This book offers insights into the behaviour of the Portuguese economy in relation to economic growth from the twentieth century to the present. How did the 1891-92 crisis and World Wars impact Portugal economically? How did the Portuguese economy behave during the 'Golden Age' of economic growth in postwar Europe? What have the effects of the European Monetary Union been? Amaral examines long-running trends in the development of the modern Portuguese economy in order to help us understand various growth phases of the modern period. This title is important reading for economic historians and economists researching economic growth, crises, stablisation and monetary unions.

Luciano Amaral is Associate Professor at the Nova School of Business and Economics, Lisbon, Portugal. His recent research interests include economic growth in Portugal during the Golden Age (1950-1973) and banking in Portugal.

Chapter 1: Introduction.- Chapter 2: The 1891-92 Crisis and Beyond.- Chapter 3: World War I and the 1920s Financial Crisis.- Chapter 4: The Estado Novo period: The 1930s and World War II.- Chapter 5: The Estado Novo period after World War II: The golden age of economic growth (1946-1973).- Chapter 6: The 1973 crisis, the 1974 revolution and their effects on the Portuguese economy (1973-1985).- Chapter 7: The European period (1986-2017).- Chapter 8: Conclusion: Some general topics - Government, openness and external imbalance.