Zombie Companies in Portugal – The non-tradable sectors of Construction and Services

This paper studies the prevalence and economic consequences of zombie companies in Portugal, specifically in two major sectors of activity, construction and services. These sectors are less exposed to external competition and zombie companies may remain due to reduced competitive forces. Zombie companies are supported by easy credit access and low interest rates and would… Continue reading Zombie Companies in Portugal – The non-tradable sectors of Construction and Services

Fish processing in Portugal: An industry in expansion

This paper presents an analysis of developments in the Portuguese fish processing industry from the 1960s to the present as well as prospects for future expansion. In this period, Portugal has undergone tremendous political and macroeconomic changes. While Portugal used to be nearly self-sufficient in the supply of fish, the country has become a net… Continue reading Fish processing in Portugal: An industry in expansion

Does the stock market cause economic growth? Portuguese evidence of economic regime change

This research tests the relation between stock market and economic growth for Portugal using data from 1993 to 2011. Because Portugal is a small open economy traditionally dependent on bank financing, we also consider the relation between bank financing and economic growth. The empirical approach focuses on the study of the relation between stock market… Continue reading Does the stock market cause economic growth? Portuguese evidence of economic regime change

An economic analysis of the Portuguese fisheries sector 1960–2011

This paper undertakes an economic analysis of the Portuguese fisheries sector and fish markets for the period 1960–2011. In this period, the Portuguese economy underwent significant change as well as was subject to numerous external shocks. The main shocks include the revolution of 1974, substantial emigration as well as immigration, membership of the European Union… Continue reading An economic analysis of the Portuguese fisheries sector 1960–2011