Free trade and nation-states : imperfections in the global economy

This paper discusses several topics relating free trade to the concept of the nation state. Classical political economy, and later economics, developed without acknowledging any theoretical role for the nation state, which is basically considered as a distortion. Despite expressions of dissent from a few major economists, like Schumpeter, and the special case of Keynesianism, the issue has never been completely resolved. However, in many circumstances, and contrary to the standard approach, the nation state plays a key active role in the evolution of international flows, and should be theoretically incorporated. The present paper attempts to reintroduce this concept into the analysis, taking into account not only its more obvious features, i.e., the existing countries and governments, but also some other underlying factors of the nation state such as language, history and currencies, which are often neglected, even in the literature on complements and “exceptions” to free trade. In so doing, various imperfections become evident and consequently, the outcomes of free trade may be different to what is assumed in the standard analysis, while a more realistic picture of the world economy emerges. Although some research work has been carried out on this subject, particularly since the 1980s, much remains to be done in order to include these elements fully into the theoretical analyses

Internationalization strategies in Iberoamerica : The case of Portuguese trade

Project DocumentThe Portuguese trade strategy is an interesting analytical issue. Indeed, as a small economy and contrary to most other similar European countries, Portugal, in the post-war, was late and slowly integrated into the world economy. This was mainly due to the maintenance of an economic logic of empire that has only waned in the late 1960s; and, after a transitory period (1974-1985) where deep macroeconomic imbalances did not allowed a reversal of the trend to neglect the construction of an effective and large trade strategy, the EC membership in 1986 began to influence the substance and institutional framework in this key area for a country with its characteristics. This paper basically focuses on the evolution of Portuguese trade and internationalization strategies between 1996 and 2006. After a brief overview of the trade strategy and its main stages in the post-war (I), we examine the main changes occurred in Portuguese foreign trade, particularly exports, since 1996 (II). The latter chapter is developed under several perspectives: a) the behavior of exports within the context of the balance of trade in goods and services; b) the overall balance of payments with its flows, giving special emphasis to inward and outward FDI; c) the recent trends to geographical concentration or diversification of goods' exports; d) the analysis of the structure of exports of goods and services, by kind of products. The two following chapters deal with the institutional framework of Portuguese trade strategy. In chapter III, the public agencies with significant influence on the internationalization process are introduced: the PRIME/SIME and QREN programs supervised by the Ministry of Economy and Innovation; AICEP, by far, the most important public body in the field of external promotion (since July 2007, covering trade as well as investment); a shorter presentation of IAPMEI (specialized agency in the support to SMEs), and a view of the cooperation with the Ministry of Foreign Affairs complete the chapter. In chapter IV, the contribution of employers' federation and related organization to the Portuguese trade strategy is appraised, AIP and Forum para a Competitividade are examined in more detail; the role of COSEC, the main organization that manages the credit and finance for exports (including public funds), is also considered. In chapter V the Portuguese trade is put within the context of all Ibero-American countries, the bilateral relations with Spain and Brazil, those that have statistical significance are more developed, and deserve some comments. In chapter VI, we treat the export performance of Portuguese firms, and present a few experiences (Qimonda, Renova, Iberomoldes, and EFACEC). Finally, in chapter VII, we sum up the main conclusions of the previous analysis. In a brief summary of the findings of this research, as far as the external sector is concerned and during the 1990s and 2000s, the Portuguese economy has not yet overcome important negative historical legacies like the fact of remaining relatively closed and showing deep competitive weaknesses. Until the middle of the 2000s, the performance of Portuguese trade was clearly unfavorable from the global and European point of view (one of most striking examples is the substantial reduction of Portugal's share in the German market). However, at the same time, there was an improvement in relevant aspects of the sector; e.g., the weight of new and upgraded products in the exports' structure has been enlarged and trade imbalances have diminished. After 2005, there are a few signs of a positive turn; we can observe a greater diversification of exports by products or geographically, in particular towards outside EU and new member states, and exports are growing at a higher rate than imports and output (in spite of the high value of the euro). One of the fundamental reasons behind the weak trade performance since the early nineties has clearly been the lack of a true and credible strategy of internationalization, particularly when addressed to solve competitive problems in the context of EMU. In this respect, also in the last years, more precise targets have been put forward and need to be seriously implemented. Even if these new initiatives are successful, due to the size and persistence of its fragilities, the competitive transformation of the Portuguese economy in the globalization era will be a long term process

Seeking solutions to the crisis of the Euro

The evolution of the European single currency is still uncertain. While the enlargement of the Euro Club continues, there is a likelihood that members facing systemic difficulties may have to leave it

Trade between asymmetrical democratic countries

ln this paper, we tried to show that the problems arising from trade between countries with asymmetrical power still matter, though differently from traditional patterns. Notwithstanding the fact that some aspects we have analysed remain vague and imprecise, because of their many connections and implications, we hope that this initiative will stimulate further research on the subject.info:eu-repo/semantics/publishedVersio

As relações económicas luso-brasileiras desde a década de noventa : uma visão estratégica

A partir dos anos 1990, as relações económicas entre Portugal e o Brasil entraram numa nova fase do seu desenvolvimento histórico, em particular com maior participação das empresas e dos seus investimentos. Sobretudo nos anos 2000, o processo chamou a atenção dos investigadores, principalmente dos dois países, e foi objeto de um número razoável de trabalhos, tanto publicações (livros, artigos e capítulos) como académicos (teses e dissertações). Sob várias óticas, teóricas e empíricas dentro da economia e da gestão (por exemplo, a economia internacional e os recursos humanos), têm sido abordados não só os movimentos comerciais, de investimento direto e financeiros, mas também realizados, entre outros, estudos comparativos setoriais e de caso. A investigação tem sido conduzida em diálogo aberto com outras áreas científicas, como a ciência polí-tica, as relações internacionais, a sociologia e a história. O presente artigo resume alguns dos principais resultados destas pesquisas, atualiza dados para os últimos anos e reflete sobre o processo agora caminhando para o seu quarto de século. Apesar da sua força e interesse analítico, na medida em que são um caso dentro da problemática mais geral das proximidades linguísticas e culturais e seus impactos económicos e financeiros, tema que conheceu novo vigor no contexto da globalização e da integração regional que prevaleceu nas últimas décadas, as relações económicas luso-brasileiras não foram até à data integradas numa visão estratégica na via do seu natural aprofundamento, em particular por parte das instâncias políticas, que aliás lhe introduziram por vezes descontinuidade. O artigo aborda estas questões e refere caminhos para a sua superação e melhor aproveitamento do seu potencial, especialmente para Portugal, dada a assimetria básica destas relações.info:eu-repo/semantics/publishedVersio

António Costa Pinto & Nuno Severiano Teixeira (eds), A Europa do Sul e a Construção da União Europeia 1945-2000 ; Sebastián Royo (ed.), Portugal, Espanha e a Integração Europeia : Um Balanço

Nesta recensão, resolvemos juntar duas publicações recentes da editora Imprensa de Ciências Sociais ligada ao Instituto de Ciências Sociais da Universidade de Lisboa. Com efeito, ambas visam comparar as diversas experiências dos países da Europa do Sul no que diz respeito à integração na União Europeia, transição para a democracia e outros aspectos relevantes da sua evolução económica, política e social no Pós-Guerra. Deve-se no entanto precisar que a obra referida em segundo lugar, tem um al..