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Economic Stabilization and Growth in Portugal

Economic Stabilization and Growth in Portugal »

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

DOI: http://dx.doi.org/10.5089/9781557750617.084

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

This paper reviews economic stabilization and growth in Portugal during the 1970s. Following a decade of rapid growth with external equilibrium, the Portuguese economy in the early 1970s suffered a series of major...

Back Matter

Back Matter »

Source: Economic Stabilization and Growth in Portugal

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

This paper reviews economic stabilization and growth in Portugal during the 1970s. Following a decade of rapid growth with external equilibrium, the Portuguese economy in the early 1970s suffered a series of major...

Front Matter

Front Matter »

Source: Economic Stabilization and Growth in Portugal

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

This paper reviews economic stabilization and growth in Portugal during the 1970s. Following a decade of rapid growth with external equilibrium, the Portuguese economy in the early 1970s suffered a series of major...

I Introduction

I Introduction »

Source: Economic Stabilization and Growth in Portugal

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

Following a decade of rapid growth with external equilibrium the Portuguese economy in the early 1970s suffered a series of major shocks. Even before the Revolution of April 1974 the increase in world petrol...

II Economic Background

II Economic Background »

Source: Economic Stabilization and Growth in Portugal

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

Beginning in 1974 Portugal’s balance of payments, which had traditionally been in surplus, moved into substantial deficit. An external current account surplus equivalent to 3 per cent of gross domestic produ...

III Issues and Actions

III Issues and Actions »

Source: Economic Stabilization and Growth in Portugal

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

In March 1977 Portugal applied for full membership in the European Community. The prospect of full membership by 1983 raised the premium on Portugal’s capacity to sustain high rates of growth in an open econ...

IV Economic Outturn

IV Economic Outturn »

Source: Economic Stabilization and Growth in Portugal

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

The recovery of the Portuguese balance of payments, once the stabilization program was fully in place, turned out to be as rapid as its previous deterioration had been. An external deficit on current account...

V Conclusion

V Conclusion »

Source: Economic Stabilization and Growth in Portugal

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

The Portuguese balance of payments, after recording substantial deficits for a number of years, swung back into surplus with the implementation of a comprehensive stabilization program in 1978. The program i...