IESET.
Policies·portugal_imf_standby_1977_1978

Portugal Imf Standby 1977 1978

PRT·1974 1986candidate
movessectoral licensingproperty rightstrade openness~spending level~

What the policy did

Portugal's first IMF Stand-By Arrangement of June 1977 (around SDR 50 million) and the subsequent larger arrangement of June 1978 (about SDR 57 million) supported a balance-of-payments stabilisation under the Soares and Mota Pinto governments. Conditionality required escudo devaluation, ceilings on credit growth, public-sector wage moderation, fuel-price increases, and a tighter import-deposit regime. The intended effect was to halt the post-1974 external crisis, rebuild reserves, and impose a market-oriented adjustment on the heterodox economic settlement of the revolutionary period.

Policy-content fingerprint — what this policy moved, on which axes

Per invariant 3, reforms are scored by what they did on each channel-separated axis, not by the party that enacted them. This fingerprint is how the policy-match engine finds historical analogues.

intended
sectoral licensing
regulatory.sectoral_licensing
Sector-specific licensing regimes, concentration / quota allocation, state-controlled entry (energy, telecoms, healthcare, banking).
increased · weak
tighter sectoral licensing / more state gating
Import-deposit and exchange-control measures tightened administrative control over external transactions.
property rights
institutional.property_rights
Security of private property rights — formal recognition, expropriation risk, titling systems.
decreased · weak
weaker property rights
Programme operated within the existing nationalisation regime that constrained private-sector property.
~
trade openness
regulatory.trade_openness
Trade policy openness — tariffs, non-tariff barriers, FTAs, industrial protection.
mixed · weak
Devaluation favoured exports while import-deposit schemes restricted openness on the import side.
~
spending level
fiscal.spending_level
General government spending as share of GDP, excluding transfers already captured under fiscal.transfer_expansion to avoid double-counting.
mixed · weak
Credit ceilings and wage restraint pulled spending down while IMF financing accommodated a transition path.

Enacted by

Empirical evidence — linked hypotheses

Explicit links are curated by the author. Inferred links are hypotheses in the library that test the same axes this policy moved — the framework's answer to "what does the data say about a policy like this?".

Estonia adopted among the most radical market-liberalisation packages of any post-Soviet state — flat tax (26% universal rate, 1994), currency board (EEK pegged to DM/EUR, 1992), rapid privatisation, unilateral free trade, and minimal capital controls — and by 2007 had recovered to Soviet-era GDP per capita levels and substantially exceeded them, while Belarusian and Ukrainian peers had not recovered comparably.
estonia_market_reform_post_soviet_growth_1991_2007inferred
viaregulatory.trade_opennessinstitutional.property_rights
PARTIAL — recovery threshold pass=True (year_recovered=1998, 2007 vs 1991 = 70.53282727739165); Baltic−CIS gap pass=False (gap=5.1509956229348575)
partial
Singapore's long-run prosperity and frontier convergence are better predicted by extreme trade openness, strong rule of law, competitive product and services markets, and high economic freedom than by state ownership or industrial targeting alone.
singapore_state_capacity_market_openness_comboinferred
viaregulatory.trade_opennessinstitutional.property_rights
PARTIAL — coef=-0.0001143, p=0.713 (above α=0.1); direction inconclusive
partial
Across emerging-market and developing economies 1990-2020, higher expropriation risk — measured by ICRG expropriation risk index, Heritage investment-freedom score, and political-risk ratings — predicts shorter investment horizons (higher share of short-term investment, lower share of structures and machinery) and lower capital intensity in tradable sectors.
expropriation_risk_investment_horizoninferred
viainstitutional.property_rightsregulatory.trade_openness
PARTIAL — coef=-3.637, p=0.231 (above α=0.05); direction inconclusive
partial
Starting from comparable 1945 post-war conditions — same ethnicity, language, pre-war German institutional and industrial inheritance, and with the GDR inheriting a larger share of pre-war industrial capital in Saxony and Thuringia — the Federal Republic's Soziale Marktwirtschaft (Ordoliberal market economy with welfare state) versus the German Democratic Republic's planned economy with administered prices, state-enterprise production, and soft budget constraints produced by 1989 a canonical divergence that pattern-matches >=7 of 10 pre-registered extreme-outcome metrics, each drawn from a different publisher or methodology family.
west_east_germany_economic_system_divergence_1950_1989inferred
viainstitutional.property_rightsregulatory.trade_openness
INCONCLUSIVE_DATA_PENDING — no outcome variable loaded; missing: ['derived: count of canonical_metrics with threshold met']
run pending
Vietnam's post-Doi Moi economic growth (1986-2020) is more strongly associated with private-sector enterprise entry, trade openness, and market-oriented reforms than with state-owned-enterprise (SOE) expansion or continued state direction.
vietnam_doi_moi_private_sector_growth_shareinferred
viaregulatory.trade_opennessinstitutional.property_rights
SUPPORTED — coef=+0.001558 (sign matches claim +), p=0.0749
supported
Australia’s long expansion after the Hawke-Keating reforms (1983–1996) — including tariff cuts, financial deregulation, competition-policy introduction, and fiscal consolidation — is better predicted by market liberalisation than by sector-specific state direction.
australia_hawke_keating_reform_long_runinferred
viaregulatory.trade_opennessinstitutional.property_rights
PARTIAL — coef=-0.03935, p=0.076 (above α=0.05); direction inconclusive
partial
Canada’s long-run prosperity after the Canada–US Free Trade Agreement (1988) and NAFTA (1994) is more associated with market openness than with national industrial-policy initiatives.
canada_market_liberalisation_vs_state_industry_1988_2024inferred
viaregulatory.trade_opennessinstitutional.property_rights
INCONCLUSIVE_DATA_PENDING — treatment 'canada_post_1988' has no within-country variation under country fixed effects
run pending
East Asian high-performing economies (South Korea, Taiwan, Singapore, Hong Kong) achieved superior long-run total factor productivity and manufacturing productivity growth because export-market discipline forced competitive efficiency and technology upgrading, whereas economies that relied on protected domestic industrial policy without rigorous export exposure (Malaysia, Thailand in select sectors) experienced weaker long-run productivity.
east_asia_export_discipline_vs_domestic_protectioninferred
viaregulatory.trade_opennessinstitutional.property_rights
INCONCLUSIVE_DATA_PENDING — interaction term requested but no loadable constructed interaction variable is defined. The generic panel_fe runner would otherwise …
run pending

Similar historical policies

Ranked by axis-fingerprint overlap with this policy. Direction match bolded — those are the closest historical analogues. Shape of the match is what drives policy-outcome comparison, not the country or party label.