Maria Eugénia Mata 
The Portuguese Escudo Monetary Zone [PDF ebook] 
Its Impact in Colonial and Post-Colonial Africa

This monograph examines the failure of the Portuguese Escudo Monetary Zone and the birth of new monetary and financial systems in Portuguese-speaking African countries. Examining colonial and post-colonial times, Mata analyses the decision to build a Portuguese monetary area in the early 1960s and mid-1970s when the decolonisation process was peaking.






This book offers some important lessons regarding the functioning and dismantling of monetary areas, and on the importance of central-banks’ co-operation.

Table of Content

Chapter 1: Introduction: Why to Study “The Portuguese Escudo Monetary Zone and its Impact in Colonial and Post-Colonial Africa”.- Part I. The Origin of the Escudo Monetary Zone.- Chapter 2: The Escudo Monetary Zone.- Chapter 3: The Difficulties in launching the Escudo Monetary Zone.- Chapter 4: War, Confidence, and Expectations. Adjusting the Rules of the Escudo Monetary Zone.- Part II. The Transition to a Revised Escudo Monetary Zone.- Chapter 5: The Heritage from the 1963–1968 Period. Marcelo Caetano and the Decision of Asking for Studies.- Chapter 6: The Technical and Political Discussion of the Escudo Zone Problems, and the Reform of 1971.- Chapter 7: The results of the 1971 Reform of Escudo Monetary Zone Union. The Angolan and Moçambican Divergence.- Part III. The End of the Revised Escudo Monetary System.- Chapter 8: Decolonisation and Independence Agreements. Retornados and difficulties of the Banking System.- Chapter 9: The Genesis of the New Currency Units and Banking Systems in the Portuguese-Speaking African Countries. The Co-operation with Portugal.- Chapter 10: The End of the Escudo Zone Monetary Fund in 1980. The continuation of co-operation.- Part IV. Co-operation from Independences to the End of the Millenium.- Chapter 11: The New Currencies in the West-African Portuguese-Speaking

Countries and the Portuguese Co-operation.- Chapter 12: The Angolan Kwanza and the Portuguese Co-operation.- Chapter 13: The Mozambican Metical and the Portuguese Co-operation.- Chapter 14: Final Remarks: Conclusions.

About the author

Maria Eugénia Mata is Associate Professor at the Faculty of Economics at Nova University Lisbon, Portugal. Her research interests include Economic, Business and Financial History, and the History of Economic Thought. Mata is an Ex-President of the Portuguese Economic and Social History Association.