In this study we look at whether the seven Portuguese NUTS II regions have been able to share equally in the country’s overall growth or whether there have been asymmetries and divergences in their growth patterns. We assess the regional impact of a wide range of Portuguese domestic policies...

In this article, we argue that the EMS experience, of introducing elements of flexibility, so as to overcome the initial rigidity, without deviating from the fundamental aim, may provide a relevant model for the revision of the Stability and Growth Pact (SGP). Although the specific limits being...

Neste artigo, procuramos descrever a evolução do stock de capital físico em Portugal ao longo do Século XX, tendo em conta alguns dos seus determinantes, nomeadamente, a envolvente económica e institucional, a propensão a poupar e os preços relativos. Os cálculos efectuados revelam...

In this paper, we analyse the relationship between money and inflation in a small open economy where domestic and foreign currencies are perfect substitutes as means of payment. It is shown that, if the path of domestic money supply is such that individuals find it optimal to change the currency...

This paper addresses the question whether the process of European monetary integration implies efficiency-legitimacy trade-off. The paper considers that the process of monetary policy delegation to the European Central Bank (ECB), ratified by all European Union (EU) parliaments, was a...

In order to ensure that the internal market delivers (growth, jobs) in the face of a changing market and technological environment (internal market liberalisation, globalisation, the knowledge-based economy) and to take advantage of the opportunities that it presents, the European Union (EU)...