Abstract
Cooperation with the old colonizer would continue for decades, for trade, as well as for technical issues including computerization and training. All the newly-independent Portuguese-speaking countries in Africa developed mature financial systems comprising a central bank, with regulation and supervision functions over public and private commercial banks, insurance companies, and stock exchanges. Local political, financial, and technical elites framed new national macro-prudential financial systems in Africa.
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Notes
- 1.
“Quando se trata dos interesses nacionais nĂŁo contam os interesses ou as ambições de ninguĂ©m”, Diário de NotĂcias, 23 September 1962. “O Governo anuncia novas providĂŞncias para a unificação e o desenvolvimento da economia do espaço portuguĂŞs, Diário de NotĂcias, 26 August 1962.
- 2.
“Entram hoje em vigor as primeiras reduções aduaneiras relacionadas com a integração do espaço econĂłmico PortuguĂŞs”, Diário de NotĂcias, 15 August 1962. “Mais um passo decisivo para a integração do espaço PortuguĂŞs: A estrutura da Zona Monetária do escudo”, Diário de NotĂcias 3 Sptember 1962.
- 3.
New statutes for the bank were issued for a contract with central state. Decree-law 44,814 of 28 December 1962, Diário do Governo, nr. 297 of the same date.
- 4.
To match a net debt position of a territory, the agent of the system (Banco of Portugal) used gold and foreign currencies of the reserve account of this territory in Banco de Portugal, according to articles 28, 29 and 34 of decree-law 44,703 of 17 November 1962.
- 5.
By decree-law nr. 478/71 of 6 November 1971.
- 6.
New contracts were signed with these two banks for their role in the EZMU, approved by Decrees-law 44,891 and 44,892 of 20 February 1963, respectively. Banco de Portugal, Espeécie 7,201,002, 1. II, Designação 10, Espaço Económico Português, Contratos entre o Estado, Banco de Portugal, BNU, Banco de Angola, Comunicações ao Governador, AHBP.
- 7.
According to articles 29 and 35 of decree-law 44,703 of 17 November 1962.
- 8.
Cassis 2013, p. 757.
- 9.
Azevedo 2015.
- 10.
Bettencourt, F., Curto, Diogo R. 2007.
- 11.
Mata Costa, and Justino 2017: pp. 175–255.
- 12.
Redford 2017.
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Mata, M.E. (2020). Final Remarks: Conclusions. In: The Portuguese Escudo Monetary Zone. Palgrave Studies in Economic History. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-33857-2_14
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