El Creixement de l'economia de Catalunya: una visió de llarg termini


  • Ernest Reig


The acceptance speech of the 1997 Catalan Economics Prize winner explains the regional methodology used to analyse the growth of Catalonia during the last forty years in his book Capitalisation and Growth of the Catalan Economy 1955-1995. Despite sharp industrial and energy cicles, the growth rate has been the most impressive and beneficial in welfare terms in the whole history of industrial capitalism. A Catalan who started working in 1955 and retired in 1995 would have seen his real income multiply by 2.5 while a Catalan who started working in 1590 and retired in 1930 would only have increased his income only by 0.5 and with a lower life expectancy as well. Income diferentials with industrialised countries are far less today, with 1% pet year higher growth than the European average and income now at 95% of the European Ievel. Value Added has multiplied by five and represents 20% of Spanish output , averaging 4% growth per year, with a more pronounced cycle than Spain as a whole but with income one third higher and net immigr'ation of over one million. Catalonia has gene rated 0.64% net employment per year in contrast to 0.06% in the rest of Spain. Private capital stock has quadrupled, with investment concentrated in high and medium growth industries. Private investment represents 90% of total investment while the historical deficit in public investment continues, four points below the population weight of Catalonia in Spain. The growth prospects, both internally and externally, are very favourable for Catalonia.