Public Sector Economics

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The indebtedness of households up until the economic adjustment programme for Portugal: an empirical assessment



José Ricardo Borges Alves*
   
Rita Maria Henriques Pereira *
Article   |   Year:  2020   |   Pages:  529 - 550   |   Volume:  44   |   Issue:  4
Received:  December 2, 2019   |   Accepted:  July 17, 2020   |   Published online:  December 1, 2020
Download citation        https://doi.org/10.3326/pse.44.4.5       


Figure 1
Domestic credit to the private sector in Portugal as % of GDP, 1961‐2011
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Figure 2
Long‐term interest rate for convergence purposes for Portugal, 1993‐2012
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Figure 3
Annual Portuguese GDP and DCPS growth rates, 1961‐2011
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Table 1
Constant Markov transition probabilities matrix (all periods)
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Figure 4
State probabilities of the DCPS‐to‐GDP ratio for Portugal, 1961‐2011
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Table 2
Granger causality tests
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Table 3
Long-run estimates of Portuguese GDP and DCPS
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Table 4
Vector error correction (VEC) model estimations, 1961-1975
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Table 5
VEC Model: Error‐correction coefficients, 1961-1975
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Figure 5
Current account balance as % of GDP, 1980-2011
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  December, 2020
IV/2020
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