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Lessons from the Portuguese Political-Economic Transition to the Euro (1986-1999)

Author

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  • Miguel Rocha de Sousa

    (Department of Economics, University of Évora; NICPRI-UE)

Abstract

We show the Portuguese transition to the euro, in the framework of political economics, by constructing a bivariate confidence index, based upon Rocha de Sousa (1998, 1999a,b, 2001). Besides we try to understand if the euro functioned as an instrument of politico-economic integration. The article has the following structure: section 1 shows the process of monetary European construction, section two illustrates the need for budget consolidation before the euro, section three illustrates the notion of monetary credibility and the construction of a bivariate politico-economic index, section four illustrates the role of ECB and of the SECB, section 5 assesses the study of euro impact on Portugal and, section 6 evaluates EMU after 10 years based upon EC (2008) and, finnally, section 7 concludes.

Suggested Citation

  • Miguel Rocha de Sousa, 2009. "Lessons from the Portuguese Political-Economic Transition to the Euro (1986-1999)," Economics Working Papers 11_2009, University of Évora, Department of Economics (Portugal).
    • Handle: RePEc:evo:wpecon:11_2009
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    References listed on IDEAS

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    Keywords

    Credibility; Euro; Europe; ECB; European Integration; EMU; Pair Minister of Finance / Governor; Portugal;
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