A model of the Keynesian theory for Portugal. Another approach
With this work we try to present an alternative model for Portugal based on the Keynesian theory. We built the model testing the validity of the well known “Verdoorn´s Law” which considers the relationship between the growth of productivity and output in the case of the Portuguese economy at a regional and sectoral levels (NUTs II) for the period 1995-1999. The importance of some additional variables in the original specification of Verdoorn´s Law is also tested, such as, trade flows, capital accumulation and labour concentration.
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