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Spain - Between The Catalan Crisis And The Economic Performance

Author

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  • Daniel Bulin

Abstract

During 2017-2018, Spain was characterized by social and political turmoil both in the Catalonia autonomous community (referendum for independence, the position of force adopted by the central authorities from Madrid, early regional parliament elections, Torra cabinet investiture), and at the national level (the fall of the Rajoy government after a censure motion, the appointment of the socialist leader Pedro Sanchez at the head of the Madrid government). Although the effects of the referendum were null, the situation reopened the debates and cost-benefit analyzes of a possible division of Catalonia from Spain, despite a favourable macroeconomic situation of the country, seen as a post-crisis economic recovery model, also called the Eurozone performer in recent years. Starting from these factors, this paper proposes a synthesis of the recent political events in the Iberian country, an analysis of the pros and cons of secession and a brief assessment of its economic outlook.

Suggested Citation

  • Daniel Bulin, 2018. "Spain - Between The Catalan Crisis And The Economic Performance," Euroinfo, Institute for World Economy, Romanian Academy, vol. 2(11-12), pages 59-71, November.
    • Handle: RePEc:iem:eurinf:v:2:y:2018:i:11:p:59-71
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    File URL: http://www.iem.ro/rem/index.php/euroinfo/article/view/674/754
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    More about this item

    Keywords

    Spain; Catalonia; referendum; secession; GDP; public debt; unemployment; inflation;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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