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Portuguese Economic Development and External Funding in the Modern Era


Nuno Cunha Rodrigues is Associate Professor of the Faculty of Law of the University of Lisbon, specializing in Economic Law and EU Law.

Alice Cunha is Research Fellow at the Universidade Nova de Lisboa, where she works on European Integration.

In the Series
The Portuguese-Speaking World: Its History, Politics and Culture

After World War II, with the triumph of multilateralism, several international organizations were created, including two which would be of special importance for the external funding of the Portuguese economy in the second half of the twentieth century and in the early twenty-first. The European Union and the International Monetary Fund have been responsible for providing large amounts of funding, both in periods of economic development and during times of financial crisis.

This contributory volume provides a thorough analysis on specific case studies: the Marshall Plan (1949–1952); the three IMF interventions (in the seventies, eighties and the 2011 bailout); the implementation of the first EU funds Portugal received prior to accession; and the debate on the new framework for European funds for the period 2021–2027. These case study analyses provide an overview of the legal, economic and financial implications that such external funding has on the country at different times and in different economic contexts. Of particular import at all times is the public finance legal framework, and this is especially the case for the new European funding structures, which has attracted some criticism. And for any future IMF financial assistance and its political implementation implications.

Portuguese Economic Development and External Funding in the Modern Era provides important insights into economic development, crisis management, financial assistance and European investment funds. While the work is Portuguese-centered, the topics investigated and the means of analysis adopted are applicable to other countries. This is the first book to address economic development and external funding, and it will inevitably be used as a template for future research.

Hardback ISBN: 978-1-78976-132-0
Hardback Price: £75.00 / $89.95
Release Date: November 2021
Page Extent / Format: 264 pp. 229 x 152 mm
Illustrated: Yes


Series Editors' Preface  




Portuguese Economic Development and External Funding

in the Modern Era

Nuno Cunha Rodrigues and Alice Cunha


Chapter 1

Portugal and the Marshall Plan

Maria Fernanda Rollo


Chapter 2

Financing the Portuguese Democracy: The International

Monetary Fund and Other Creditors (1975–1979)

Luciano Amaral


Chapter 3

The IMF Intervention Process in Portugal between

1983 and 1985

João Zorrinho


Chapter 4

The European Communities Pre-accession Aid to Portugal:

a Dynamic Process

Paulo Alves Pardal


Chapter 5

The IMF in Portugal, 2011–2014: An Economic and

Political Analysis

Joaquim Ramos Silva





Chapter 6

The Impact of the 2011 Troika Intervention in Portugal 

on the National Legal Framework

Nuno Cunha Rodrigues


Chapter 7

EU Funds and Taxation: Lessons from Portugal in Times

of Covid

Guilherme Waldemar d´Oliveira Martins and Joana Graça Moura


Chapter 8

The International Monetary and Financial System and

the Right to Assistance from the International Monetary Fund

José Renato Gonçalves



Conclusion: External Funding and Portugal's Unstable


Ricardo Paes Mamede


The Editors and Contributors


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