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A model of the Keynesian theory for Portugal. Another approach

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  • Martinho, Vítor João Pereira Domingues

Abstract

With this work we try to present an alternative model for Portugal based on the Keynesian theory. We built the model testing the validity of the well known “Verdoorn´s Law” which considers the relationship between the growth of productivity and output in the case of the Portuguese economy at a regional and sectoral levels (NUTs II) for the period 1995-1999. The importance of some additional variables in the original specification of Verdoorn´s Law is also tested, such as, trade flows, capital accumulation and labour concentration.

Suggested Citation

  • Martinho, Vítor João Pereira Domingues, 2011. "A model of the Keynesian theory for Portugal. Another approach," MPRA Paper 33629, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:33629
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    References listed on IDEAS

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    More about this item

    Keywords

    Keynesian theory; linear models; Portuguese regions;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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