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Financiamento da Economia Portuguesa: um Obstáculo ao Crescimento?

Author

Listed:
  • João Leão

    (Office for Strategy and Studies (GEE), Portuguese Ministry of Economy; ISCTE- University Institute of Lisbon)

  • Ana Martins

    (Office for Strategy and Studies (GEE), Portuguese Ministry of Economy)

  • João Gonçalves

Abstract

Esta análise propõe-se aferir a importância das restrições de financiamento das empresas portuguesas no crescimento da economia, concluindo que a dificuldade de acesso ao financiamento, no período 2010-2014, foi um dos principais entraves à competitividade das empresas. O principal problema foi a contração da oferta de crédito por parte do sistema financeiro português. Isto implica que empresas saudáveis, incluindo PMEs, não têm acesso ao crédito necessário e não podem financiar (por exemplo) o crescimento das exportações, o que afeta negativamente a sua viabilidade económica e também as perspetivas de crescimento da economia portuguesa. A fragmentação financeira da Zona Euro encontra-se no cerne da questão na medida em que dificulta o processo de transmissão monetária. O BCE tem multiplicado medidas para contornar este problema e fazer chegar a política monetária às economias da periferia por forma a relançar o crescimento económico da Zona Euro.

Suggested Citation

  • João Leão & Ana Martins & João Gonçalves, 2014. "Financiamento da Economia Portuguesa: um Obstáculo ao Crescimento?," GEE Papers 0052, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Nov 2014.
    • Handle: RePEc:mde:wpaper:0052
    as

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    File URL: https://www.gee.gov.pt/RePEc/WorkingPapers/GEE_PAPERS_52.pdf
    File Function: First version, 2014
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    References listed on IDEAS

    as
    1. Mr. Ali J Al-Eyd & Pelin Berkmen, 2013. "Fragmentation and Monetary Policy in the Euro Area," IMF Working Papers 2013/208, International Monetary Fund.
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    More about this item

    Keywords

    Financiamento Economia; Fragmentação Financeira Zona Euro;

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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