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The Irrelevance of Political Parties’ Differences for Public Finances - Evidence from Public Deficit and Debt in Portugal (1974 – 2012) Abstract: This paper attempts to empirically test whether inter-parties’ political differences impact public finances in Portugal differently. Focused on public debt and the government budget deficit, and using data collected since 1974 for several variables, this paper applies econometric modeling to show that inter-parties’ differences have had no significant impact on the performance of public finances in Portugal. We observed that the Portuguese public budget deficit and the Portuguese public debt are mainly influenced by the process of globalization, the profile of the Portuguese Welfare State, and the phases of the economic cycle. In this context, this paper aims to dispel some myths regarding the “value” of a policy process based on political intrigue, enmity, and confrontation around differentiated political parties’ merits in European democracies

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Paper provided by NIPE - Universidade do Minho in its series NIPE Working Papers with number 11/2015.

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Handle: RePEc:nip:nipewp:11/2015
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Núcleo de Investigação em Políticas Económicas, Escola de Economia e Gestão, Universidade do Minho, P-4710-057 Braga, Portugal

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  2. Elliott Parker, 2006. "Does the Party in Power Matter for Economic Performance?," Working Papers 06-008, University of Nevada, Reno, Department of Economics;University of Nevada, Reno , Department of Resource Economics.
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  12. Stephen Ferris & Marcel Voia, 2008. "What determines the length of a typical Canadian parliamentary government?," Carleton Economic Papers 08-06, Carleton University, Department of Economics, revised Dec 2009.
  13. William D. Nordhaus, 1975. "The Political Business Cycle," Review of Economic Studies, Oxford University Press, vol. 42(2), pages 169-190.
  14. Frey, Bruno S & Schneider, Friedrich, 1981. "A Politico-Economic Model of the U.K.: New Estimates and Predictions," Economic Journal, Royal Economic Society, vol. 91(363), pages 737-740, September.
  15. Hahm, Sung Deuk & Kamlet, Mark S. & Mowery, David C., 1995. "Influences on Deficit Spending in Industrialized Democracies," Journal of Public Policy, Cambridge University Press, vol. 15(02), pages 183-197, May.
  16. Cowart, Andrew T., 1978. "The Economic Policies of European Governments, Part II: Fiscal Policy," British Journal of Political Science, Cambridge University Press, vol. 8(04), pages 425-439, October.
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