Asymmetric regional dynamics: from bust to recovery
[Recurso eletrónico] “Regional convergence stands out in the severe adjustment of the Portuguese economy that followed the international financial crisis. This result contrasts with increasing regional inequality in other European countries. We show that regions’GDP growth rates of the Portuguese economy were driven by debt and exports. Our estimates suggest that di↵erences in regional debt-to-GDP and exports-toGDP ratios resulted in asymmetric regional economic dynamics. Highly indebted regions had a more severe recession and a slower recovery. Regions more open to trade had a milder recession and a stronger recovery. Finally, our results suggest
that fiscal decentralization may improve regions’ resilience.”
[Retirado do Abstract de Alexandre, Fernando; Costa, Hélder; Portela, Miguel; Rodrigues, Miguel (2018). “Asymmetric regional dynamics: from bust to recovery”. Working Paper Series. Universidade do Minho. 13 novembro 2018]
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