G2TT
来源类型Discussion paper
规范类型论文
来源IDDP378
DP378 External Liberalization with Ambiguous Public Response: The Experience of Portugal
Jorge Braga de Macedo
发表日期1990-02-01
出版年1990
语种英语
摘要This paper reviews the traditional ambiguity of Portuguese policy towards external liberalization. Product and labour markets have become segmented as a result of the soft budget constraint faced by large corporations and job protection in the public sector. Relaxation of entry requirements into banking since 1985 has made it more difficult for the government to use the banks as implicit tax collectors. But the frozen state of banking and a disguised fiscal policy still constrain monetary and exchange rate policy. Until a credible Multi-Annual Fiscal Adjustment Strategy is established, the disinflation necessary to allow active monetary policy and entry into the EMS will not be achieved.
主题International Macroeconomics
关键词Dualism Ec integration Fiscal adjustment Portugal
URLhttps://cepr.org/publications/dp378
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/529533
推荐引用方式
GB/T 7714
Jorge Braga de Macedo. DP378 External Liberalization with Ambiguous Public Response: The Experience of Portugal. 1990.
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