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Regional Convergence in Portugal in the context of the European Union

Pontes, José Pedro - ISEG - School of Economics and Management, Department … - 2000

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

Desenvolvimento Económico e Mudança Institucional: O Papel do Estado

Estevão, João - ISEG - School of Economics and Management, Department … - 2004

A new Development Economics is being built, combining the return to the heritage of the “old” Structuralism with contributions brought by the renewal of the Institutionalism. This paper begins with a balance of the first development economists’ contributions and insufficiencies and of the...

Persistent link: https://www.econbiz.de/10005761293

Economic development according to Friedrich List

Pires, Armando J. Garcia; Pontes, José Pedro - ISEG - School of Economics and Management, Department … - 2015

In this paper, we develop a Listian model of economic development. The economy consists of a primary sector and a potential industrial sector that can arise via industrialization. Industrialization however depends on if the primary sector specializes on the primary product, which can lead to a...

Persistent link: https://www.econbiz.de/10011194292

Interactions between Monetary Policy and Fiscal Policy

Afonso, António; Balhote, Raquel - ISEG - School of Economics and Management, Department … - 2014

Using a panel data set of 14 EU countries from 1970 to 2012, we study the type of monetary and fiscal policies of both authorities, and assess how they are influenced by certain economic variables and events (the Maastricht Treaty, the Stability and Growth Pact, the Euro and crises). Results...

Persistent link: https://www.econbiz.de/10010934501

The Role of Government Debt in Economic Growth

Afonso, António; Alves, José - ISEG - School of Economics and Management, Department … - 2014

We study the effect of public debt on economic growth for annual and 5-year average growth rates, as well as the existence of non-linearity effects of debt on growth for 14 European countries from 1970 until 2012. We also consider debt-to-GDP ratio interactions with monetary, public finance,...

Persistent link: https://www.econbiz.de/10010934503

Fiscal Volatility, Financial Crises and Growth

Afonso, António; Jalles, João Tovar - ISEG - School of Economics and Management, Department … - 2012

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

Do fiscal rules matter for growth?

Afonso, António; Jalles, João Tovar - ISEG - School of Economics and Management, Department … - 2012

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

Causalilty for the government budget and economic growth

Afonso, António; Jalles, João Tovar - ISEG - School of Economics and Management, Department … - 2014

We use a panel of 155 countries for 1970-2010 to study (two-way) causality between government spending, revenue and growth. Our results suggest the existence of weak evidence supporting causality from expenditures or revenues to GDP per capita and provide evidence supporting Wagner’s Law.

Persistent link: https://www.econbiz.de/10010761900

Fiscal regimes in the EU

Afonso, António; Toffano, Priscilla - ISEG - School of Economics and Management, Department … - 2013

We assess the existence of fiscal regime shifts in the U.K., Germany, and Italy, using Markov switching fiscal rules. On the basis of a newly built quarterly data set, our results show the existence of fiscal regimes shifts, sometimes coupled with regime switches also regarding monetary...

Persistent link: https://www.econbiz.de/10010634165

Should we Care for Structural Breaks When Assessing Fiscal Sustainability?

Afonso, António; Rault, Christophe - ISEG - School of Economics and Management, Department … - 2008

We apply recent panel cointegration methods to a structural equation between government expenditure and revenue. Allowing for multiple endogenous breaks and after computing appropriate bootstrap critical values, we conclude for fiscal sustainability in the overall EU15 panel.

Persistent link: https://www.econbiz.de/10005593048