Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/330474 
Year of Publication: 
2022
Citation: 
[Journal:] Essays in Economic & Business History (EEBH) [ISSN:] 2376-9459 [Volume:] 40 [Issue:] 1 [Year:] 2022 [Pages:] 233-264
Publisher: 
Economic and Business History Society (EBHS), Rockford, MI
Abstract: 
An extensive literature praises economic integration and monetary unions as powerful means for economic convergence between, and the growth of, nations. Several potential factors have been flagged for successful economic convergence, such as labor availability and mobility and the role of initial levels of development (for positive business contagion effects). However, the relevance of this literature can be read differently in the context of a failed monetary union: the Escudo Zone Monetary Union (EZMU, 1963-1971), where policies key for sustainability were in place. This article investigates the operation of the EZMU and examines the important factors in its demise, thereby contributing to the discussion of (un)sustainability of convergence and economic integration.
Subjects: 
economic integration
Escudo Zone Monetary Union
monetary unions
Portugal
Portuguese colonial empire
JEL: 
N10
N17
N20
N24
N27
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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