OECD economic surveys : Portugal 1999 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD economic surveys.

OECD Economic Surveys

Language:

English

Subjects (All):

Economic history.

Portugal--Economic conditions.

Portugal.

Physical Description:

1 online resource (156 pages).

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1999]

Language Note:

English

Summary:

Assessment and recommendations I. Recent developments and prospects -The current cycle placed in perspective -Economic activity is slowing despite buoyant domestic demand -The unemployment rate has fallen and stabilised at a low level -The process of disinflation was interrupted in 1998, temporary factors having played a major role -The foreign balance has worsened -The short-term outlook is relatively favourable II. Macroeconomic policy -Monetary policy -Fiscal policy III. Financial sector reforms -The financial system before reforms -Objectives of the reforms -Nature of the reforms -Indicators of improved performance -Reasons for the success of reforms -EMU and other key challenges facing the Portuguese financial system -Policy issues IV. Structural policy developments -Employment measures -Improving the infrastructure and the climate for entrepreneurship -Enhancing product market competition -Reforming the health care sector Bibliography Annexes -I. Background information to Chapter III -II. Calendar of main economic events.

Contents:

Intro

Tables of Contents

Basic Statistics of Portugal

Assessment and recommendations

I. Recent developments and prospects

The current cycle placed in perspective

Table 1. Macroeconomic performance at a glance

Figure 1.Contributions to real GDP growth

Figure 2. Comparison of two cycles

Economic activity is slowing despite buoyant domestic demand

Table 2. Demand, output and prices

Table 3. Aggregate saving and investment

The unemployment rate has fallen and stabilised at a low level

Table 4. Labour market indicators

The process of disinflation was interrupted in 1998, temporary factors having played a major role

Figure 3. Inflation developments

Table 5. Wages and labour costs

Figure 4. Portugal's competitive position

The foreign balance has worsened

Table 6. Summary balance of payments

Current account balance

Figure 5. Foreign trade and the current account

Table 7.Current account of the balance of payments

Financial account

The short-term outlook is relatively favourable

Table 8. Short-term projections

II. Macroeconomic policy

Monetary policy

Monetary and exchange rate policies

Figure 6. Policy-controlled interest rates

Figure 7. Long-term interest rates

Credit and money aggregates

Figure 8. Monetary and credit aggregates

Monetary conditions

Figure 9. Monetary conditions indicator

Fiscal policy

Figure 10. Fiscal indicators

Table 9. General government nancial accounts

Developments in 1998

Table 10. Revenues and expenditure at different levels of the general government

Table 11. State tax receipts

Table 12. State expenditure

The 1999 budget

Public debt and debt management

Table 13. General government de cit and other transactions

Table 14. Total gross debt of the state sector

The 1999-2002 Programme.

Box 1. The EU's Stability and Growth Pact

III. Financial sector reforms

The financial system before reforms

Objectives of the reforms

Figure 11. Implementation of EU legislation

Nature of the reforms

Table 15. Main nancial reform measures

Indicators of improved performance

Efficiency of intermediation

Figure 12. Lending and deposit rates

Table 16. Interest rate differentials

Figure 13. Productivity and efficiency indicators

Figure 14. Electronic means of payment

Securitisation and internationalisation of markets

Figure 15. Assets of credit institutions

Table 17. Financial transactions of the nancial sector

Figure 16. Investment funds' assets

Figure 17. Insurance penetration indicators

Table 18. Portuguese capital market indicators

Table 19. European Union stock exchanges

Figure 18. Bonds outstanding

Figure 19. Indicators of internationalisation in the banking system

Size and structure of the financial sector

Table 20. Investment in nancial services

Table 21. Employment in nancial services

Figure 20. The structure of the banking system

Figure 21. Structure and performance of the financial system

Solvency and profitability of the financial system

Table 22. Commercial banks' income statement

Figure 22. Income, operating costs and return on equity

Figure 23. Number of employees and staff cost

Box 2. Prudential regulation and supervision issues

The conduct of monetary policy and macroeconomic performance

Figure 24. Money and credit aggregates

Figure 25. Saving ratios

Reasons for the success of reforms

EMU and other key challenges facing the Portuguese financial system&amp

norm

EMU start-up costs, technological change and securitisation

Box 3. The experience of Portugal with smart cards

Excess capacity and consolidation.

Pressures on profitability

Figure 26. Unit labour cost in banking

Policy issues

Box 4. Recommendations concerning the nancial sector

Prudential regulation and supervision issues

Figure 27. Household indebtedness

The process of restructuring in the banking industry

IV. Structural policy developments

Employment measures

Table 23. Implementing the OECD Jobs Strategy: an overview

Improving labour force skills and competencies

Figure 28. Education indicators in comparison

Raising labour market flexibility and facilitating labour mobility

Improving the ef[sp1c]ficiency of active labour market policies

Table 24. Expenditure on active labour market policies, 1997

Summing up

Improving the infrastructure and the climate for entrepreneurship

Enhancing product market competition

Figure 29. Electricity prices

Figure 30. Performance indicators in telecommunications, 1997-1998

Reforming the health care sector

Figure 31. Expenditure on health care

Table 25. The reform of the health care system: a synopsis

Place public health care institutions under pressure to provide cost-ef[sp1c]fective services

Improve the co-ordination and integration of public health institutions

Change the system of doctor&amp

rsquoe

s remuneration

Strengthen competition in private health provision

Induce households to use health services more economically

Reduce overlapping insurance coverage

Summary

Notes

Bibliography

Annex 1. Background information to Chapter III

The financial sector reform process

First phase (1984-1989): the increasing role of the private sector

Second phase (1990-1992): fast pace liberalisation

Third phase (since 1993): the single market in nancial services

Cross-country comparisons of the structure and performance of the nancial system.

Figure A.1. Bank branch density

Figure A.2. Concentration ratio

Figure A.3. Gearing ratio1

Figure A.4. Profitability ratio

Figure A.5. Financial margin

Figure A.6. Provision against losses

Annex II. Calendar of main economic events

BASIC STATISTICS: INTERNATIONAL COMPARISONS

BASIC STATISTICS: INTERNATIONAL COMPARISONS (cont'd)

Figures

Figure 31. Expenditure on health care.

Boxes

Box 1. The EU's Stability and Growth Pact

Tables

Table 15. Main financial reform measures

Table 20. Investment in financial services

Table 25.The reform of the health care system: a synopsis.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-16739-0

OCLC:

1132391784