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Structural and technological change in the European periphery: The case of Portugal

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  • Argentino Pessoa

    ()
    (CEF.UP and NIFIP, Faculdade de Economia, Universidade do Porto)

Abstract

In the past Portugal managed to grow at a significant rate, but the pace has getting slower and slower from decade to decade, until becoming practically stagnant in the first decade of the 21st century. This stumpy growth together with the current debt crisis has fed the rhetoric of structural reforms in a so obsessive way as if they are a panacea. Our paper shows how structural change was occurred in the Portuguese economy and how it began to be transformed in technological change in the beginning of the 21st. century and argues that structural change and structural reform are two very different concepts and using the latter as a magic potion is more detrimental than beneficial of economic growth and structural change.

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Bibliographic Info

Paper provided by Universidade do Porto, Faculdade de Economia do Porto in its series CEF.UP Working Papers with number 1301.

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Length: 28 pages
Date of creation: Feb 2013
Date of revision:
Handle: RePEc:por:cetedp:1301

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Related research

Keywords: Catching-up; crisis; EMU; peripheral countries; Portuguese economy; structural change; structural reforms; technological change.;

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  1. Fagerberg, Jan, 1988. "International Competitiveness: Errata," Economic Journal, Royal Economic Society, vol. 98(393), pages 1203, December.
  2. Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
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  6. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  7. Dominique Guellec & Bruno van Pottelsberghe de la Potterie, 2001. "R&D and Productivity Growth: Panel Data Analysis of 16 OECD Countries," OECD Economic Studies, OECD Publishing, vol. 2001(2), pages 103-126.
  8. Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-98, June.
  9. Jan Fagerberg & Martin Srholec, 2007. "National innovation systems, capabilities and economic development," Working Papers on Innovation Studies 20071024, Centre for Technology, Innovation and Culture, University of Oslo.
  10. Fagerberg, Jan, 1988. "International Competitiveness," Economic Journal, Royal Economic Society, vol. 98(391), pages 355-74, June.
  11. Pessoa, Argentino, 2011. "The Euro Area sovereign debt crisis: Some implications of its systemic dimension," MPRA Paper 35328, University Library of Munich, Germany.
  12. Fagerberg, Jan, 1987. "A technology gap approach to why growth rates differ," Research Policy, Elsevier, vol. 16(2-4), pages 87-99, August.
  13. Jeffrey I. Bernstein & M. Ishaq Nadiri, 1991. "Product Demand, Cost of Production, Spillovers, and the Social Rate of Return to R&D," NBER Working Papers 3625, National Bureau of Economic Research, Inc.
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