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Portugal: Selected Issues

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  • International Monetary Fund

Abstract

A range of indicators point to a competitiveness gap of 10–20 percent with respect to euro area competitors. Closing the competitiveness gap will require an extended adjustment period, even with a jump in total factor productivity (TFP) growth and strong wage moderation. This paper reviews several factors that could help explain the boom and bust behavior of corporate investment. Investor sentiment will recover with the deepening of structural reforms, but high corporate debt level is likely to slow the pace of investment growth in the near future.

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  • International Monetary Fund, 2006. "Portugal: Selected Issues," IMF Staff Country Reports 2006/386, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2006/386
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    References listed on IDEAS

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    1. Perron, Pierre, 1990. "Testing for a Unit Root in a Time Series with a Changing Mean," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(2), pages 153-162, April.
    2. Ms. Zuzana Murgasova, 2005. "Post-Transition Investment Behavior in Poland: A Sectoral Panel Analysis," IMF Working Papers 2005/184, International Monetary Fund.
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