The economic effects of improving investor rights in Portugal

Bibliographic Details
Main Author: Castro, Rui
Publication Date: 2009
Other Authors: Clementi, Gian Luca
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.5/15593
Summary: The Portuguese economy has performed remarkably well since join- ing the EU in 1986. Output per worker grew at an annual rate of 2.25%. The relative price of investment has declined. Real investment has increased compared to output, in part fuelled by an increase in capital inflows. At the same time, resource allocation seems to have improved as well: firm-level data shows a significant decline in the dispersion of labor productivity and size across firms. This paper argues that improvements in outside investor rights that have taken place since Portugal joined the EU is a prime candidate to explain this set of facts.
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network_name_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
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spelling The economic effects of improving investor rights in PortugalMacroeconomicsInvestment rateRelative pricesResource misallocation · Investor protection · Optimal contracts · PortugalInvestor protectionOptimal contractsPortugalThe Portuguese economy has performed remarkably well since join- ing the EU in 1986. Output per worker grew at an annual rate of 2.25%. The relative price of investment has declined. Real investment has increased compared to output, in part fuelled by an increase in capital inflows. At the same time, resource allocation seems to have improved as well: firm-level data shows a significant decline in the dispersion of labor productivity and size across firms. This paper argues that improvements in outside investor rights that have taken place since Portugal joined the EU is a prime candidate to explain this set of facts.Springer VerlagRepositório da Universidade de LisboaCastro, RuiClementi, Gian Luca2018-06-11T14:05:30Z2009-082009-08-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15593engCastro, Rui e Gian Luca Clementi (2009). "The economic effects of improving investor rights in Portugal". Portuguese Economic Journal, 8(2):59-971617-982X (print)10.1007/s10258-009-0043-ymetadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-17T16:23:25Zoai:repositorio.ulisboa.pt:10400.5/15593Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T04:12:21.394059Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv The economic effects of improving investor rights in Portugal
title The economic effects of improving investor rights in Portugal
spellingShingle The economic effects of improving investor rights in Portugal
Castro, Rui
Macroeconomics
Investment rate
Relative prices
Resource misallocation · Investor protection · Optimal contracts · Portugal
Investor protection
Optimal contracts
Portugal
title_short The economic effects of improving investor rights in Portugal
title_full The economic effects of improving investor rights in Portugal
title_fullStr The economic effects of improving investor rights in Portugal
title_full_unstemmed The economic effects of improving investor rights in Portugal
title_sort The economic effects of improving investor rights in Portugal
author Castro, Rui
author_facet Castro, Rui
Clementi, Gian Luca
author_role author
author2 Clementi, Gian Luca
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Castro, Rui
Clementi, Gian Luca
dc.subject.por.fl_str_mv Macroeconomics
Investment rate
Relative prices
Resource misallocation · Investor protection · Optimal contracts · Portugal
Investor protection
Optimal contracts
Portugal
topic Macroeconomics
Investment rate
Relative prices
Resource misallocation · Investor protection · Optimal contracts · Portugal
Investor protection
Optimal contracts
Portugal
description The Portuguese economy has performed remarkably well since join- ing the EU in 1986. Output per worker grew at an annual rate of 2.25%. The relative price of investment has declined. Real investment has increased compared to output, in part fuelled by an increase in capital inflows. At the same time, resource allocation seems to have improved as well: firm-level data shows a significant decline in the dispersion of labor productivity and size across firms. This paper argues that improvements in outside investor rights that have taken place since Portugal joined the EU is a prime candidate to explain this set of facts.
publishDate 2009
dc.date.none.fl_str_mv 2009-08
2009-08-01T00:00:00Z
2018-06-11T14:05:30Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/15593
url http://hdl.handle.net/10400.5/15593
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Castro, Rui e Gian Luca Clementi (2009). "The economic effects of improving investor rights in Portugal". Portuguese Economic Journal, 8(2):59-97
1617-982X (print)
10.1007/s10258-009-0043-y
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Springer Verlag
publisher.none.fl_str_mv Springer Verlag
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
_version_ 1833601980666216448

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