Project/scholarship details
- Project/scholarship ID
55423
- Reference
POCI/EGE/55423/2004
- FundRef URI
- Funder
FCT - Fundação para a Ciência e a Tecnologia, I.P.
- Funder's country
Portugal
- Funding program
POCI
- Funding amount
26,250.00 €
- Start date
2006-07-01
- End date
2008-07-31
Documents
The political economy of seigniorage
Veiga, Francisco José; Aisen, AriWhile most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional and economic reasons for relying on it. This paper investigates the main determinants of seigniorage using panel data on about 100 countries, for the period 1960-1999. Estimates show that greater political instability leads to higher seigniorage, especially in developi...
Portugal–EU convergence revisited : evidence for the period 1960–2003
Freitas, Miguel Lebre deThis paper uses the stochastic approach to convergence to investigate whether real per capita GDP in Portugal has been converging to the EU15 average. The estimation accounts for conditional convergence, transitional dynamics and up to two structural breaks. It is found that per capita GDP in Portugal has indeed converged to the EU15 average, but the pace of convergence has not been uniform along time. In parti...
Sobre a perda de ímpeto no processo de convergência da economia portuguesa: uma...
Freitas, Miguel Lebre deNeste artigo, argumenta-se que a recente perda de ímpeto em matéria de convergência é consistente com a interpretação neo-clássica, segundo a qual os países crescerão tão mais devagar quanto mais próximos estiverem do seu equilíbrio de longo prazo. Com base num exercício simples de “contabilidade de níveis”, argumenta-se que o movimento de convergência iniciado na segunda metade do século passado terá sido esse...
Institutions, governance and economic growth in the EU : is there a role for th...
Bongardt, Annette; Torres, FranciscoForthcoming in Intereconomics – Review of European Economic Policy, Springer, Vol. 42, No. 1, 2007. The authors are Associate Professor, Universidade Moderna, Lisbon, and Research Fellow at IEEI and Professor and Research Coordinator, IEE, Universidade Católica, Lisbon, and National Institute for Public Administration (INA), respectively.; In order to ensure that the internal market delivers (growth, jobs) in t...
Sobre a perda de ímpeto no processo de convergência da economia portuguesa: uma...
Freitas, Miguel Lebre deNeste artigo argumenta-se que a perda progressiva de ímpeto observada na trajectória de convergência da Economia Portuguesa é consistente com a interpretação neo-clássica, segundo a qual as economias crescerão tão mais devagar quanto mais próximas estiverem do seu equilíbrio de longo prazo. Com base num exercício simples de contabilidade de níveis, argumenta-se que o impulso de crescimento observado na segunda ...
Is the ‘European Model’ viable in a globalized world?
Bongardt, Annette; Torres, FranciscoThis paper will presented at the 27th Annual Conference of the Portuguese Economic and Social History Association on “Globalization: Long-Term Perspectives” Lisbon, 16-17 November 2007, and is forthcoming in P. Della Posta, A. Verdun and M. Uvalic (eds), Interpreting globalization: a European Perspective, Basingstoke: Palgrave Macmillan. We are grateful to Jeff Frieden for a stimulating discussion of this paper...
The long road to EMU: the economic and political reasoning behind Maastricht
Torres, FranciscoThis paper aims to examine whether the economic and political reasoning behind Maastricht is consistent with earlier approaches to monetary integration. In doing so, it revisits the intellectual debate on monetary integration in Europe at different stages. It concludes that Economic and Monetary Union (EMU) as agreed at Maastricht reflected a compromise between two different but converging preferences, in the c...
On the efficiency-legitimacy trade-off in EMU
Torres, FranciscoForthcoming in F. Torres, A. Verdun, and H. Zimmermann, EMU Rules: The Political and Economic Consequences of European Monetary Integration, Baden-Baden: Nomos Verlagsgesellschaft I wish to thank Svetlozar Andreev, Stefano Bartolini, Annette Bongardt, Alessandra Chirico, Paul De Grauwe, Erik Jones, Philippe Schmitter, Suzanne Schüttemeyer, Amy Verdun, Neil Walker, Helen Wallace, Chiara Zilioli, Hubert Zimmerman...
A convergência para a União Económica e Monetária : objectivo nacional ou const...
Torres, FranciscoIn Portugal, as in most other European Union (EU) countries, the challenge of Economic and Monetary Union (EMU) has worked as a mechanism for economic stabilisation. However, the political consensus on the participation in EMU did not develop with respect to the need for implementing structural reforms and abolishing many of the policy distortions affecting the economy and to other goals of European integration...
Financial globalization, convergence and growth
Gomes Neto, Delfim; Veiga, Francisco JoséDocumento "Preliminary and Incomplete"; We provide evidence that the composition of foreign capital, measured by the ratio foreign direct investment over total liabilities, a.ects growth directly and through the speed of convergence. Developing countries benefit relatively more as their initial GDP is smaller. The dataset comprises the period 1970-2004 and 96 countries, and the results are robust to di.erent me...
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