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From an agrarian society to a knowledge economy: Portugal, 1950-2010
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This paper surveys the main features of Portuguese economic growth in the
last half century, with a particular emphasis on the period after the return to
democracy in 1974. It shows that significant structural change and capital
deepening were the chief sources of growth in the Portuguese economy until
the mid 1970s. From then onwards, human capital accumulation and
productivity growth were the main reasons behind Portugal’s economic
fortunes. Growth declined between these two phases, as in the rest of Europe.
In Portugal, it slowed further after 1990. After surveying the main causes of
the slowdown of the Portuguese economy in the last decade, Portugal’s main
human capital indicators are compared to other European and OECD
economies. While Portugal has made a remarkable transition from an
agrarian society to an industry- and service-based economy, the country still
has not been able to successfully move on to a knowledge-based economy.
Such a transition, however, is instrumental to spur economic growth on and to
improve productivity.
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Citação
Lains, P., Pereira, A. S. (2010). From an agrarian society to a knowledge economy: Portugal, 1950-2010. Working Papers in Economic History, WP 10-09. Madrid: Universidad Carlos III