Apresentação

Reis, Rossana Rocha

doi:10.1590/0102-64452015009400001

Cited by 1 publication

(1 citation statement)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In both accounts the core’s trade surpluses and the periphery’s deficits are two sides of the same story. Regarding Portugal, Reis (2014) states as follows:Portugal was one of the peripheral economies which, since the preparation for the euro, registered a prolonged stagnation, with continuous current account deficits, leading to a high external indebtedness. Peripheral deficits are linked to the surpluses of the core and these fuel the corresponding financial capital’s recycling processes through credit to deficit countries (Reis 2014).…”

Section: Unit Labour Costs In Theory and Practicementioning

confidence: 99%

Product specialisation, global competition, and industrial decline: Portugal’s path to crisis

Stadheim

2023

Competition & Change

View full text Add to dashboard Cite

A widely held view in economics and comparative capitalism states that the crisis in the eurozone was a crisis of labour cost competitiveness. This view maintains that a divergence in unit labour costs engendered a cleavage between the euro area’s core and periphery. Critics have disputed this and drawn attention to export specialisation, along with global competition, rather than intra-European competition. To make progress on this agenda, this article focuses on structures of production as a source of crisis vulnerability. It advances the notion that countries have unique forms of articulation within global capitalism, and that this matters to understanding national crisis trajectories. Focussing on the Portuguese case, the article scrutinises the interactions between export specialisation, global competition and industrial decline. The article shows that Portugal’s current account deficit developed within a context of industrial change and deindustrialisation, which was facilitated competition from China and Eastern Europe. By stressing industrial patterns and global competition, the article provides a more concrete analysis of production than most accounts of the eurozone crisis.

show abstract

Section: Unit Labour Costs In Theory and Practicementioning

confidence: 99%

Product specialisation, global competition, and industrial decline: Portugal’s path to crisis

Stadheim

2023

Competition & Change

View full text Add to dashboard Cite

show abstract

Apresentação

Cited by 1 publication

References 0 publications

Product specialisation, global competition, and industrial decline: Portugal’s path to crisis

Product specialisation, global competition, and industrial decline: Portugal’s path to crisis

Contact Info

Product

Resources

About