Public Finances of a European Dictatorship
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A01=Ricardo Ferraz
Alberto Salazar
Author_Ricardo Ferraz
authoritarian fiscal management
Budget balance
Category=KCC
Category=KCL
Category=KCP
Category=KCZ
Category=KFCP
Category=KFFD
Category=NHD
comparative macroeconomic analysis
economic reconstitution law
eq_bestseller
eq_business-finance-law
eq_history
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Estado Novo
Financial history
Fiscal policy
fiscal sustainability under dictatorship
History of public finance
Public debt
public debt history
Public economics
Salazar regime economics
wartime economic policy
Product details
- ISBN 9781032842868
- Weight: 530g
- Dimensions: 156 x 234mm
- Publication Date: 28 Nov 2025
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Hardback
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Contributing to the renewed interest in economic history in the role played by peripheral or smaller countries, this book provides a detailed analysis of Portuguese public finances during the Estado Novo regime (1933–1974) – a period marked by dictatorship, industrialization, internationalization, and war. In this book, relevant international comparisons for key macroeconomic indicators are drawn to contextualize the Portuguese case within global settings. Additionally, employing econometric techniques, the sustainability of public finances is assessed across a range of countries, enabling valuable insights for the Portuguese case within a comparative framework. Within Portugal, as the book shows, this period, largely under the dictatorship of Salazar, was characterized by the very first attempt to plan economically in the long term, with the Economic Reconstitution Law (1935–1950). Following the Second World War, and Portugal’s so-called collaborative neutrality, the Portuguese economy experienced a process of industrialization and internationalization, but this culminated in the Colonial War (1961–1974) with blood and tears. The book explores the sources of revenue and expenditure for the Portuguese State during these periods of transformation and crisis and the impact on budget balance and public debt. The book will be of interest to all readers in economic and financial history.
Ricardo Ferraz is a researcher at ISEG Research and RCM2+, and also a Visiting Assistant Professor at Lisbon School of Economics & Management (ISEG, University of Lisbon) and Lusófona University.
