This book offers insights into the behaviour of the Portuguese economy in relation to economic growth from the twentieth century to the present. How did the 1891-92 crisis and World Wars impact Portugal economically? How did the Portuguese economy behave during the 'Golden Age' of economic growth in postwar Europe? What have the effects of the European Monetary Union been? Amaral examines long-running trends in the development of the modern Portuguese economy in order to help us understand various growth phases of the modern period. This title is important reading for economic historians and economists researching economic growth, crises, stablisation and monetary unions.