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Recovery in Greece, Italy, Portugal and Spain is held back in part by structural barriers. Overcoming these requires structural reform and public investment. Given the limited availability of political and financial capital, prioritising reform efforts and spending is important, but difficult....
Persistent link: https://www.econbiz.de/10010293571
Greece, Portugal and Spain face a serious risk of external solvency due to their close to minus 100 percent of GDP net negative international investment positions, which are largely composed of debt. The perceived inability of these countries to rebalance their external positions is a major root...
Persistent link: https://www.econbiz.de/10010293591
La necesidad de modernizar la administración financiera de los estados justifica el hecho de que la contabilidad pública de estar en una permanente transformación. En Portugal la reforma de la contabilidad pública se inicio en 1989, aunque no existen muchos organismos e instituciones que...
Persistent link: https://www.econbiz.de/10010294139
Reputation indexes of employment protection have proven popular constructs in studies of the covariation of labor market institutions and macroeconomic outcomes. Portugal occupies an unenviable rank order in such measures of the stringency of employment protection. We critique this reputation in...
Persistent link: https://www.econbiz.de/10010297630
Persistent link: https://www.econbiz.de/10011295074
Since their accession to the European Union in 1986, both Portugal and Spain have benefited from strong financial support. Both countries have experienced considerable growth in income per capita, converging towards average European levels. However, several studies suggest a high degree of...
Persistent link: https://www.econbiz.de/10011307024
Greece, Ireland, Portugal and Spain were all hit by the economic downturn in the course of the financial crisis and have been struggling with national debt crises and recession. A problem common to all of these countries is the collapse of national demand. Foreign trade might seem a logical way...
Persistent link: https://www.econbiz.de/10011418794
The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and optimality in comparison with a reference group of the...
Persistent link: https://www.econbiz.de/10010332956
This paper examines the link between socio-economic development and fiscal policy. We introduce an indicator for socio-economic development (SEDI) and investigate its relationship with different fiscal variables, using data for the cohesion countries, namely Greece, Portugal, Spain and Ireland...
Persistent link: https://www.econbiz.de/10011604513
This paper documents producer price setting in 6 countries of the euro area: Germany, France, Italy, Spain, Belgium and Portugal. It collects evidence from available studies on each of those countries and also provides new evidence. These studies use monthly producer price data. The following...
Persistent link: https://www.econbiz.de/10011604773