The Legacies of Revolution: Path-Dependence and Economic Performance in Portugal

This article examines how Portugal's revolutionary legacies have affected the country's economic performance in the years prior to the global financial crisis, from 1999 to 2007. The main argument is that the distinctiveness of the country's pathway from dictatorship to democracy, coupled with other crucial features of its recent political past, helped to set the stage for the subsequent economic challenges that the country experienced following accession to European Monetary Union in 1999.