There are three approaches to deal with tax incentives within common markets: permit them, limit them, or harmonize them. Broadly speaking, the United States (U.S.) follows the first approach, the European Union (EU) adopts the second, and the Gulf Cooperation Council (GCC) pursues the third by...

Since the mid-twentieth century, the Portuguese economy converged vis-à-vis with the EU average, due to backwardness advantages. At the same time, the dynamic effects of Foreign Direct Investment allowed for a structural shift in exports towards technology-intensive activities. However, in the...