The ineffectiveness of real devaluation as stabilization policy does not imply that the nominal exchange rate should be held constant in the face of a domestic inflation. In this circumstance, import duties and export subsidies would have to be escalated to counter the potential erosion of the...

Portuguese Abstract: António Manuel Pinto Barbosa (1917-2006), incluído entre os “Cem portugueses que moldaram o século XX” no Expresso Revista foi biografado por João César das Neves e Francisco Azevedo e Silva num livro publicado em 1999, cujo capítulo 7 o intitula “Decano dos...

The so-called “accession economies” preparing to enter the European Union are experiencing increased inward capital flows based upon positive interest spreads and expectations of currency appreciation. While the authorities of these countries have tried to manage these flows and to prevent...

Globalisation, governance and economic performance affect each other in very complex mutual relationships. In this paper, we establish a clear and well-circumscribed hypothesis: “is there an effect of globalisation on governance?” To test this hypothesis or, even more specifically, to test...