Publication
The portuguese economy in the light of irish experience : A comparison of the 1990 years
| dc.contributor.author | Silva, Joaquim Ramos | |
| dc.date.accessioned | 2010-09-30T14:55:07Z | |
| dc.date.available | 2010-09-30T14:55:07Z | |
| dc.date.issued | 1999-12 | |
| dc.description.abstract | The performance of the Irish economy throughout the nineties, particularly the remarkable catching up of EU level, has been largely acclaimed in terms of the feat of the "Celtic tiger". At the same time, the Portuguese economy is also credited of some achievements, it qualified to EMU from its inception,1 and it is behaving more similarly to the other European economies (in relation to most of the 70's and 80's years). For instance, its intra-industry trade has approached European levels2 and it is now significantly exporting capitals. However, if we look not only globally at the decade, but also at the trend of its late years, and we make the appropriate comparisons, it becomes clear that, in contrast with Ireland, Portugal has one of the least performing economies amongst the "cohesion countries". In fact, during 1995-1999, it had, in relative terms, the most significant reduction of the pace of real convergence, even if it still remained slightly positive. It is no surprise that in a note issued in October 1999, by the IMF, it was pointed out that "the key economic challenge was to secure continued, and preferably even more rapid, real economic convergence with other EU economies". In addition, one year later, the central bank even forecast that the Portuguese economy would not converge with EU in 2000-1. In this paper, we sustain that the unfavorable turn in the Portuguese economy’s EU convergence in the late nineties, is not a mere reflection of the economic cycle but it is tied with deeper causes, particularly related to insufficient openness, and to confusing and inert views on specialization and competitiveness matters. During most of the nineties, Portugal has thus slowed down the pace of convergence to EU level, particularly in the late years. This move puts a set of problems that we cannot dodge. Very likely, this is the result of policies and strategies adopted (or not!) throughout the decade. So far that are no clear and appropriate decisions taken on central issues for a sustainable upgrading of Portuguese economy. After trying to explain its difference in relation to Irish economic performance, we want to raise some more points in the final part of this paper. | |
| dc.identifier.citation | Silva, Joaquim Ramos. 1999. "The portuguese economy in the light of irish experience : A comparison of the 1990 years". Comunicação apresentada à 3rd International Conference on European Economics, Instituto Superior de Economia e Gestão - CEDIN, Lisboa. 1999. | por |
| dc.identifier.uri | http://hdl.handle.net/10400.5/2312 | |
| dc.language.iso | eng | por |
| dc.publisher | ISEG - CEDIN | por |
| dc.subject | Portuguese Economy | |
| dc.subject | Foreign Direct Investment (FDI) | |
| dc.subject | Intra-Industry | |
| dc.subject | Competitivenss | |
| dc.subject | European Economies | |
| dc.subject | Economic Monetary Union (EMU) | |
| dc.subject | Economic Convergence | |
| dc.subject | Iris Experience | |
| dc.subject | Economic Growth | |
| dc.title | The portuguese economy in the light of irish experience : A comparison of the 1990 years | por |
| dc.type | conference object | |
| dspace.entity.type | Publication | |
| oaire.citation.conferencePlace | Lisboa | por |
| oaire.citation.title | 3rd International Conference on European Economics | por |
| rcaap.rights | openAccess | por |
| rcaap.type | conferenceObject | por |