Fitxers

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2022-08-01

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Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/189187

The Economic Costs of a Secessionist Conflict: The Case of Catalonia

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Recurs relacionat

https://doi.org/10.1080/10242694.2021.1873084

Resum

Due to the pro-independence demands of part of its electorate, the political fit of Catalonia within Spain has given rise to notable political tensions over the last few years. This conflict has progressively affected several dimensions of Catalan society, including, potentially, the economy. The illegal referendum on independence, held in October 2017, marked the climax of political and social tensions, leading to a Constitutional crisis and further stoking the conflict as opposed to offering any hope of an early resolution. We analyze a complete set of margins potentially affected by the referendum, including real (aggregate demand and supply) and financial responses. Using a synthetic control method, we find strong evidence of the outflow of short-term bank deposits after the referendum; while, on the real side, we find evidence of responses in aggregate supply (number of capital increases and number of new firms registered).

Matèries

Referèndum de l'1 d'octubre de 2017, Catalunya, Secessió, Economia, Flux de caixa, Incertesa, Control de costos

Matèries (anglès)

Catalan independence referendum, 2017, Secession, Economics, Cash-flow, Uncertainty, Cost control

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Articles publicats en revistes (Economia)

Citació

ESTELLER MORÉ, Alejandro and RIZZO, Leonzio. The Economic Costs of a Secessionist Conflict: The Case of Catalonia. Defence and Peace Economics. 2022. Vol. 33, num. 6, pags. 655-688. ISSN 1024-2694. [consulted: 1 of June of 2026]. Available at: https://hdl.handle.net/2445/189187

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