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The aim of this paper is twofold: in first place we want to ascertain if there is any difference in the convergence process between the 'Littoral' (coastal) and the 'Interior' (inland) areas in Portugal in terms of per capita income. In second place, we examine the relevance of Structural Funds...
Persistent link: https://www.econbiz.de/10005524078
The aim of this paper is to explain growth performance in Portugal in the last decades (1965-2006) through a multi-equation system with cumulative growth characteristics. The model uses a demand-orientated approach to determine the main relationships, which explain growth through a virtuous...
Persistent link: https://www.econbiz.de/10011094352
Thirlwall's law (Thirlwall 1979) considers that growth can be constrained by the balance of payments when the current account is in permanent deficit. The law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances (budget deficits or...
Persistent link: https://www.econbiz.de/10010732212
Recently, Soukiazis E., Cerqueira P., and Antunes M. (2013) developed a model – hereafter the SCA model - that takes into account both internal and external imbalances and where relative prices are not neutral in the pace economic growth. The SCA model can be considered as an extension of the...
Persistent link: https://www.econbiz.de/10010772947
Thirlwall's Law (Thirlwall, 1979) considers that growth can be constrained by the balance-of-payments when the current account is in permanent deficit. The law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances emerging from budget...
Persistent link: https://www.econbiz.de/10010781998
The present study aims to verify whether the balance-of-payments constrained growth approach is suitable for explaining the Portuguese growth performance during the last decades. For that, we adopt “Thirlwall’s Law” that predicts actual growth by the ratio of the...
Persistent link: https://www.econbiz.de/10011150931
Thirlwall’s Law (Thirlwall 1979) considers that growth can be constrained by the balance-of-payments when the current account is in permanent deficit. The Law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances (budget deficits or...
Persistent link: https://www.econbiz.de/10010834020
The present study aims to verify whether the balance-of-payments-constrained growth approach is suitable for explaining the Portuguese growth performance during the past decades. To smooth cyclical variations, 15-year overlapping periods are considered in the computation of "Thirlwall's law,"...
Persistent link: https://www.econbiz.de/10010612933
Thirlwall's Law considers that growth can be constrained by the balance-of-payments when the current account is in permanent deficit. The Law focuses on external imbalances as impediments to growth and does not consider the case where internal imbalances (budget deficits or public debt) can also...
Persistent link: https://www.econbiz.de/10010573390
Persistent link: https://www.econbiz.de/10010099733