GHES - Artigos em Revistas Internacionais/ Articles in International Journals
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- Readings and translations of Karl Marx in PortugalPublication . Bastien, CarlosThis article presents an original and critical inventory of the most significant surveys, citations, discussions and translations made of Marx's works in Portugal up until the First World War. The paper stresses the academic and political conditions under which Karl Marx's ideas were received in a European semiperipheral society and the specific interpretations that were made of those ideas. It allows for the possibility of undertaking future studies comparing other national cases.
- Reputational recovery under political instability: Public debt in Portugal, 1641–83Publication . Costa, Leonor Freire; Miranda, Susana MünchThis article examines the reputation recovery of Portugal’s public debt during the war of liberation against the former Habsburg ruler. Using novel datasets on long- and short-term debt and nominal interest rates, this study provides evidence that the sovereign borrower used debt credibility to build a pact of regime in a revolutionary context with implications for financing the war. The Portuguese kings followed an implicit budget balance rule as a reputational scheme, which made Portugal an exceptional case of military success with a low debt-to-GDP ratio and low interest rates. These conclusions contribute to the literature in various attributes of war finance, debt management, and state-making by showing that default avoidance could be as important to military success as fiscal capacity.
- Brazilian gold and the Lisbon Mint House (1720-1807)Publication . Sousa, Rita Martins deThe purpose of this article is to present the official registers of the arrival of Brazilian gold in Portugal, the Livros dos Manifestos do 1% do ouro do Brasil, which are part of a documentary database that exists at the Lisbon Mint House. Discussion of this source and the data provided by it can contribute towards a better historiographic understanding of the issues related to precious metals. The intention here is also to make a comparative analysis between the statistical series already available about the flow of gold across the Atlantic to Portugal and the data available about Spain, facilitating comparisons between the production of the official sources for gold and silver in the two countries. Contrary to what happened in the case of the Casa de la Contratación, which lost control over cargoes after 1668, the Portuguese legislation always afforded the Lisbon Mint House a relatively centralizing role in the receipt of gold remittances. The first section of this article describes the institutional framework behind the source of the Livros dos Manifestos, making a comparison with Spain, which did not lose its relative homogeneity in spite of the changes introduced through legislative procedures. In the second section, a comparison is made between this official source and the results provided by other statistical series describing gold flows at that time. The period under scrutiny is that between 1720 and 1807. The beginning of this time scale is explained by the centralization policy introduced in 1720 when a 1% tax first began to be levied on the value of the gold shipped to Lisbon. The Livros dos Manifestos ended in 1807, when gold ceased to be a source of tax revenue for the budgets of the Portuguese state
- Alterações das práticas contabilísticas na Casa da Moeda de Lisboa, no Século XVIIIPublication . Sousa, Rita Martins deNeste artigo explica-se a alteração das práticas contabilísticas na Casa da Moeda de Lisboa enquadrando-as na política de difusão da contabilidade por partidas dobradas na esfera pública, em Portugal, na segunda metade do século XVIII. A necessidade de um maior controlo exercido pelo Estado sobre as suas fontes de receita justificarão as transformações ocorridas, demonstrando estas a adaptação das práticas contabilísticas às características de cada organização. Na Casa da Moeda a especificidade da sua função −cunhar moeda metálica− originou uma decisão legislativa própria, datada de 1773. A periodização destas práticas contabilísticas na Casa da Moeda de Lisboa será arrumada em três fases: a primeira entre 1686 e 1761, a segunda entre 1761 e 1773 e por último de 1773 a 1797, período final deste estudo.
- O ouro cruza o AtlânticoPublication . Costa, Leonor Freire; Rocha, Maria Manuela; Sousa, Rita Martins deAs características do tráfego de ouro sob a forma de pó, barra ou moeda entre o Brasil e Portugal, de 1720 a 1764, são fator determinante para a compreensão das relações econômicas entre Reino e Colônia naquele período. A análise da composição das chegadas permitiu reconhecer um perfil de remessas distinto em função das duas grandes categorias de destinatários: a Coroa e os agentes privados. Dessa forma, constatou-se que o predomínio da moeda nas cargas transportadas se deveu aos fluxos controlados pelos particulares. Em contraste, a Coroa foi o principal responsável pelo ouro enviado em barra e em pó.
- The Portuguese banking system and capital agreements (2005-2011)Publication . Filipe, Margarida; Sousa, Rita Martins deBasel III is set to come into force on 1 January 2014. This capital agreement will include the three pillars enshrined in Basel II and is designed to strengthen regulation and the microprudential supervision of each bank, while also adding the macroprudential dimension (system-wide risks). The purpose of this article is to analyse to what extent banking institutions of Portuguese origin, operating within the national banking sector, have implemented and observed the measures imposed by the Capital Agreements prior to Basel III. Our main results made it possible to identify three different groups of banks as far as the disclosure of information and the application of the risk measurement methods of Basel I and Basel II are concerned. An international comparison also allowed us to conclude that there has been a convergence of Portuguese and Spanish banking institutions in relation to some economic and financial indicators. However, as far as supervision is concerned, Portugal is to be numbered among the countries with more positive results, while Spain displays some weaknesses.
- The monetary system of the Luso-Brazilian Empire: the changing role of the ‘provincial’ : currency in the 17th and 18th centuriesPublication . Sousa, Rita Martins de; Lima, Fernando CerqueiraIn this research we try to explain the dual character of the monetary system of the Luso-Brazilian Empire brought about by the introduction of a parallel, or complementary, currency in Brazil by the end of the XVII century. The simultaneous circulation of ‘provincial’ and ‘national’ coins can explain why these units of exchange did not act as both store and standard of value. Money had not only a hierarchy character according the value of payments (gold, silver and copper) but also the mint policy varied in the different areas of circulation. This implied that not all these coins were hoarded or obtained the same status on international market. Nevertheless, since the 17th century we have an evolution that we need to recognize and understand. This implied that ‘provincial’ money as a concept had an evolution and other attributes to make this money broadly acceptable as units of exchange. Which are the convergence of mechanisms that explain the emergence and consolidation of a money economy in the Portuguese Empire? We will analyse the monetary relations between Brazil and Portugal and the time span is since the 17th century until the 19th century.
- Production, supply and circulation of national gold coins in Brazil (1703-1807)Publication . Lima, Fernando Cerqueira; Sousa, Rita Martins deIn this paper, we assess the production, supply, and circulation of national gold coins in Brazil in the eighteenth century. New estimates have been provided of the volume of production of these gold coins at Mints of Rio de Janeiro, Bahia, and Minas Gerais. Comparing the values of this coinage with remittances to Lisbon, the first half of the eighteenth century reveals a more stable conjuncture than the second half. This latter period shows fluctuations that were expressed in the faster growth of the supply, despite the fall that took place in the production-coinage of gold. Our conclusions question the historiographical theses about the shortage of currency in Brazil throughout the Eighteenth Century. The growth of the economy from the last quarter of the Century onwards implied an increase in the demand for money, which may explain the increase in the supply of national gold coins.
- 'National champions' rhetoric in european law : Or the many faces of protectionismPublication . Soares, António GouchaThe article aims to debate the issue of national champions regarding merger operations with a Community dimension. It starts with a brief overview of the legal framework for merger review in European Union law, as well as a reference to the division of competences between the Union and the Member States in this field. Then, it analyses the scope of Member State action regarding merger operations with a Community dimension, namely the clause to protect national legitimate interests. After some illustrations of recent cases concerning Member States’ defence of national champions, the article devotes the last part to a reflection of two related issues: the concept of industrial policy and the new challenges raised by sovereign wealth funds-
- The European Union Protection of Human RightsPublication . Soares, António GouchaThe problem of fundamental rights in European construction should be situated in this particular historical and political context. As long as the European project progressed with strictly economic objectives, there were no references whatsoever to the subject of fundamental rights in the Constitutive Treaties of the European Communities. Although human rights protection had assumed an essential dimension in the European legal order in the period after the Second World War, in the different European States and the international level of Constitutional law in the different European States and at international level via approval of the European Convention on Human Rights in 1950, the specific nature of the community integration process meant that it had not been the object of the precepts on fundamental rights. The lack of a catalogue of human rights in the constitutive legal acts of the European communities and the total absence of the Treaty provisions on the supervision of those rights in the context of the application of Community law begged the question of knowing just what protection citizens would have before Community normative acts that potentially infringed on their rights, and before actions taken by Community institutions that offended the fundamental rights of persons.