Europe
Working Paper 166/2018: Portugal and the Euro
Abstract:
Portugal and the Euro is divided in two parts. In the first part, we present some data of the Portuguese economy aiming to capture some of its main long trends and the way it reacts to the introduction of the single currency in Europe. Since Portugal follow a similar path with Spain in what concerns the European economic integration process, we developed a comparative analysis between the two Iberian countries trying to capture some dynamics that can aid to understand the different ways how the two economies reacted to the introduction of the euro and, in this phase of the economic integration in Europe, how they suffered the 2007-2008 international crisis and reacted to its effects. To evaluate and compare the two countries paths we use some fundamental macroeconomic indicators as, output and employment, investment, external accounts, budget balances and government debts. The comparison with Europe’s average economic performance is also present, trying to understand which country follow a more “European path”. In the second part, we concentrate on the euro system crisis trying to give some contributes to the ongoing discussion about the role and effectiveness of the euro as an internal adjustment variable. Not only in terms of the pre-creation of the better conditions for the European economy to respond to cyclical and structural crisis processes, but also in terms of dealing with the developments of the real crisis process that explode in Europe in 2007-2008 and gave origin to what was called the “sovereign debt crisis” that deeply harmed the most week economies, like Portugal but also like Spain. In particular, we discuss the issue of the effectiveness versus the exhaustion of monetary policy followed by the ECB in response to the Eurozone effects of the global economic and financial crisis.
Quotation:
Mendonça, António (2018). “Portugal and the Euro”. Instituto Superior de Economia e Gestão – CEsA/ CSG – Documentos de Trabalho nº 166/2018.
Working Paper 165/2018: Portugal: crisis and restructuring
Abstract:
Portugal is a southwestern country with a strategic triangle including two archipelagos and a territorial slice of the Iberian Peninsula. It’s a State-member of the European Union (EU) since 1986. After 2008 faced financial and economic restrain and asked for financial external help from Troika (IMF, European Commission and European Central Bank) between 2011/14. Taking that in mind, Portugal: crisis and restructuring contextualizes Portugal’s present situation and its trends for the last ten or less years. The first chapter analysis main macroeconomic indicators of Portugal, including the GDP, imports and exports specific performance, consumer price index, net lending/ borrowing by institutional sector, and sovereign ratings from the biggest international agencies. The second chapter evaluates some of the country’s inner fragilities, such as lack of industrialization and unbalanced GVA and Employment between major sectors (agriculture, services and industry), Risk of Poverty, Unemployment Rates and major demographic trends. The third chapter focus on external dependence; studies indicators in percentage of the GDP, like the Liquid External Debt, Emigrants’ Remittances, Public Transferences from and for the EU, but also the Geographical Distribution of Exports and Imports of Goods by Regions and by countries, and of Foreign Direct Investment (FDI) by Countries. The fourth chapter examines the overseas AICEP network, the Global Peace Index, The Travel & Tourism Competitiveness Index and Portuguese indicators like the revenue and number of bed nights by country of origin. A final chapter has a summarized critical assessment about the hypothesis of the EU becoming a federation and Portugal’s part in it. The presentation proposes an approach to political economy and international relations. It begins by analyzing the main Portuguese macroeconomic indicators in the last years, taking into account internal weaknesses and the degree of external dependence. Afterwards, tries to assess national development on a globalized stage. It lists main current challenges from a geopolitical and geo-economic point of view and how difficult it is to face them. It also tests the hypothesis that Portugal is changing patterns, from crisis and loss of credibility to recovery, and some explanations are given to explain it.
Quotation:
Galito, Maria Sousa (2018). “Portugal: crisis and restructuring”. Instituto Superior de Economia e Gestão – CEsA/ CSG – Documentos de Trabalho nº 165/2018.
Working Paper 161/2017: Foreman of the Empire? Re-analysis of the readmission agreement with the European Union and the repatriation in the archipelago of Cape Verde
Abstract:
This article firstly presents an overview of legal framework and the weaknesses in the management of immigration in Cape Verde, analyzing in a particular way the Cape Verde readmission agreement with the European Union within the established special partnership (specifically the mobility partnership) with this same organization. On the other hand, it analyzes the Migration containment policies and management of the repatriated/deported in the archipelago, focusing on its close relationship with the phenomenon of readmission. This scenario leads to the question of whether Cape Verde is to transform or not into a “foreman of the empire”, that is, a praetorian guard in one of the most advanced frontiers of Europe. Trying to understand the complexity of migration to Cape Verde Island, one should also highlight the historical importance of links on the mobility of people, which played a key role in disseminating information and contacts between the pre-colonial societies. It should also refer to the implications of European colonial process in migration dynamics in the African continent, with the delineation of borders, through the recruitment of work force, or by using strategies for planning political and administrative control of the populations.
Quotation:
Varela, Odair Barros e Redy Wilson Lima (2017). “Foreman of the Empire? Re-analysis of the readmission agreement with the European Union and the repatriation in the archipelago of Cape Verde”. Instituto Superior de Economia e Gestão – CEsA/CSG – Documentos de Trabalho nº 161/2017.
