Showing 1 - 10 of 13
The paper surveys the main trends of per capita income convergence in the European Union. It stresses that income … disparities have ceased to diminish across the European regions since 1980, although convergence between countries has continued … behind income convergence are analized by means of the decomposition of per capita income in labor productivity and …
Persistent link: https://www.econbiz.de/10005463756
Main trends of per capita income convergence in Portugal and the European Union are surveyed. An explanation is given … to the fact that in the last two decades countries have converged, while no visible convergence has taken place among the … distribution of the stock of existing firms in the European Union is fixed, it is assumed that the degree of convergence follows …
Persistent link: https://www.econbiz.de/10005463763
The impact of human and public capital on growth is a major issue in economic theory and in policy evaluation. Using a cointegrated VAR, we estimate a Cobb-Douglas production function for Portugal with public and human capital. Return rates are then computed with and without dynamic feedbacks....
Persistent link: https://www.econbiz.de/10005592992
conditions that guarantee, in the long run, the convergence of the detrended capital across locations and those inducing spatial …
Persistent link: https://www.econbiz.de/10010779580
The aim of this paper is to discuss the process of regional convergence within the framework of an overlapping … education funding systems and compare their performance in terms of growth rates and pace of convergence between two …-off between long run growth rate and short run convergence. In such choice, the initial capital stock and the extent of regional …
Persistent link: https://www.econbiz.de/10004985103
We review the main budgetary measures not accepted by the Portuguese Constitutional Court in the Budget Laws of 2012, 2013 and 2014. Considering the feedback effect of the fiscal impulse, the impact on the budget balance is -0.42% and of -0.34% of GDP respectively for 2013 and for 2014; in both...
Persistent link: https://www.econbiz.de/10011200172
We use a panel of developed and emerging countries for the period 1970-2008 to assess how fiscal policy volatility and financial crises affect growth. We find that economic growth is lower in the presence of more volatile fiscal policy. Moreover, with a financial crisis government spending is...
Persistent link: https://www.econbiz.de/10010533736
We study the relevance of fiscal rules for growth in an EU panel. Our results show that they foster growth, while stricter fiscal rules mitigate the adverse impact on growth from big governments. Moreover, more recent EU member states have gained from the implementation of fiscal rules.
Persistent link: https://www.econbiz.de/10010533737
After entering the EU in 1986, Portugal benefited from low interest rates and some growth momentum. However, the difficulty in taming fiscal imbalances, the pro-cyclicality of fiscal policy, the use of extraordinary fiscal measures, coupled with the 2008-2009 economic and financial crisis led to...
Persistent link: https://www.econbiz.de/10010603548
This paper provides a succinct overview of long-run developments regarding public finances in Portugal with an emphasis on the spending side. Issues addressed are the excessive deficit experiences of Portugal, the past experience with fiscal consolidations, and labour cost competitiveness. It is...
Persistent link: https://www.econbiz.de/10005761286