freight between Spain an
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to prevent Spain’s point-blank re
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) The effects on markets, especiall
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speak of the coefficient of central
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Bibliographical references Amat, O.
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Rodríguez Mora, J. V. (2012) «Por
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For the purposes of economic analys
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It should also be recalled that the
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The reasons for regional economic i
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their mind» about European integra
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the Copenhagen criteria, which esta
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in the European Economic Area, whic
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ing the status of member of the Uni
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3.2. In or out of the European Unio
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were to veto the request, experts e
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In November 2012, Granell expressed
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-The regulatory fragmentation that
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would have to find alternative solu
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economic shocks, any one of which,
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In my opinion, an impartial reading
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4 In or out of the euro 4.1. An ind
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Analysis of possible scenarios Scen
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official currency and financial ins
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nisms and the European interbank pa
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arising from the integration of a h
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4.2. In or out ofthe euro: certaint
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prevent or limit damage to the mult
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Let me make a short comment on the
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context of a Spain that leaves the
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Col·lectiu Wilson (2012) «Europe,
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termediation, which is performed by
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The Catalan financial system The Ca
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Financial institutions with headqua
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• The bank was put up for auction
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had risen by 16.3%, staff had been
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go to Brussels and say that they ha
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Appendix This article is complement
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The Catalan Public Sector in the Eu
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20% 18% 18.8% 16% 16.2% 15.5% 13.6%
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9% 8% 7.9% 7% 6.5% 6.4% 6.2% 5.8% 5
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It is very obvious that Madrid has
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Spain Catalonia Generalitat Variati
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- Armed Forces: in the form of army
Page 132 and 133: Pérez, F. (DIR), Cucarella, V. and
Page 134 and 135: and to the private sector. Another
Page 136 and 137: 2006 2007 2008 2009 Direct taxes 17
Page 138 and 139: method, that is to say, the expense
Page 140 and 141: itory. The same applies to the prog
Page 142 and 143: 2006 2007 2008 2009 Spanish State e
Page 144 and 145: e obtained. Table 3 shows that the
Page 146 and 147: with the EU in the period 2007-2013
Page 149 and 150: 8 Debt and distribution of assets 2
Page 151 and 152: this study. The difference between
Page 153 and 154: the State’s property and debts on
Page 155 and 156: It may be asked whether the new Cat
Page 157 and 158: The main source of International La
Page 159 and 160: Principles of distribution of asset
Page 161 and 162: Immovable property of the State con
Page 163 and 164: Social Security Reserve Fund On con
Page 165 and 166: Investments according to Additional
Page 167 and 168: Forecasts Million euros 2007 2008 2
Page 169 and 170: Possible negotiation scenarios What
Page 171 and 172: Even if it were only possible to ev
Page 173 and 174: States that form part of 21st-centu
Page 175: Spanish Royal Decree 496/1987, of 1
Page 178 and 179: Social Security contributions, pens
Page 180 and 181: ury and its managing agencies (auto
Page 184 and 185: in the economic, social and cultura
Page 186 and 187: declaration of independence, the bo
Page 188 and 189: oycott would have a more pronounced
Page 190 and 191: the will of the people. The great m
Page 192 and 193: Guinjoan, M. and Cuadras, X. (2011)
Page 194 and 195: Denmark, Finland, Austria, the Neth
Page 196 and 197: 2012 Company Sector Sales (€m) 1
Page 198 and 199: Export companies There were 43,176
Page 200 and 201: Spain, and appreciably more than th
Page 202 and 203: Conclusions After considering how c
Page 204 and 205: likely to be in the firing line are
Page 206 and 207: IDESCAT (2013), based on data from
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Page 210 and 211: No opinion Increase the centralisat
Page 212 and 213: sioners, business people and/or the
Page 214 and 215: Impact on the Catalan economy In th
Page 216 and 217: alternative. This is not supported
Page 218 and 219: More specifically, 94.6% of pension
Page 220 and 221: 37.8% 57.8% 4.4% Yes No opinion No
Page 222 and 223: fessionally and 47.8% believe it wo
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Page 227 and 228: having less potential and less per
Page 229 and 230: Catalonia had been an independent S
Page 231: ands and a declining proportion of
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Anton Gasol. Doctor of Economics, f
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The Economy of Catalonia

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