two "integration episodes", the development of an economic union between Portugal and its African colonies and the … establishment of democratic socialism since then. The paper contrasts the recent economic experience of Portugal with its neighbour … Spain. The view that EC membership is desirable because it ensures Portugal against dictatorship is also examined and …

by focusing on two neighbouring countries: Spain and Portugal. We show that while a rise in cross-country business cycle …

driving this research paper. In particular, the role of factor movements in explaining real wage behavior in Portugal after …