Portugal is experiencing a slowdown of productivity growth, similar to the one occurring in advanced economies. Given that aggregate productivity growth is the main source of per capita income growth, this slowdown is associated with a slower improvement of living standards. In a neoclassical world, Portugal, poorer than most developed economies, would be expected to converge both in the level of productivity and in the average wealth of the population.

A number of hypotheses my explain why this is not happening: a decline in the birth rate of innovative firms able to deal with greater regulatory complexity, insufficient investment in infrastructure, equipment, R&D and information and communication technology, a slower pace of technology diffusion, non-competitive product markets and capital misallocation, rigid labour markets leading to skills and labour mismatches or insufficient knowledge – based and human capital accumulation.

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This paper shows that entrepreneurial human capital is a key driver of firm dynamics using administrative panel data on the universe of firms and workers in Portugal. Firms started by more educated entrepreneurs are larger at entry and exhibit higher growth throughout the life cycle. The differences are driven by productivity, are particularly strong in the upper tail of the distribution, and do not hold for more educated workers in general. In addition, they do not appear to be driven by omitted ability or selection. Combining these findings with cross-country data to calibrate a simple model of heterogeneous firms, I find that accounting for the effect of entrepreneurial human capital on firm-level productivity increases the fraction of cross-country income differences explained by human and physical capital from 40% to 65%-76%.

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This paper provides empirical evidence showing that industries with intense strategic complementarities exhibit stronger sensitivity to economic shocks. The Portuguese credit crunch of 2009 represents a negative shock for nonfinancial firms, which has created negative spillover effects among firms. Corporate investment declines significantly in industries with strong strategic complementarities following the onset of the crisis, controlling for firm fixed effects, time varying measures of financial constraints and investment opportunities. Consistent with a causal effect, the decline is greatest for firms in industries with strong strategic complementarities. To address sample selection concerns we consider several sample splits and apply a matching approach to find the best counterfactual, and confirm similar results.

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O objetivo deste relatório consiste na estimação dos impactos sobre a despesa, o valor acrescentado bruto, o emprego e os impostos resultantes da realização da Web Summit em Portugal. Para tal será utilizada uma abordagem baseada em metodologias comummente aplicadas à análise de impactos de eventos de grandes dimensões, de natureza diversa, sobre a atividade económica do território de influência.

Eventos como a Web Summit, para além dos impactos que a prazo possam vir a gerar em vários sectores de atividade e na reconfiguração da economia, envolvem um volume significativo de meios cujos efeitos no curto prazo poderão ser significativos, não só ao nível local mas também a nível macro, através do estímulo da procura interna da economia. Assim, a avaliação destes eventos pode ser encarada de diferentes pontos de vista, em função dos horizontes temporais em que se manifestam os impactos, das variáveis afetadas, das metodologias empregues e, inclusivamente, dos impactos que, em cascata, possa gerar noutros sectores, para além dos sectores tecnológico ou do turismo.

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As services today are of great complexity and usually a bundle of different individual inputs, it is sometimes hard to identify characteristics for the overall service sector. As such, empirical research on productivity is less common in this sector. Given the connection between Total Factor Productivity (TFP) and economic growth, and the importance of services for overall economic activity, it is crucial to study, at the firm level, which factors may drive TFP growth in this particular sector. Our empirical assessment is based on a firm-level panel dataset covering Portuguese service firms, between 2010 and 2016. We first estimate TFP through the Levinsohn-Petrin (LP) algorithm and compare results amongst different traditional estimating methods. Secondly, we conclude our econometric framework with a fixed-effects estimation, hence, trying to shed further light on the determinants of TFP growth in the Portuguese service sector. We found evidence for a positive correlation between financial health, innovation, wage premium, and TFP growth, whereas capital intensity, training, and age show a non-linear relationship with TFP growth.

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O presente estudo tem o objetivo de caracterizar um setor considerado estratégico na economia nacional, tendo em conta os seus contributos na produção, no emprego e nas exportações portuguesas: a Indústria Automóvel.
Não se pretende uma análise exaustiva sobre as especificidades do setor nem é extensível ao atual conceito de cadeia de valor. Pretende-se, acima de tudo, que seja encarado como contributo para uma análise mais aprofundada do setor e das suas potencialidades e fragilidades, de forma a promover o debate sobre as políticas públicas atuais e vindouras, com vista ao crescimento da economia.

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O presente estudo visa caracterizar a atividade do Comércio a Retalho4 em Portugal, procurando-se analisar, com algum detalhe, o segmento do Comércio Local e de Proximidade, cujos padrões têm vindo a sofrer mutações, não só ao nível do perfil dos consumidores mas também da oferta de produtos e de novos conceitos.

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Neste trabalho pretende-se analisar, relativamente aos principais mercados de destino das exportações portuguesas de mercadorias em 2017, a evolução das respetivas quotas de mercado globais ao longo dos últimos cinco anos (2013 a 2017), bem como o ritmo da variação nominal anual dos fornecimentos portugueses face à evolução das importações globais no seio de cada um dos mercados.

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