Francisco Veiga is Professor of Economics at the School of Economics and Management at UMinho. Holding an undergraduate degree in Economic and Political International Relations from UMinho, and a Ph.D. in Economics from the University of South Carolina, he teaches and researches in the areas of Macroeconomics, International Monetary Economics, Political Economy, and Economic Growth.
He was president of the European Public Choice Society from April 2017 to April 2019, is a member of the Editorial Board of the European Journal of Political Economy, has several articles published in journals such as the Journal of Development Economics and the European Economic Review, and coordinated several research projects.
He was Dean of the School of Economics and Management, an elected member of the General Council of UMinho, director of the Economic Policies Research Unit (NIPE), of the Department of Economics, and the Ph.D., Master and undergraduate programs in Economics.
Among the consultancy tasks performed are studies for the European Court of Auditors, the Portuguese Directorate General of Local Authorities (DGAL), Secretary of State of Culture, for the firm Parque Escolar, E.P.E., and Associação Missão Crescimento.
Macroeconomics
International Monetary Economics
Economic Growth
Political Economy
Selected publications
Veiga, L. G., & Veiga, F. J. (2019). The Effects of Electoral Incentives on Fiscal Policy: Evidence from a Legislative Change at the Local Government Level. Journal of Law, Economics, and Organization, 35(2), 394–421. DOI
Morozumi, A., & Veiga, F. J. (2016). Public spending and growth: The role of government accountability. European Economic Review, 89, 148–171. DOI
Neto, D. G., & Veiga, F. J. (2013). Financial globalization, convergence and growth: The role of foreign direct investment. Journal of International Money and Finance, 37, 161–186. DOI
Aisen, A., & Veiga, F. J. (2008). The political economy of seigniorage. Journal of Development of Economics, 87(1), 29–50. DOI
Aisen, A., & Veiga, F. J. (2006). Does political instability lead to higher inflation? A panel data analysis. Journal of Money, Credit and Banking, 38(5), 1379–1389. DOI
Other publications
Lautenschlage, J., Veiga, L. G., & Veiga, F. J. (2024). The effects of fiscal policy management, candidacy of previous mayors, and illiteracy on mayoral reelection in Brazil. Economics and Politics, 36(3), 1345–1381. DOI
Veiga, F. J., Veiga, L. G., & Azevedo, B. C. (2024). Partisan Politics in Portugal. CESifo Economic Studies, 70(2), 193–215. DOI
Veiga, L. G., & Veiga, F. J. (2024). Finanças municipais no pós 25 de abril. In J. C. Ribeiro, M. Martins, & E. Rodrigues (Eds.), Nos 50 ano do 25 de abril: Memórias e Reflexões Sobre as Mudanças da Sociedade Portuguesa (pp. 141–161). Braga: Universidade do Minho. DOI
Veiga, F. J., & Veiga, L. (2023). Political budget cycles in Portuguese municipalities in the 21st century. In A. Teixeira, A. P. Delgado, L. Carvalho, M. I. Mota, & M. M. C. Silva (Eds.), Estudos de Homenagem a José da Silva Costa (1st ed.). Porto: Universidade do Porto. DOI
Veiga, F., Veiga, L., & Magalhães, P. (2023). O Parlamento e a opinião pública. In P. T. de Almeida (Ed.), O Parlamento Português (1st ed., Vol. IV - Democracia, pp. 243–264). Lisbon: Edições da Assembleia da República. DOI
Wang, X., Bohn, F., & Veiga, F. J. (2023). When do more selfish politicians manipulate less, not more? European Journal of Political Economy, 77(102320). DOI
Alexandre, F., Bação, P., & Veiga, F. J. (2022). The political economy of productivity growth. European Journal of Political Economy, 75. DOI
Bohn, F., & Veiga, F. J. (2021). Political forecast cycles. European Journal of Political Economy, 66, 101934. DOI
Boukari, M., & Veiga, F. J. (2021). Fiscal forecast manipulations and electoral results: evidence from Portuguese municipalities. Journal of Public Finance and Public Choice, 36(2), 115–138. DOI
Sochirca, E., & Veiga, F. J. (2021). Key determinants of elite rivalry: theoretical insights and empirical evidence. Applied Economics, 53(2), 277–291. DOI
Veiga, F. J. (2020). Instituições e o crescimento da economia portuguesa. In P. B. António Portugal Duarte Marta Simões & R. Morais (Eds.), Estudos de Homenagem a João Sousa Andrade (pp. 219–234). Coimbra: Almedina. DOI
Aguiar-Conraria, L., Magalhães, P. C., & Veiga, F. J. (2019). Transparency, Policy Outcomes, and Incumbent Support. Kyklos, 72(3), 357–380. DOI
Bohn, F., & Veiga, F. J. (2019). Elections, recession expectations and excessive debt: an unholy trinity. Public Choice, 180(3-4), 429–449. DOI
Bohn, F., & Veiga, F. J. (2019). Political opportunism and countercyclical fiscal policy in election-year recessions. Economic Inquiry, 57(4), 2058–2081. DOI
Veiga, L. G., & Veiga, F. J. (2019). The Effects of Electoral Incentives on Fiscal Policy: Evidence from a Legislative Change at the Local Government Level. Journal of Law, Economics, and Organization, 35(2), 394–421. DOI
de Lucas Bondezan, K., Veiga, F. J., & Dias, J. (2019). Institutions, government stability and human capital accumulation. Revista De Economia e Agronegócio, 17(2), 255–271. DOI
Boukari, M., & Veiga, F. J. (2018). Disentangling political and institutional determinants of budget forecast errors: A comparative approach. Journal of Comparative Economics, 46(4), 1030–1045. DOI
Goulart, P., Veiga, F. J., & Grilo, C. (2018). Public numbers on monetary valuation of fish landings. Data in Brief, 17, 184–188. DOI
Goulart, P., Veiga, F. J., & Grilo, C. (2018). The evolution of fisheries in Portugal: A methodological reappraisal with insights from economics. Fisheries Research, 199, 76–80. DOI
Veiga, F. J., & Veiga, L. G. (2018). Term limits and voter turnout. Electoral Studies, 53, 20–28. DOI
Veiga, F. J. (2017). Forecast Errors in Prices and Wages: The Experience with Three Programme Countries. Notas Económicas, 44(1), 7–24. DOI
Veiga, F. J., Veiga, L. G., & Morozumi, A. (2017). Political budget cycles and media freedom. Electoral Studies, 45, 88–99. DOI
Veiga, F., Veiga, L., Fernandes, B., & Martins, J. (2017). Limitação de Mandatos. Lisbon: Fundação Francisco Manuel dos Santos. DOI
Goulart, P., & Veiga, F. J. (2016). Portuguese 2015 legislative elections: How economic voting, the median voter and unemployment led to 'the times they are a'changin'? Electoral Studies, 43(Setembro), 197–200. DOI
Morozumi, A., & Veiga, F. J. (2016). Public spending and growth: The role of government accountability. European Economic Review, 89, 148–171. DOI
Martins, R., & Veiga, F. J. (2014). Does voter turnout affect the votes for the incumbent government? European Journal of Political Economy, 36, 274–286. DOI
Martins, S., & Veiga, F. J. (2014). Government size, composition of public expenditure, and economic development. International Tax and Public Finance, 21(4), 578–597. DOI
Veiga, F. J. (2014). Instituições, estabilidade política e desempenho económico - implicações para Portugal. In F. Alexandre, P. Bação, P. Lains, M. M. F. Martins, M. Portela, & M. Simões (Eds.), A Economia Portuguesa na União Europeia: 1986-2010 (pp. 287–310). Coimbra: Actual Editora. DOI
Veiga, F. J., Cruz, F. C., & Veiga, L. (2014). Cooperação Territorial Europeia e Cultura. Lisbon: Principia. DOI
Veiga, F. J., carballo-Cruz, F., & Veiga, L. G. (2014). Cooperação Territorial Europeia e Cultura em Portugal. Revista Lusófona De Estudos Culturais, 2(2), 103–130. DOI
Aisen, A., & Veiga, F. J. (2013). How does political instability affect economic growth? European Journal of Political Economy, 29, 151–167. DOI
Martins, R., & Veiga, F. J. (2013). Economic performance and turnout at national and local elections. Public Choice, 157(3-4), 429–448. DOI
Martins, R., & Veiga, F. J. (2013). Economic voting in Portuguese municipal elections. Public Choice, 155(3-4), 317–334. DOI
Neto, D. G., & Veiga, F. J. (2013). Financial globalization, convergence and growth: The role of foreign direct investment. Journal of International Money and Finance, 37, 161–186. DOI
Veiga, L. G., & Veiga, F. J. (2013). Intergovernmental fiscal transfers as pork barrel. Public Choice, 155(3-4), 335–353. DOI
Aidt, T. S., Veiga, F. J., & Veiga, L. G. F. (2011). Election results and opportunistic policies: A new test of the rational political business cycle model. Public Choice, 148(1-2), 21–44. DOI
Veiga, F. J., & Veiga, L. G. F. (2010). The impact of local and national economic conditions on legislative election results. Applied Economics, 42(13), 1727–1734. DOI
Aisen, A., & Veiga, F. J. (2008). Political instability and inflation volatility. Public Choice, 135(3-4), 207–223. DOI
Aisen, A., & Veiga, F. J. (2008). The political economy of seigniorage. Journal of Development of Economics, 87(1), 29–50. DOI
Veiga, F. J. (2008). Why do stabilizations fail? Journal of Economic Policy Reform, 11(2), 135–149. DOI
Aisen, A., & Veiga, F. (2007). Da li politička nestabilnost vodi ka višoj i promenljivijoj inflaciji? Analiza panel podataka. Panoeconomicus, 1, 5–27. DOI
Veiga, L. G. F., & Veiga, F. J. (2007). Does opportunism pay off? Economics Letters, 96(2), 177–182. DOI
Veiga, L. G. F., & Veiga, F. J. (2007). Political business cycles at the municipal level. Public Choice, 131(1-2), 45–64. DOI
Veiga, L. G., & Veiga, F. J. (2007). Economics, Popularity and Vote Intentions in Portugal: A Longitudinal Analysis with Aggregate Data. In A. Freire, M. C. Lobo, & P. Magalhães (Eds.), Portugal at the Polls: in 2002 (pp. 75–99). Plymouth – UK: Lexington Books. DOI
Aisen, A., & Veiga, F. J. (2006). Does political instability lead to higher inflation? A panel data analysis. Journal of Money, Credit and Banking, 38(5), 1379–1389. DOI
Coelho, C., Veiga, F. J., & Veiga, L. G. F. (2006). Political business cycles in local employment: Evidence from Portugal. Economics Letters, 93(1), 82–87. DOI
de Freitas, M. L. L., & Veiga, F. J. (2006). Currency substitution, portfolio diversification, and money demand. Canadian Journal of Economics, 39(3), 719–743. DOI
Veiga, F. J. (2005). Does IMF support accelerate inflation stabilization? Open Economies Review, 16(4), 321–340. DOI
Veiga, L. G., & Veiga, F. J. (2005). Eleitoralismo nos Municípios Portugueses. Análise Social, XL (177), 865–889. DOI
Castro, V., & Veiga, F. J. (2004). Political business cycles and inflation stabilization. Economics Letters, 83(1), 1–6. DOI
Veiga, F. J., & Veiga, L. G. (2004). The Determinants of Vote Intentions in Portugal. Public Choice, 118(3-4), 341–364. DOI
Veiga, F. J., & Veiga, L. G. F. (2004). Popularity functions, partisan effects, and support in parliament. Economics and Politics, 16(1), 101–115. DOI
Veiga, L., & Veiga, F. (2004). Economia, Popularidade e Intenções de Voto em Portugal: uma Análise Longitudinal com Dados Agregados. In A. Freire, M. C. Lobo, & P. Magalhães (Eds.), Portugal a Votos: Eleições Legislativas de 2002 (pp. 125–157). Lisboa, Portugal: Imprensa das Ciências Sociais, Instituto de Ciências Sociais da Universidade de Lisboa. DOI
Veiga, F. J. (2000). Delays of Inflation Stabilizations. Economics and Politics, 12(3), 275–295. DOI
Veiga, F. J. (1999). What causes the failure of inflation stabilization plans? Journal of International Money and Finance, 18(2), 169–194. DOI
International Monetary Economics
Bachelor
Portuguese and European Economics
Bachelor
Macroeconomics I
Bachelor
Research Methodology and Proposal in Economics
Master
Macroeconomic Policies
Master
