Effects of a monetary union on a small peripheral country: stabilization and competitiveness in Portugal

• Autor(es): Castro, Henrique Moreira da Silva Oliveira
• Data: 2010
• Identificador Persistente: http://hdl.handle.net/10362/10347
• Origem: Repositório Institucional da UNL
• Assunto(s): Monetary union; Competitiveness; Current account; Adjustment
• Tipo de Documento: Dissertação de mestrado
• Idioma: Inglês
• Orientador(es): Corado, Maria Cristina
• Contribuidor(es): RUN

Descrição

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics

The first decade of the 21st century introduced the euro in Portugal. This step towards European integration implied that Portuguese economic authorities lose monetary independence. We investigate the impact of that loss in Portuguese competitiveness through the construction of competitiveness indicators, and on current account dynamics trough a decomposition of the current account. Despite the continuous loss of competitiveness after 1999, empirically we don’t find evidence that the euro is contributing to it. We do find evidence that current account adjustment pattern changed after 1999.