Nationalizations and privatizations in Portugal during the last quarter of the 20th century : were they profitable to the state?

• Autor(a) principal: Valério, Nuno
• Data de Publicação: 2004
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.5/27163
• topic: Economic History; Economic Policy; Indemnities Paid; Nationalizations and Expropriations - 1975; Dividends; Privatizations Exceeded; Portugal

This text tries to assess the profitability of the nationalization and privatization processes that took place during the last quarter of the 20th century in Portugal from the point of view of the State accounts. It concludes that indemnities paid for nationalizations and expropriations carried on in 1975 were not a heavy burden to the Portuguese State, and that the present discounted value of dividends and revenue from privatizations exceeded the present discounted value of expenditure with indemnities for nationalizations and expropriations and subsidies to public enterprises. However, as revenue from privatization approaches exhaustion and net subsidies to public enterprises do not show a decreasing trend (public debt issued for indemnities of nationalizations and expropriations is now extinct), the future does not seem bright to the public exchequer in this fiel.