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What the Keynesian theory said about Portugal?

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  • Martinho, Vítor João Pereira Domingues

Abstract

With this work it is intended to analyze the contributions of the Keynesian theory to the explanation of the regional evolution in Portugal. Considering the Keynesian models in different perspectives and taking into account the Verdoorn (1949) relationship it is did data and econometric analysis for the Portuguese economy in the period from 1995 to 1999. There are not many or none works based in the Keynesian theory and in the Verdoorn relationship for Portugal, namely at regional level. On the other hand the models based in this theory are regularly used to explain the regional economic growth in many countries. So, it is thought that analyze the economic Portuguese context with this theory is an important contribution to the economic theory and to the Portuguese understanding. As main conclusion it can be said that the Keynesian theory show for Portugal, in this period, regional and sectoral divergence. --

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Paper provided by ZBW - German National Library of Economics in its series EconStor Preprints with number 59007.

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Date of creation: 18 Jun 2012
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Handle: RePEc:zbw:esprep:59007

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Keywords: Keynesian theory; Verdoorn law; Portuguese regions;

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References

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  1. Giorgio Fazio & Enza Maltese & Davide Piacentino, 2013. "Estimating Verdoorn law for Italian firms and regions," Letters in Spatial and Resource Sciences, Springer, vol. 6(1), pages 45-54, March.
  2. Reinhold Kosfeld & Christian Dreger, 2005. "Thresholds for Employment and Unemployment - a Spatial Analysis of German Regional Labour Markets 1992-2000," ERSA conference papers ersa05p39, European Regional Science Association.
  3. Romina Gambacorta, 2004. "Il dibattito sulla legge di Verdoorn: alcuni risultati empirici usando l’analisi di cointegrazione," Rivista di Politica Economica, SIPI Spa, vol. 94(3), pages 251-, May-June.
  4. Reinhold Kosfeld & Christian Dreger, 2004. "Thresholds for Employment and Unemployment. A Spatial Analysis of German Regional Labour Markets 1992-2000," Discussion Papers in Economics 52/04, University of Kassel, Institute of Economics.
  5. Nicholas Apergis & Spyros Zikos, 2003. "The Law of Verdoorn: Evidence from Greek Disaggregated Manufacturing Time Series Data," The Economic and Social Review, Economic and Social Studies, vol. 34(1), pages 87–104.
  6. Vitor Joao Pereira Domingues Martinho, 2011. "Spatial Effects and Verdoorn Law in the Portuguese Context," Papers 1110.5573, arXiv.org.
  7. Fingleton, B & McCombie, J S L, 1998. "Increasing Returns and Economic Growth: Some Evidence for Manufacturing from the European Union Regions," Oxford Economic Papers, Oxford University Press, vol. 50(1), pages 89-105, January.
  8. Elias Soukiazis & Vitor Martinho, 2005. "Economias à Escala e Endogeneidade dos Factores Produtivos. Análise regional e sectorial ao nível das NUTs II portuguesas," Notas Económicas, Faculdade de Economia, Universidade de Coimbra, issue 22, pages 23-50, December.
  9. Martinho, Vítor João Pereira Domingues, 2011. "An alternative use of the Verdoorn law at the Portuguese nuts II level," MPRA Paper 32189, University Library of Munich, Germany.
  10. Stilianos Alexiadis & Dimitrios Tsagdis, 2006. "Reassessing the validity of Verdoorn's law under conditions of spatial dependence: a case study of the Greek regions," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 29(1), pages 149-170, October.
  11. Fernando de Aquino Fonseca Neto & Joanílio Rodolpho Teixeira, 2004. "Globalização Econômica e Investimentos no Brasil," Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia 322, Departamento de Economia da Universidade de Brasilia.
  12. Martinho, Vítor João Pereira Domingues, 2011. "The Verdoorn law in the Portuguese regions: a panel data analysis," MPRA Paper 32186, University Library of Munich, Germany.
  13. Ingrid H. Rima, 2010. "The Political Economy of the Undervalued Renminbi," DETU Working Papers 1012, Department of Economics, Temple University.
  14. Rowthorn, R E, 1979. "A Note on Verdoorn's Law," Economic Journal, Royal Economic Society, vol. 89(353), pages 131-33, March.
  15. Ferdinando Ofria, 2009. "L'approccio Kaldor-Verdoorn: una verifica empirica per il Centro-Nord e il Mezzogiorno d'Italia (anni 1951-2006)," Rivista di Politica Economica, SIPI Spa, issue 1, pages 179-207, January-M.
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Cited by:
  1. Martinho, Vítor João Pereira Domingues, 2011. "Application of keynesian theory and new economic geography in Portugal. Differences and similarities," MPRA Paper 32911, University Library of Munich, Germany.
  2. Martinho, Vítor João Pereira Domingues, 2011. "What said the economic theory about Portugal. Another approach," MPRA Paper 33022, University Library of Munich, Germany.

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