External dependency, value added generation and structural change: an inter-industry approach

The external dependency of many industries and the corresponding low value added generated in production, combined with a relatively weak export potential, create high external deficits and growing debt to GDP ratios in several open economies. In this paper we propose an empirical method to assess the evolution of these vulnerabilities, based on a new treatment of interindustry production multipliers. The (gross)output growth potential given by the column sums of the Leontief inverse matrix (backward linkage indicators) results from three terms: interindustry consumptions, value added and imported inputs. After a convenient arrangement of these terms, the evolution of backward linkage indicators can be used to detect structural changes, particularly quantifying a (net) growth effect (more value-added generation) and an external dependency effect (more imported inputs), and to classify the productive sectors accordingly. An application to the Portuguese Economy is made, using input-output tables for the years 1980, 1995 and 2005. This method can also be useful as a simple, but suggestive, device to compare the evolution of two or more economies, along their development processes in time.

External dependency, value added generation and structural change: an interindustry approach

The external dependency of many industries and the corresponding low value added generated in production create high external deficits and growing debt to GDP ratios in several open economies. In this paper we propose an empirical method to assess the evolution of these vulnerabilities, based on a new treatment of interindustry production multipliers. The (gross) output growth potential given by the column sums of the Leontief inverse matrix (backward linkage indicators) results from three terms: interindustry consumptions, value added and imported inputs. After a convenient arrangement of these terms, the evolution of backward linkage indicators can be used to detect structural changes, particularly quantifying a (net) growth effect (more value-added generation) and an external dependency effect (more imported inputs), and to classify the productive sectors accordingly. An application to the Portuguese Economy is made, using input-output tables for the years 1980, 1995 and 2005. This method can also be useful as a simple, but suggestive, device to compare the evolution of two or more economies, along their development processes in time.input-output linkages; external dependency; structural change; Portugal

O impacto económico da integração de Portugal na Europa

Neste artigo é descrito o impacto da adesão de Portugal à CEE sobre a economia portuguesa. São considerados três períodos: o período imediatamente seguinte à adesão, em que o impacto foi claramente positivo, permitindo à economia portuguesa crescer a um ritmo relativamente elevado; o período de preparação para a moeda única, em que se geraram problemas de competitividade externa devido à política macroeconómica seguida e às transformações do comércio mundial; e finalmente o período desde a criação da moeda única até à actualidade em que a economia portuguesa entrou em crise e em que o elevado nível de endividamento condiciona fortemente as possibilidades de crescimento futuro. Como lição geral deste período, o autor conclui que a economia portuguesa se comportou bem enquanto Portugal dispôs de margem de manobra para seguir uma política económica própria, mas que os resultados são posteriormente negativos devido ao excessivo centralismo da política económica europeia

Technological waves and economic growth : thoughts on the digital revolution

This paper develops concepts and theoretical models that can prove useful for the study of technological revolutions both from the point of view of economic growth theory and of economic history. The basic concepts are innovative capital, technological wave and technological revolution and a comparison is made with other concepts such as industrial revolution and social revolution in the Marxian sense.info:eu-repo/semantics/publishedVersio

Convexity in semi-metric spaces, decision theory and consumer theory

Convexity is a concept usually developed in vector spaces. However since the seventies of the 20th century, convexity is also study in metric spaces in general. In this paper we develop a theory of convexity - including convex real functions - in semi-metric spaces and we suggest some possible applications in Economics and Decision Theory.info:eu-repo/semantics/publishedVersio

Accumulation of capital, production functions and models of economic growth

This paper is about the possible interdependence of the assumptions related to the properties of the process of accumulation of capital and the properties of the production function as they are used in models of economic growth. The case of a semi-bounded substitution production function exemplifies this kind of interdependence and the consequent restrictions that may condition economic growth.info:eu-repo/semantics/publishedVersio

Semimetric spaces : topological considerations

info:eu-repo/semantics/publishedVersio

New approach to the optimization problem

A new approach to the problem of optimization is developed using tools such as the concepts of aggregate and of combined functions. The solving of a simple problem of calculus of variations with inequality constraints illustrates the potentiality of this new method.info:eu-repo/semantics/publishedVersio