IDEAS home Printed from https://ideas.repec.org/p/ise/gheswp/wp232005.html
   My bibliography  Save this paper

The Long-Run Behaviour of the Income Velocity of Money in Portugal: 1854-1992

Author

Listed:
  • Ana Bela Nunes
  • Nuno Valerio
  • Rita Martins de Sousa

Abstract

This paper analyses the behaviour of the Portuguese income velocity of money from 1854, when Portugal precociously accepted the rules of the gold exchange standard and the eve of the European Economic Union. The long run behaviour of income velocity of money in Portugal displays, throughout the entire period, a pattern in line with its relative economic and institutional backwardness. Only from the 1950s on, did a general process of modernization of the Portuguese economy take place. Economic growth was sustained and important institutional aspects related to monetary and financial factors were developed up to 1973. Portuguese income velocity of money displays the U-shaped pattern, which is also apparent in several case-studies concerning developed economies. However, the inflexion point of the trend is delayed to 1973 as a consequence of Portuguese relative economic and institutional backwardness and in line with the Spanish case.

Suggested Citation

  • Ana Bela Nunes & Nuno Valerio & Rita Martins de Sousa, 2005. "The Long-Run Behaviour of the Income Velocity of Money in Portugal: 1854-1992," Working Papers GHES - Office of Economic and Social History 2005/23, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.
    • Handle: RePEc:ise:gheswp:wp232005
    as

    Download full text from publisher

    File URL: https://ghes.rc.iseg.ulisboa.pt/wp/wp232005.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Amélia Branco & Francisco M. Parejo, 2010. "The Creation of a Competitive Advantage in the Portuguese Cork Industry: The Contribution of an Industrial District," Working Papers GHES - Office of Economic and Social History 2010/43, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.
    2. Leonor Freire Costa & Jaime Reis, 2016. "The chronic food deficit of early modern Portugal: curse or myth?," Working Papers GHES - Office of Economic and Social History 2016/58, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.
    3. Ana Bela Nunes, 2015. "The Portuguese economy in the 1980s: structural change and short-term upheavals," Working Papers GHES - Office of Economic and Social History 2015/55, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ise:gheswp:wp232005. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Natalia Nobre (email available below). General contact details of provider: https://aquila.iseg.ulisboa.pt/aquila/research/ghes .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.