SOAS University of London

Department of Economics

Victoria Stadheim

BA (Oslo) MSc (SOAS)
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Victoria Stadheim
Victoria Stadheim
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Thesis title:
Portugal in the crisis: the reconfiguration of a national economy (working title)
Year of Study:
Year of Entry: 2012 - 2013
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PhD Research

The PhD analyses the restructuring of the Portuguese economy in the context of the current economic crisis. The Memorandum of Understanding that the Portuguese government signed in 2011 in order to receive a bailout from the  European Commission, the European Central Bank and the International Monetary Fund implied thorough economic reforms through fiscal adjustment, changes in asset ownership and labour regulation, which together have come to re-shape the structure of the Portuguese economy. The PhD critically engages with mainstream, Keynesian and other heterodox explanations of the crisis as well as their policy recommendations. It approaches the crisis from a political economy perspective and analyses how key sectors in Portuguese society, including finance, industry, small and medium scale enterprises, employees and consumers are affected by austerity measures. The research is informed by a historical perspective and looks at the social and economic transitions that took place in parallel with the process of European integration from the mid-1970s. Key issues include discussions about the restructuring of production and employment, the role of the euro and its implications for Portugal’s monetary policies and balance of payment, and the process of financialisation.