IDEAS home Printed from https://ideas.repec.org/p/unl/unlfep/wp502.html
   My bibliography  Save this paper

A mudan a do regime cambial portugu s: Um balan o 15 anos depois de Maastricht

Author

Listed:
  • Jorge Braga de Macedo

Abstract

A mudan a de regime para a estabilidade e convertibilidade cambiais deve ser enquadrada numa mudan a de regime econ mico e financeiro. A parte monet ria foi feita por press o europeia directa mas n o se pode mudar a constitui o fiscal a partir de fora. Para tal, n o bastam tratados nem pactos com restri es s despesas e receitas p blicas, porque a constitui o fiscal assenta num processo or amental que reflecte o sistema pol tico. A falta de complementaridade entre pol ticas explica que as nossas reformas n o tenham durado o suficiente para que as empresas se sintam parte interessada. O resultado da boleia de juros foi uma procura excessiva de bens e servi os transaccion veis por parte dos residentes, que se manifestou quer na despesa em bens e servi os importados ou export veis. Tendo em conta a baixa classifica o de Portugal em termos de produtividade e tamb m em termos de atractividade para o investor, n o se vai realizar o alto potencial exportador sem alterar os pre os relativos. O balan o 15 anos depois de Maastricht pois de que, sem uma estrat gia sustentada de reformas, o potencial exportador n o se pode realizar. Sem realizar esse potencial, n o se pode restaurar uma diferencialidade portuguesa assente nas perten as e liberdades.

Suggested Citation

  • Jorge Braga de Macedo, 2007. "A mudan a do regime cambial portugu s: Um balan o 15 anos depois de Maastricht," Nova SBE Working Paper Series wp502, Universidade Nova de Lisboa, Nova School of Business and Economics.
    • Handle: RePEc:unl:unlfep:wp502
    as

    Download full text from publisher

    File URL: https://run.unl.pt/bitstream/10362/11673/1/wp502.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. André Sapir, 2006. "Globalization and the Reform of European Social Models," Journal of Common Market Studies, Wiley Blackwell, vol. 44(2), pages 369-390, June.
    2. Hallerberg, Mark & Strauch, Rolf & von Hagen, Jurgen, 2007. "The design of fiscal rules and forms of governance in European Union countries," European Journal of Political Economy, Elsevier, vol. 23(2), pages 338-359, June.
    3. Jorge Braga de Macedo & Luis Catela Nunes & Luis Brites Pereira, 2003. "Central bank intervenyion under target zones: the portuguese escudo in the ERM," Nova SBE Working Paper Series wp435, Universidade Nova de Lisboa, Nova School of Business and Economics.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bruno Amable, 2009. "The Differentiation of Social Demands in Europe. The Social Basis of the European Models of Capitalism," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 91(3), pages 391-426, May.
    2. Tausch, Arno, 2007. "Correctly finger-pointing the Lisbon-process-villains," MPRA Paper 1890, University Library of Munich, Germany.
    3. Marzia Romanelli & Pietro Tommasino & Emilio VadalÃ, 2022. "The future of European fiscal governance: a comprehensive approach," Questioni di Economia e Finanza (Occasional Papers) 691, Bank of Italy, Economic Research and International Relations Area.
    4. Amable, Bruno & Azizi, Karim, 2014. "Counter-cyclical budget policy across varieties of capitalism," Structural Change and Economic Dynamics, Elsevier, vol. 30(C), pages 1-9.
    5. Åsa Johansson, 2016. "Public Finance, Economic Growth and Inequality: A Survey of the Evidence," OECD Economics Department Working Papers 1346, OECD Publishing.
    6. Gupta, Sanjeev & Liu, Estelle X. & Mulas-Granados, Carlos, 2016. "Now or later? The political economy of public investment in democracies," European Journal of Political Economy, Elsevier, vol. 45(C), pages 101-114.
    7. John Thornton & Chrysovalantis Vasilakis, 2018. "Fiscal Rules And Government Borrowing Costs: International Evidence," Economic Inquiry, Western Economic Association International, vol. 56(1), pages 446-459, January.
    8. Pisany Paweł, 2016. "Comparative Models of Capitalism in the Areas of Financial System and Corporate Governance – the Diversity of Capitalism Approach Perspective," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 52(1), pages 59-76, December.
    9. Asatryan, Zareh & Castellón, César & Stratmann, Thomas, 2018. "Balanced budget rules and fiscal outcomes: Evidence from historical constitutions," Journal of Public Economics, Elsevier, vol. 167(C), pages 105-119.
    10. Pasquale Tridico, 2011. "Varieties of capitalism and responses to the Financial Crisis: the European social Model versus the US Model," Departmental Working Papers of Economics - University 'Roma Tre' 0129, Department of Economics - University Roma Tre.
    11. Giuseppe Bertola, 2014. "Labor market policies and European crises," IZA Journal of Labor Policy, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 3(1), pages 1-11, December.
    12. Stefan Huemer & Beatrice Scheubel & Florian Walch, 2013. "Measuring Institutional Competitiveness in Europe," CESifo Economic Studies, CESifo Group, vol. 59(3), pages 576-608, September.
    13. Tindara Addabbo & Rosa García-Fernández & Carmen Llorca-Rodríguez & Anna Maccagnan, 2013. "The effect of the crisis on material deprivation in Italy and Spain," Department of Economics (DEMB) 0019, University of Modena and Reggio Emilia, Department of Economics "Marco Biagi".
    14. Messina, Julian & Strozzi, Chiara & Turunen, Jarkko, 2009. "Real wages over the business cycle: OECD evidence from the time and frequency domains," Journal of Economic Dynamics and Control, Elsevier, vol. 33(6), pages 1183-1200, June.
    15. Unver, Mustafa & Dogru, Bulent, 2015. "The Determinants of Economic Fragility: Case of the Fragile Five Countries," MPRA Paper 68734, University Library of Munich, Germany, revised 2015.
    16. repec:hal:wpspec:info:hdl:2441/5101 is not listed on IDEAS
    17. Sebastian Hauptmeier & Martin Heipertz & Ludger Schuknecht, 2007. "Expenditure Reform in Industrialised Countries: A Case-Study Approach," Fiscal Studies, Institute for Fiscal Studies, vol. 28(3), pages 293-342, September.
    18. Gorčák Martin & Šaroch Stanislav, 2021. "Impact of fiscal institutions on public finances in the European Union: Review of evidence in the empirical literature," Review of Economic Perspectives, Sciendo, vol. 21(2), pages 215-232, June.
    19. Merola, Rossana & Pérez, Javier J., 2013. "Fiscal forecast errors: Governments versus independent agencies?," European Journal of Political Economy, Elsevier, vol. 32(C), pages 285-299.
    20. Annette Bongardt* & Francisco Torres**, 2007. "Institutions, Governance and Economic Growth in the EU: Is There a Role for the Lisbon Strategy?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 42(1), pages 32-42, January.
    21. Bruno Albuquerque, 2012. "Fiscal institutions and public spending volatility in Europe," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unl:unlfep:wp502. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Susana Lopes (email available below). General contact details of provider: https://edirc.repec.org/data/feunlpt.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.