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Asymmetric regional dynamics in the Portuguese economy: debt, openness and local revenues

Author

Listed:
  • Fernando Alexandre
  • Hélder Costa
  • Miguel Portela
  • Miguel Rodrigues

Abstract

Regional convergence stands out in the adjustment of the Portuguese economy that followed the international financial crisis. This outcome contrasts with increasing regional inequality in other European countries. We investigate the role of regional indebtedness, openness to trade and local fiscal autonomy in regions’ economic performance. Using a novel database, we contribute to a better understanding of the linkages between macroeconomic imbalances and regional economic dynamics. Our estimates suggest that regions’ indebtedness had a negative impact on economic growth. On the other hand, openness to trade and fiscal decentralization had a positive impact on economic growth.

Suggested Citation

  • Fernando Alexandre & Hélder Costa & Miguel Portela & Miguel Rodrigues, 2021. "Asymmetric regional dynamics in the Portuguese economy: debt, openness and local revenues," Regional Studies, Taylor & Francis Journals, vol. 55(2), pages 322-332, February.
    • Handle: RePEc:taf:regstd:v:55:y:2021:i:2:p:322-332
    DOI: 10.1080/00343404.2020.1802004
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    Cited by:

    1. Rosa Forte & Ana Medeiros, 2024. "Agglomeration economies and firm’s export intensity: evidence from Portuguese manufacturing SMEs," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 51(3), pages 807-828, August.
    2. Elias A. Udeaja & Nathan Audu, 2023. "Asymmetric Effect of External Debt and Foreign Capital Flows on Economic Growth: New Evidence from Nigeria," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 9(3), pages 345-368, July.
    3. Karime Chahuán-Jiménez & Rolando Rubilar-Torrealba & Hanns de la Fuente-Mella, 2021. "Market Openness and Its Relationship to Connecting Markets Due to COVID-19," Sustainability, MDPI, vol. 13(19), pages 1-12, October.
    4. Joao Capella-Ramos & Romina Guri, 2022. "Firm adaptation in COVID-19 times: The case of Portuguese exporting firms," GEE Papers 0169, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Sep 2022.

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