The Portuguese development plans in the postwar period: How much was spent and where?

Ricardo Ferraz
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Ricardo Ferraz: ISEG, Lisbon School of Economics and Management, University of Lisbon and Centre of Research into Economic and Social History, Lisbon, Portugal

Investigaciones de Historia Económica - Economic History Research (IHE-EHR), Journal of the Spanish Economic History Association, 2020, vol. 16, issue 01, 45-55

Abstract: After the Second World War, Portuguese decision-makers began to produce planos de fomento (development plans). The conclusions reached using unique historical data show that the Portuguese nation spent roughly 211 million contos on development plans in the period from 1953 to 1974. Approximately three quarters of this amount (which at today’s prices and in today’s currency is equivalent to €50.4 billion, i.e. 26.1% of the current Portuguese GDP) were spent in the metropolis; while the remaining quarter was spent in the overseas provinces. Based on the estimation of a linear regression model, it was also possible to identify a positive relationship between this expenditure and the extraordinary growth of the Portuguese economy during the Golden Age. It is hoped that this research can make a valuable contribution to the economic history of the twentieth century and provide a useful tool for future research KEY Classification-JEL: E65; N14, O10; 025

Keywords: Planes; de; desarrollo.; Gasto; público.; Metrópoli.; Provincias; de; ultramar (search for similar items in EconPapers)
Date: 2020
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