This paper studies the factors that determine the financial literacy level of the Portuguese individual investors and explores the relation between financial literacy and financial behavior, particularly portfolio diversification. Our results suggest that the average financial literacy level of...

Empirical evidence on productivity spillovers - a concept that embodies the fact that foreign enterprises own intangible assets which can be transmitted to domestic firms, thus raising their productivity level - is ambiguous. With a panel data set at the firm level for the Portuguese...

This paper analyses productivity growth and the nature of techni- cal change in a sample of Portuguese hydroelectric generating plants over the period 2001 to 2004. In a ¯rst step, we employ the Luen- berger productivity indicator to estimate and decompose productivity change. The results paint...

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...

This article presents an evaluation of the economic adjustment program negotiated between the Portuguese government and the Troika (European Commission, ECB and IMF) in May 2011, with an assessment different from the usual exercises. Instead of an ex-post comparison between the actual results...