Capitalism, development, and democracy
Adam Przeworski
Capitalism is a necessary but not a sufficient condition for democracy. This relation is historically contingent. It is true that democracy tends to prevail in the most developed capitalist countries. But this is not because capitalist development breeds democracy. The reason is that once democracy is present in wealthy societies, everyone has too much at stake to risk a struggle for dictatorship.
Vol.24, n.o4(96), 2004
O preço da riqueza
Ademar Ribeiro Romeiro
The paper reviews the work of E. Altvater dealing with the challenges of the environmental depletion to humankind survival. It shows the logic of its analytical structure, built to demonstrate its central thesis: growing environmental problems are inherent to capitalism development, leading to a sharp division between a small number of countries with high levels of natural resources consumption and the others, poor ones, destined to play a role as natural resources reserves for the former. The paper argues about the validity of the hypothesis of this analytical model. It assumes as true only the first one, on the impossibility to diffuse all over the world the euro-american production and consumption patterns without causing an environmental disaster. The other ones are viewed either as lacking empirical evidence or more solid arguments.
Vol.17, n.o3(67), 1997
Banks, Domestic debt intermediation and confidence crises: the recent brazilian experience
Afonso S. Bevilacqua e Márcio G. P. Garcia
This paper examines the recent evolution of the Brazilian public domestic debt and interprets it in light of the confidence crisis literature. The analysis of the recent developments in the Brazilian public domestic debt market shows that the likelihood of a default must not be assessed only using simple summary aggregate measures of public domestic debt size and maturity, but must also take into consideration other structural aspects. Our analysis emphasizes the two main pillars of the Brazilian public domestic debt market: home-bias and the role of the banking sector in intermediating the debt. Evidence from yields of a “perfectly” indexed bond shows that the rollover premium was very small when the devaluation occurred, and is still fairly small by October, 1999, indicating that the rollover of the public domestic debt has not, so far, constituted a serious problem. Positive prospects for the public domestic debt market will depend, however, on the Brazilian government maintaining the current fiscal austerity program.
Vol.22, n.o4(88), 2002
'TINA', AIDS, and the underdevelopment problem in Africa
Akinpelu O. Olutayo, Molatokunbo A. O. Olutayo e Ayokunle O. Omobowale
The assumption that ‘There Is No Alternative’ (TINA) to capitalism as practiced in the United States of America and Western Europe has been the bane of aids effectiveness in assisting to solve the underdevelopment problem in Africa. This paper attempts to show that except there is a fundamental reorientation in the conceptualization of capitalism-free market and democracy-the underdevelopment problem would only be further complicated with aids.
Vol.28, n.o2(110), 2008
Economia da informação, redes eletrônicas e regulação: elementos de análise
Alain Herscovici
“Information Economics, electronic networks and regulation: elements of analyze.” This paper aims at analyzing the different components of the so-called new economy. The first part, essentially theoretical, deals with the various conceptions on both the nature and role of information in the working of markets. The second part shows the microeconomic characteristics of electronic networks, evaluating its competitive properties. In the third part, after having outlined the current accumulation regime, the relationship between networks development and the implementation of a new mode of regulation are discussed. As regards this matter, alternative interpretations of Solow paradox are offered.
Vol.24, n.o1(93), 2004
O problema da dívida e a nova fase da crise mundial
Alain Lipietz
This article deals with the phases and problems in the crisis of transition from “Fordism” to a new order and a new growth model for the world economy. The two different responses to the productivity fall problems — radical reduction of labor costs or a new social contract — are pointed as determinants of the crisis evolution and, in special, of the development of the american commercial deficit and Treasury debt, and the third world debt. It is shown that the solution by debt payment is not viable, and that macroeco-nomic logic leads to the devaluation as the adequate response. Ethical, political and technical problems of this scheme are analyzed indicating that more probably the debt devaluation will be combined with a readjustment of the export flux of the United States and the Third World against Europe and Japan. Finally, the possibilities of a significant european contribution to this readjustment are discussed. It is argued that, for this to occur, a common social policy for Europe must be adopted before the 1992 unification.
Vol.9, n.o4(36), 1989
El éxito del Mercosur posible
Aldo Ferrer
The success of the possible Mercosur. Mercosur can be observed from two different perspectives. One from an ideal integration project, whose reference is the European Union. The other, based in the profound prevailing asymmetries within the region and the progress achieved since the founding bilateral agreements of presidents Alfonsin and Sarney, in 1985. From the first perspective, Mercosur in a failure; from the second, it has achieved considerable success. The integration process is displayed in three levels: the national density prevailing in the member countries, the rules of the game of the system and the common standings vis a vis the rest of the world. The future of Mercosur depends on progress achieved in these three levels and the opening of new possibilities of national development for each member country in a regional framework.
Vol.27, n.o1(105), 2007
O milagre irlandês como exemplo da adoção de uma estratégia nacional de desenvolvimento
Alexandra Strommer de Farias Godoi
The Irish miracle as an example of the adoption of a national development strategy. This paper discusses the Irish experience in the 90s, and details the main aspects of the impressive and rapid transition from a situation of excessive indebtedness, economic stagnation and high unemployment to sustainable growth. The presence of a national development strategy seems to be the crucial institutional tool that allowed this transition.
Vol.27, n.o4(108), 2007
Rendimentos Crescentes e a Distribuição internacional de renda
Alexandre De Zagottis
Increasing returns and the international distribution of income. The existence of increasing returns in high technology industries assigns a path dependent character to the international division of labor. Rich countries, first entrants in these industries, enjoy permanent advantages that prevent, in a free market environment, the development of such industries in middle-income countries. This dynamics allows the former group of countries to experience a higher growth rate of labor productivity than the latter, and, as a result, increases the gap between the workers’ standard of living in these countries. It is up to the States of middle-income countries the task of devising development strategies capable of breaking such pattern and improving the international distribution of income.
Vol.28, n.o3(111), 2008
Estado e economia na Coreia do Sul - do estado desenvolvimentista à crise asiática e à recuperação posterior
Alexandre Queiroz Guimarães
The State and the economy in South Korea: from the developmentist state to the Asian crisis and later recovery. The article focuses on the institutions of South Korean capitalism and on the interactions between the state and the economy. The economic model in South Korea was characterized by a very interventionist state, which played a very active role in the process of industrialization. However, South Korea suffered a severe crisis in 1997, attributed by many authors to the distortions inherent to strong state intervention. The article shows that the crisis was a result of the combination between internal economic fragilities and a rapid process of financial deregulation, which undermined the state`s capacity of control. The crisis, nevertheless, does not disqualify the role of the national institutions in the very successful process of industrialization. Despite the reforms, the Korean capitalism conserves much of the previous model of business organization and industrial relations. The state continues strong and played active role in the process of economic reforms. There are, nevertheless, doubts about the impacts of the reforms and the new configuration of Korean capitalism. They will depend on the current transformations in world economy and in the East Asian countries.
Vol.30, n.o1(117), 2010
Historical origins of Brazilian relative backwardness
Alexandre Rands Barros

 This paper relies on some data to identify the XIX century as the major period in which Brazil Economy lagged behind some chosen benchmarking countries, as the USA, Canada, New Zealand, Australia and some European periphery countries. To identify the reasons for this an exercise using immigration data was used to make a decomposition of the sources of growth of the Proportion of the USA per capita GDP to the Brazilian one. The results indicate that the imported human capital was responsible for 59% to 88% of this total growth between 1820 and 1900. 

Vol.35, n.o1(138), 2015
Raízes históricas das idéias que subsidiam as políticas de Clustering
Alexandre Rands Barros
This paper shows the basic conceptions of the underlining ideas supporting clustering policies and explains their origins and justifications, for playing an important role on economic development. It is argued that, although they were fostered while liberal ideas were hegemonic, the concepts that give support to clustering policies are not based on this ideology only. They also seek support from ideas that accept public interventions on the economy. This means that one of the most efficient strategies to promote economic development nowadays has skeptical attitudes in relation to several liberal precepts.
Vol.22, n.o1(85), 2002
Historical sources of brazilian underdevelopment
Alexandre Rands Barros
Neste trabalho mostra-se que o Brasil já entrou no século passado com atraso em relação aos países desenvolvidos. As três principais visões para explicar esse fato são revistas e uma quarta, baseada em desenvolvimentos teóricos recentes, é apresentada. Essa visão explica o atraso da economia brasileira pela composição de suas classes sociais, as raízes históricas destas e as suas inter-relações.
Vol.16, n.o2(62), 1996
Towards a pro-poor development strategy for middle-income countries: a comment on Bresser-Pereira and Nakano
Alfredo Saad Filho
This paper draws upon Bresser-Pereira and Nakano (2003), in order to outline a pro-poor growth strategy for middle-income countries. This strategy avoids the pitfalls of the neoliberal model implemented in several countries in the aftermath of the 1982 international debt crisis, and is conducive to income distribution and sustainable growth simultaneously.
Vol.24, n.o1(93), 2004
Capitalismo monopolista de estado: um ponto de vista crítico
Aloísio Teixeira
The article analyzes the concept of state monopoly capitalism and its application to the current stage of capitalism in Brazil. The first part surveys the theoretical literature, from Lenin’s original formulation to recent developments bu French and Soviet authors, and sums up the main criticism to the concept. It suggests also the emphasis on the capital internalization process as an alternative analytical approach for the understanding of modern capitalism. In the second part, the article questions those authors who consider that the concept of state monopoly capitalism provides an ade-quate framework for the analysis of Brazilian capitalism.
Vol.3, n.o4(12), 1983
O Brasil num cruzamento: dívida externa e exaustão fiscal
Álvaro Antonio Zini Jr.
The debt crisis caused a major setback in Brazil’s economic development in the 1980s. Stabilization policies based on contracting aggregate demand have produced an overall stagnant economic performance that alternates periods of recession with periods of growth cum rampant inflation. The attempts of adjustment have implied a near exhaustion of the public sector finances and have added distortions in the pattern of financing the economy. While the “transfer problem can be potentially settled on the real side, on the fiscal side obstacles are real and may indeed lead to stagnation in the 1990s. This paper suggests a concerted action to promote growth; one that involves a stimulus to the production of tradeables through an investments policy and a new approach to commercial and the exchange rate policies, and a refunding of the domestic and the external debts of the public sector to help solve the financial disarray of the Government.
Vol.10, n.o1(37), 1990
Weber e Schumpeter: a ação econômica do empreendedor
Ana Cristina Braga Martes
Weber and Schumpeter: the Economic action of the entrepreneur. Is there any specificity to be raised in the relations established between entrepreneurs and institutions? Recently, the term entrepreneurship is being widely employed. Enterprising is not anymore a restricted activity to the private sector, but also the Third Sector and the Public Administration. It does not only circumscribe the space of innovation, but also of the adapting changes. In this sense, such elastic concept runs the risk to lose consistency. It seems to be appropriate, therefore, to rescue the meaning that many authors, considered classic in Social Sciences, had attributed to the subject, to show that, although deep socioeconomic transformations occurred since Schumpeter wrote the Theory of the Economic Development, is still necessary to emphasize a basic dimension of the enterprising action: resistance and institutional conflict.
Vol.30, n.o2(118), 2010
A Argentina depois da conversibilidade: um caso de novo-desenvolvimento?
André Moreira Cunha e Andrés Ferrari
Argentina post-convertibility: a new developmentalism case? This paper analyses the economic recovery in post-Convertibility Argentina. We try to identify if there are evidences to support the suggestion that Argentina could be an example of the so-called “new developmentalism”.
Vol.29, n.o1(113), 2009
Os impactos da liberalização comercial sobre o padrão de comércio exterior brasileiro
André Nassif
Nota: Esta é uma versão mais ampla do artigo impresso, onde constam todas as tabelas.
This paper analyses the main effects of the Brazilian trade liberalization on the technical efficiency of the manufacturing industry and the trade pattern. The principal empirical findings suggest the following results for the 1990´s: i) expressive gains in labor productivity and reduction of the average real costs for most sectors of the manufacturing industry between 1988 and 1998; ii) the trade pattern were mostly driven by import changes; iii) on average, industries which showed the greatest gains in technical efficiency did not translated them into competitiveness gains in the global markets; and iv) on average, there were dynamic efficiency losses once, on the first hand, major gains in international competitiveness were located in the traditional sectors and, on the other hand, industries that made the major investments in Research and Development (R & D) were the same that had significant sectoral trade deficits throughout the 1990´s.

Vol.25, n.o1(97), 2005
The real mechanisms of the global economy
Angel Asensio
The paper presents the main arguments of Bresser Pereira's Globalization and Competition. Development strategies based on the 'conventional orthodoxy' are shown to carry serious drawbacks (“Dutch disease”, pernicious effects of external saving, currency overvaluation), while a 'new developmentalism' is promoted, in spite of the widespread belief that the nation-states have been dispossessed of their room for manoeuvre because of the globalization process. The “new developmentalism” is based on domestic finance, balanced public budgets, moderate interest rates and competitiveness policies aimed at neutralizing the tendency to exchange rate overappreciation. The paper also points out a few theoretical questions the book raises.
Vol.30, n.o4(120), 2010
Um esboço histórico do experimento de Chicago
Aníbal Pinto
The historical precedents of the neoliberal experiment in Chile have been scarcely studied. However, it can be argued that the feasibility of this experience was contingent upon the bases built during previous periods of the Chilean development, starting from the 1940’s. The export growth and diversification of the neoliberal period was based on three main economic sectors: fresh fruit and vegetables, forestry, and fishery. The development of these sectors was in turn based on CORFO’s development programs, which combined private and public efforts with, in some cases, foreign assistance. Also, the copper nationalization process in 1971 was instrumental to the strengthening of the state’s economic capabilities. These facts point out a very significative difference between Chilean neoliberalism and other orthodox experiments within Latin America.
Vol.11, n.o2(42), 1991
A américa latina entre duas crises
Aníbal Pinto
This work, to begin with, draws attention to the clear contrast between the intensity and evolution of the crisis of the thirties and the one that bursts into the early eighties, originating the so-called “lost decade” which, in fact and except for few exceptions, has not yet been overcome. Several main issues are emphasized. On the one hand, the incidence of the first crisis was substantially more serious than the second. On the other, the external circumstances were more disadvantageous and prolonged due to the repercussion of the crisis on the “central economies” and the incidence of the Second World War. In spite of these circumstances, most of the Latin American countries could initiate their recuperation and maintain their so-called ‘inward development” up to, approximately, the sixties. In the last part, after analyzing different facts which influenced the evolution --mainly, the role played by the central economies in the two recalled crisis --, emphasis is made on the fact that we “live in another Latin America” and that it is necessary, above all, to constitute other socio-political agglomerations inherent to the internal and external realities of present time.
Vol.12, n.o3(47), 1992
Sobre a economia política do desenvolvimento e a contribuição dos serviços
Anita Kon
On the political economy of development and the contribution of services. This paper aims to ponder on recent approaches to Political Economy of Development, that bring about new concepts about the role of services activities in the economic development process. The analysis begins by checking the new attributions of services entailed by the productive paradigm changes that have occurred since the 1970’s. Then, it examines the debate about the new kind of society, called “post-industrial”, which is centered in the services dynamics. Finally, it discusses the relevance of social capital disponibility, as a prime factor to attain economic development.
Vol.27, n.o1(105), 2007
A economia política do gênero: determinantes da divisão do trabalho
Anita Kon
This article examines some recent discussions about labor division between genders that take place in the field of Political economy. It analyses theoretical approaches that stress the need of a less rigid theory, in its disciplinary boundaries, and reject the concept of Economy as an ahistorical, disembodied entity. It discusses the gender occupational distribution, beginning with a historical point of view about the development of this phenomenon, and observing the impacts of the demand and offer determinants of the labor market, the effects of economic restructuring and causes of wage differences.
Vol.22, n.o3(87), 2002
On the creative economy chain in Brazil: potential and challenges
Anita Kon

O artigo apresenta uma análise da Economia Criativa no Brasil, mostrando seu potencial de desenvolvimento para ageração de renda e emprego, visando à retomada do desenvolvimento no país. São apresentados inicialmente conceitos e características da Economia Criativa para em sequência analisar o perfil e as potencialidades de desenvolvimento desta indústria no Brasil. A parte empírica introduz aspectos metodológicos, prosseguindo com a análise da contribuição da cadeia criativa à geração de Valor Adicionado e de Trabalho do país, e uma visão do seu potencial no Comércio Exterior. Finalmente, são investigados os desafios para a implementação de políticas públicas específicas. 

The article presents an analysis of the Creative Economy in Brazil, showing its development potential for the generation of income and employment, in order to the country’s development resumption. They are initially presented concepts and features of the Creative Economy for, in sequence, to analyze the economic development profile and potential of this industry in Brazil. The empirical part introduces some methodological aspects, in continuing with the analysis of the creative chain contribution to the generation of Value Added and employment in the country, and a vision of theirforeign trade.potential. Finally, the challenges to the implementation of public policies are investigated. 

Vol.36, n.o1(142), 2016
Distribuição de renda no Brasil nos anos 80
Antônio Corrêa de Lacerda
Contrary to the huge development of the Brazilian economy from the post-war to the end of the seventies, the eighties signified the rupture of this cycle and the combination of a chronic inflationary process, the economic stagnation and the worsening of income inequality. These factors together has not revealed to be neutral concerning the distributive aspect. Between 1981 and 1989, the income of the 10 per cent richer increased 14,2 per cent, while the income of the 20 per cent poorer decreased 26 per cent. This work presents some international comparisons, even on the fuctional as well as on the personal distribution of income, and concludes that this distribution becomes a fundamental aspect the stabilization and to the economic-social development recovering.
Vol.14, n.o3(55), 1994
Lei de falência, acesso ao crédito empresarial e taxas de juros no Brasil
Antonio Gledson de Carvalho
Bankruptcy law is an important economic institution because of its effects on credit and, consequently, on financial and economic development. This fact has led several countries to revise their law. This article presents an overview on the topic focusing in Brazil. Its main points are: credit in Brazil is not compatible with the country level of development; there is evidence that Brazil is among the countries where legal protection to creditors is worst; the international experience shows that changes in the bankruptcy law affects the market for credit; and the Brazilian law is extremely outdated.
Vol.25, n.o1(97), 2005
A "credibilidade" da política econômica antiinflacionária e sua consistência temporal
Arthur Barrionuevo Filho
This article is a survey about the consequences of the credibility of government policies, one of the main developments in macroeconomic theory in the 80s. New classical economists used it to explain why, in the long-run, government policies fail when they intend to increase the level of employment above the natural rate. Even in the short run, they only achieve their aims if it is possible to cheat the private sector. The result will be to loose credibility and inflationary pressures. Other authors developed it as a tool to understand the relationship between government, political parties and pressure groups with economic policy. Finally, we comment some papers about the Brazilian inflation based on distributive conflict and compare them with explanations from credibility of policies.
Vol.14, n.o1(53), 1994
Para superar el estancamiento econômico en México: "nudos criticos" de um proyecto nacional de desarrollo
Arturo Guillén
This article is devoted to analyze changes in economic policy to be adopted by Mexico if a national development project were implemented. Starting from an evaluation of the main economic and political outcomes of Vicente’s Fox administration, the author proposes an alternative development strategy which permits Mexico to overcome economic stagnation. That strategy would be based in recovering the internal market as the dynamical focus of the economy with the purpose of satisfying basic needs of people. To be successful this strategy should to confront the “critical knots” of the Neo-liberal model: to reverse the uneven distribution of income; abandoning the fixing of restrictive monetary, fiscal and exchange rate policies; and mobilizing economic surplus by means of a profound revision of debt service schemes. It concludes that to implement a national development project it is required a political and economic strategy to dismantle neoliberalism, which is an antinational structure of power.
Vol.27, n.o4(108), 2007
States and economic development
Atul Kohli
Today the Washington Consensus on development lies in tatters. The recent history of the developing world has been unkind to the core claim that a nation that opens its economy and keeps government’s role to a minimum invariably experiences rapid economic growth. The evidence against this claim is strong: the developing world as a whole grew faster during the era of state intervention and import substitution (1950-1980) than in the more recent era of structural adjustment (1990-2005); and the recent economic performance of both Latin America and Sub-Saharan Africa—regions that truly embraced neoliberalism—has lagged well behind that of many Asian economies, which have instead pursued judicial and unorthodox combinations of state intervention and economic openness. As scholars and policy makers reconstruct alternatives to the Washington Consensus on development, it is important to underline that prudent and effective state intervention and selective integration with the global economy have been responsible for development success in the past; they are also likely to remain the recipes for upward mobility in the global economy in the future."
Vol.29, n.o2(114), 2009
Coping with globalization: Asian versus Latin American Strategies of development, 1980-2010
Atul Kohli

When compared to Latin America, Asian economies since 1980 have grown faster and have done so with relatively modest inequalities. Why? A comparison of Asia and Latin America underlines the superiority of the nationalist capitalist model of development, which has often been pursued more explicitly in Asia, over that of a dependent capitalist model, which has often been pursued in Latin America. In comparison to Latin America, the Asian model has facilitated higher and less volatile rates of economic growth and a greater political room to pursue social democratic policies. The “tap root” of these alternate pathways is relative autonomy from global constraints: states and economies in Asia have been more nationalist and autonomous than in Latin America. 

Vol.32, n.o4(129), 2012
The postsocialist transformation in central and Eastern Europe
Bela Greskovits
What is attempted in the East is catching up with the West from a recent position of worse-than-Latin-American economic backwardness. Until now populations, that were sentenced to political patience by the logic of poor democracies, have reluctantly backed this enormous effort. Central and Eastern Europe’s post-socialist path is characterized by an increasingly discredited ideology of a return to Europe and a non-European combination of substitute institutions of development: radical opening towards the World economy, damaged institutions of labor representation, eroded state capacity, and often strong private and foreign dominance in the financial and other strategic sectors. There is a chance for a few countries to succeed. Yet various development traps may be more typical to the outcome than a “Great Spurt” in the Gerschenkronian sense.
Vol.22, n.o4(88), 2002
The developmental state in Brazil: Comparative and historical perspectives
Ben Ross Schneider

 The record of successful developmental states in East Asia and the partial successes of developmental states in Latin America suggest several common preconditions for effective state intervention including a Weberian bureaucracy, monitoring of implementation, reciprocity (subsidies in exchange for performance), and collaborative relations between government and business. Although Brazil failed to develop the high technology manufacturing industry and exports that have fueled sustained growth in East Asia, its developmental state had a number of important, and often neglected, successes, especially in steel, automobiles, mining, ethanol, and aircraft manufacturing. Where Brazil’s developmental state was less successful was in promoting sectors like information technology and nuclear energy, as well as overall social and regional equality. In addition, some isolated initiatives by state governments were also effective in promoting particular local segments of industry and agriculture. Comparisons with East Asia, highlight the central role of state enterprises in Brazil that in effect internalized monitoring and reciprocity and bypassed collaboration between business and government (that was overall rarer in Brazil).

Vol.35, n.o1(138), 2015
The new institutional economics, business associations, and development
Ben Ross Schneider e Richard F. Doner
With the demise of development economics in the 1970s, the academic discipline of economics had little specific theorizing on development to offer practioners and proffered instead universal, liberal nostrums of free trade and free markets (Wing, 1990). These universal prescriptions evolved into the first catalogued Washington consensus in the 1980s on the urgency of market-oriented reforms in developing coun-tries (Williamson, 1990). In the 1990s, a new connection formed between an emerging institutionalist subfield in economics and the next consensus in Washington after the first generation of market-oriented reforms. The opening of the third annual meetings of the International Society for New Institutional Economics (ISNIE) at World Bank headquarters in Washington, D.C. in September 1999 symbolized this new connection.
Vol.20, n.o3(79), 2000
A teoria da perspectiva e as mudanças de preferência no Mainstream: um prospecto lakatoseano
Bruno Berger e Huáscar Fialho Pessali
The theory of the perspective and the changes of preference in the mainstream: a Lakatosean prospect. For many decades over the 20th Century, the mainstream of economics adopted a normative and axiomatic theory of individual behavior in which maximizing procedures were carried out by rationally unbounded agents. This status has been challenged on many grounds and alternative views from fields like psychology have found a way into the core of economics research frontier. Prospect theory, developed by psychologists Daniel Kahneman and Amos Tversky since the 1970s, has provided a more empirical, inductive and descriptive theory of decision making. It has made significant inroads into mainstream microeconomics, shaking the habits of some of its practitioners. This paper first takes stock of its main developments and then uses a Lakatosian framework to draw out its negative and positive heuristics. In what follows, its heuristics are compared to those of traditional rational decision-making theories. The differences between them are highlighted, pointing to changes in the mainstream of the profession and to new opportunities for research.
Vol.30, n.o2(118), 2010
National exchange rate policies and international debt crises: how Brazil did not follow Argentina into a default in 2001-2002
Bryan Andrew Kenyon Johnson
This paper examines how exchange rate policies and IMF Stand-By Arrangements affect debt crises using econometrics and a comparison between Argentina and Brazil. It refines an existing diagram outlining crisis development to propose crisis prevention strategies. Flexible exchange rate policies reduce a country’s probability of default by over 4%, but Stand-By Arrangements increase it by an inconsequential percentage. Unlike Argentina, Brazil avoided a default via a freely-floating exchange rate system, fiscal deficit reduction, and a cooperative and coordinated relationship with the IMF. The results provide policymakers from developing countries with lessons to manage their countries’ default risks more effectively.
Vol.27, n.o1(105), 2007
A nova ortodoxia do desenvolvimento: uma crítica do debate em torno da visão do banco mundial e elementos para uma abordagem alternativa neo-shumpeteriana
Carlos A. G. Gadelha
The purpose of this paper is to criticize the debate about the new hegemonic view of the development process as proposed by the World Bank. First, it presents the theoretical insufficiency of the debate centered upon the concept of market failures, pointing that the neoclassical approach dominates its terms. Second, some theoretical elements of an alternative neo-Schumpeterian view are presented which breaks radically with the neoclassical foundations, embodying history, institutions and technological change in the analysis of the development process, independently of either optimum or market failures concepts.
Vol.18, n.o1(69), 1998
Economia e política do desenvolvimento recente na China
Carlos Aguiar de Medeiros
The Chinese recent economic development is one of the most important achievement of this century. During the 80s the American strategy to defeat the former Soviet Union and its commercial and exchange policies aimed to diminish the Japanese trade superavit were important factors to the Chinese development strategy. This consisted of a wide and complex set of industrialization policies aimed to affirm the Chinese sovereign over its territory and population.
Vol.19, n.o3(75), 1999
Salário real e a oferta de alimentos básicos no Brasil
Carlos Antonio Luque e José Paulo Zeetano Chahad
According to the available data, real wage has been declining since 1980, in terms of wage goods, mainly food, even in the presence of several nominal wage policies. The main consequence has been the acceleration of the national income concentration, against the labor share. In order to solve this problem and to increase the real wages, the government should adopt a program in the direction of the economic development. To make this possible, it is necessary: (a) to concentrate the investment in the wage goods production; (b) to estimulate the wage goods demand and (c) to utilize the “normal” external prices as a price indicator to the Brazilian agriculture producer.
Vol.10, n.o3(39), 1990
Três trampas: sobre los origenes de la crisis economia mexicana de 1994
Carlos Elizondo Mayer-Serra
In all developing countries facing economic reform there are political and economic obstacles to such a radical change. In the case of Mexico, however, during the Salinas administration (1988-94), a new economic crisis exploded after serious changes had taken place and the economy seemed to have stabilized and was prepared for continuous growth under a new development strategy. By the end of the six year presidential period, the old cycle of boom and bust returned. This article seeks to understand why has the Mexican economy ended in two of the last three presidential periods with an overvalued exchange rate, high deficits of the current account, unsustainable short term debt, and a financial crisis. The article focuses on the Salinas administration, but shows that a similar logic led to economic crisis in the Echeverría (1970-76) and López Portillo (1976-82) administrations. It is argued that the 1994 crisis is the result of three traps: an international context which allowed a masive entrance of capital flows, the ideology of the state elite, and the incentives provided by the institutional framework. These three traps were also present in the previous two crisis.
Vol.18, n.o4(72), 1998
The elusive quest for the rule of law: promoting judicial reform in Latin America
Carlos Santiso
While there exists a consensus on the centrality of the rule of law both for economic development and democratic consolidation, the political economy of legal and judicial reform remains largely under-theorized. The review essay underscores the tensions and trade-offs between the different strategies and objectives of judicial reform in Latin America. Contrasting the experiences of Argentina and Brazil, it highlights the delicate balance between independence and accountability. It also assesses the role of donor institutions, and in particular the multilateral development banks, in promoting judicial reform. It argues for a more realistic approach to judicial governance, focusing on feasible reforms.
Vol.23, n.o3(91), 2003
Ignorância e Intervenção em Hayek e Popper
Celia Lessa Kerstenetzky
In the birth of modern Economics there is the statement that the social world is an unintended effect of individual decisions and actions, an environment of limited knowledge or “ignorance”. In the XXth century, two philosophers stood out as far as the development of this idea is concerned – Friedrich Hayek and Karl Popper. However, one cannot safely assert that Popper and Hayek were attuned with respect to the implications of ignorance to governmental intervention on economic activity. In this article, I argue that, in contrast to the liberal-conservative Hayek, Popper acknowledges an important legitimate role for government and democratic polity in perfecting social life, precisely on account of the problem of limited knowledge.
Vol.24, n.o3(95), 2004
Os desafios da nova geração
Celso Furtado
Speech in the Opening Ceremony of the III International Conference Celso Furtado “Development in a Globalization Context”.
Vol.24, n.o4(96), 2004
Reflexões sobre a crise brasileira
Celso Furtado
This short intervention was made by Celso Furtado during the I International Seminar of University of São Paulo on "New Paradigms of Development", held on June 14, 2000, when he received the honor to merit medal from the President of the University, Professor Jacques Marcovitch.
Vol.20, n.o4(80), 2000
Entre inconformismo e reformismo
Celso Furtado
This is a paper-synthesis, where the author summarizes his theory of development and underdevelopment. Some basic ideas are here presented: the economic theory of development must start with the study of history; underdevelopment is a specific historical and economical phenomenon, that cannot be thought in terms of linear stages of history; this historical phenomenon must be studied in structural terms, relating the historic and the economic aspects; the basic characteristic of underdeve-lopment is the dependency relation, expressed in the center-periphery system; in the study of development the basic concept to start with is the concept of social surplus, its forms of appropriation and utilization. The paper ends with an analysis of the frustrations of a reformist. Protectionism, that was justifiable in a first phase of indus-trialization, was maintained too long in Latin America; in a second phase, an active economic policy for exports was necessary. On the other hand the populist risk was always present, while the real social problems related to a high level of income con-centration were not solved.
Vol.9, n.o4(36), 1989
O nordeste: reflexões sobre uma política alternativa de desenvolvimento
Celso Furtado
This paper reinforce somes ideas, which were expressed in the past quarter of century in the document that originated the SUDENE, and analyses them accordingly to the events of last decades. The conclusions are that the main guidelines (1) The need of a transformation in the agrarian structure and (2) The priority that should be given to industrialization as a dynamic element of regional development, both continuing being valid. In relation with the industrialization process, the necessity of a wide connection between industry and local market (which gives to the industrialization the character of an instrument of social homogeneity) is highlighted.
Vol.4, n.o3(15), 1984
A difusão da indústria nuclear - considerações preliminares aos programas latino-americanos
Cesare G. Galvan
The diffusion of nuclear technology means more a development of a large network of activities (e.g., capital goods, construction, metallurgical and chemical industries) than a path for solving energy problems. Its ties with the arms race cause specific non-proli-feration problems. A dose state-capital articulation emerges, which strengthens the subsumption of labour and introduces new processes of social control. Already ful-filled investments give impulse to this tendency. The Tlatelolco regime, banishing nuclear weapons from Latin America, seems to establish a pre-condition for a regional solution to the problems thus arising. But, besides the imperfect adhesion to the Treaty, technical and political reasons obstruct a regional integration of the nuclear fuel cycle. Among other things, a lack of regional integration in other industries makes nuclear expansion more dependent on extra-regional techno-logical ties.
Vol.3, n.o4(12), 1983
Avaliação de duas correntes da economia ambiental: escola neoclássica e a economia da sobrevivência
Charles C. Mueller
It is possible to evaluate the main schools of thought in environmental economics based on a stylized view of sustainable development. This view considers that is sustainable the development that assures: at least the maintenance of the level of well-being of the current generation of inhabitants of the first world; an increase in the well-being of the present generation inhabiting the poor countries; and, the ability of the future generations to maintain or improve their well-being. In principle, a school of thought in environmental economics should consider these three aspects; however, some emphasize one, others stress another of these aspects. Based on a framework founded on the above concept of sustainable development, the paper presents an evaluation of two of these schools of thought: neoclassical environmental economics, emphasizing the short term and industrialized market economies; and a school which could be termed the economy of survival, emphasizing the very long term. It begins with a discussion of the recent insertion of the environmental dimension in economics, follows with a review of the concept of sustainable development, which is adapted for the evaluation. It concludes with a discussion of the main contribution of the two schools, and of the main contrasts between them.
Vol.18, n.o2(70), 1998
Sustainable development: conceptualizations and measurement
Charles C. Mueller
The paper builds up from a review of some expected, but other quite surprising results regarding country estimates for the year 2000 of genuine saving, a sustainability indicator developed by a World Bank research team. We examine this indicator, founded on neoclassical welfare theory, and discuss one of its major problems. Theoretical developments from ecological economics are then considered, together with insights from Georgescu-Roegen’s approach to the production process, in search for an alternative approach. A model with potentially fruitful contributions in this direction is reviewed; it points the course efforts could take enable sustainability evaluations based on a more realistic set of interrelated monetary and biophysical indicators.
Vol.28, n.o2(110), 2008
A economia de curto prazo de Richard Kahn e os primórdios da teoria do oligopólio: uma contribuição à história do pensamento econômico contemporâneo
Claudia Heller
This article aims to contribute to the history of contemporaneous economic thought. It deals with Richard Kahn’s fellowship dissertation, and its influence on the development of the theory of imperfect competition and on the theory of oligopoly. It discusses the Author’s claim of being the first to create the “kinked demand curve” even before the work of the Oxford Economic Research Group was initiated. It also argues that he developed a way of measuring the “degree of monopoly” before Kalecki.
Vol.18, n.o2(70), 1998
Preço da terra, taxa de juro e acumulação financeira no Brasil
Cláudio Antonio G. Egler
The relationships between the land price and the financial system in Brazil has been analyzed under different points of view, but little or none significance is given to the interest rate as a factor that underlies the land market with the financial accumu-lation. The main purpose of this work is to analyse, in a historical perspective, how the land price expresses different stages of development of the financial activities and how the interest rate makes a bridge between land and capital markets.
Vol.5, n.o1(17), 1985
Moeda e espaço no Brasil: um estudo de áreas selecionadas
Claudio Barra e Marco Crocco
The aim of this piece is to analyse, based on the post-keynesian framework, the relationship between the centrality and dynamism of regions and the behaviour of some regional financial variables at Brazil from 1988 to 2000. This paper undertake the analysis using a special geo-economic delineation presented by LEMOS, GUERRA e MORO (2000) and the existence of the polygon of development proposed by DINIZ (1993). The results shown the relation between centrality of a region and the presence of institutional characteristics those make the credit easier to be created during the overall analysed period.
Vol.24, n.o3(95), 2004
A revolução agrícola no Brasil: singularidade do desenvolvimento do capitalismo na agricultura brasileira: 1850-1930
Claudio Gontijo
This paper shows that the universal logic of capitalism can be identified within the singularity of agricultural change in Brazil during the initial period of industrialization (1889-1930), through the mediation of a particular pattern of agricultural transformation based on large estates. The development of agriculture was marked by the process of gradual transformation of the large esta-tes (latifundia) into modern capitalist enterprises, in such a way that the Brazilian pattern could not be based on small peasant properties. As a result, the development of capitalist relations of production and the productive forces remained weak and was limited to industry, while the majo-rity of the population could not improve its poor living conditions.
Vol.8, n.o2(30), 1988
Reorganização econômica, absorção de mão-de-obra e qualificação
Claudio Salvadori Dedecca
In the 90’s, the Brazilian society knew a very important process of economic and social changes. After a long period of the development centered in the internal market and local industrial base, a new economic policy was adopted with the objective of the increase of the competitiveness of the industrial structure. The new economic dynamic induced the growth of the importation and reduced the importance of local productive base for internal market level. This dynamic has imposed systematic reductions of the formal employment level. The government argues that the employment problems is explained by the reduced level of the qualification of national workers. This paper shows that this dynamics is based in the unskilled labor force. It reinforced the low skill of the Brazilian labor market and doesn’t improve the competitiveness of national productive base. We doesn’t find indicators that can confirm the arguments of the actual economic policy.
Vol.22, n.o2(86), 2002
A queda da desigualdade de renda corrente e a participação do 1% de domicílios de maior renda, 2000-2010
Claudio Salvadori Dedecca

The reduction of income inequality and the participation of the top 1% in the Brasil, 2000-2010. According to OECD, the recent process of deterioration of the income distribution chain in developing and developed countries has been marked by increased participation of 1% of households with higher income. In the past decade, Brazil has escaped the general trend of deterioration of the income distribution. This paper shows that the reduction of economic inequality was accompanying the reluctance of the participation of top 1%, arguing that the reproduction of the movement more generally requires that this participation has been reduced in the current decade, to enable sustained growth and development with justice social. 

Vol.34, n.o2(135), 2014
Desigualdade, mas de qual falamos?
Claudio Salvadori Dedecca

What inequality are we talking about? The essay was motivated by the recent disclosure of documents by multilateral development institutions demonstrating that the last phase of economic growth has tended to aggravate socioeconomic inequality. The purpose of the current analyze is to debate the advances that have been made and the persisting methodological and analytical difficulties in the debate on inequality as well as to contribute with a few insights towards the construction of a multidimensional view of a recurring and inherent aspect of capitalist development. 

Vol.32, n.o1(126), 2012
Notas sobre a evolução do mercado de trabalho no Brasil
Cláudio Salvadori Dedecca
Since 1990, the problem of employment in Brazil has been associated to the model of regulation of the labor relations in a context of internationalization and reorganization of the national economy. This perspective proposes the flexibility of the model of social protection established in the National Constitution. This essay has the objective to point that the national problem of employment doesn’t explain by the actual social regulation model. It is product of the process of formation and regulation of the labor market established in the 40´s of the last century and of the way as this process was articulated with a particular trajectory of development of the Brazilian economy in the period 1930-80. In the last 20 years, the stagnation of the Brazilian economy in a context of reorganization of the productive structure has aggravated the employment problem.
Vol.25, n.o1(97), 2005
Uma análise da estratégia nacional de desenvolvimento da Malásia
Cleomar Gomes e Clemens Nunes
An analysis of the national development strategy of Malaysia. This paper aims at studying Malaysia's national development strategy in the last three decades. Firstly, we will give emphasis to the country's economic planning development, its medium-term and long-term plans, as well as Mahathir's political influence. Secondly, we will try to identify key elements in the Malaysian growth process, such as its exchange rate and current account policies, the participation of the government in the whole process and matters related to domestic savings and foreign direct investment. We will also talk about the 1997 financial crisis.
Vol.28, n.o4(112), 2008
Crescimento econômico impulsionado por recursos naturais: uma nota sobre a experiência de Botsuana
Daniela Corrêa e Gilberto Tadeu Lima
Economic growth stimulated by natural resources: a note on the Botswana experience. Botswana was the fastest growing economy in the world in the 1966-1989 period. Even though the discovery and exploitation of large diamond reserves had played an essential role in such an impressive performance, favorable economic, political and institutional conditions allowed the use of the resulting large export revenues as a lever for economic growth, though not for development.
Vol.30, n.o2(118), 2010
Rethinking macroeconomic policies for development
Deepak Nayyar
The global economic crisis has created an opportunity to rethink macroeconomics for development. Such rethinking is both necessary and desirable. It is essential to redefine macroeconomic objectives so that the emphasis is on fostering employment creation and supporting economic growth instead of the focus on price stability alone. It is just as important to rethink macroeconomic policies which cannot simply be used for the management of inflation and the elimination of macroeconomic imbalances, since fiscal and monetary policies are powerful and versatile instruments in the pursuit of development objectives. In doing so, it is essential to the overcome the constraints embedded in orthodox economic thinking and recognize the constraints implicit in the politics of ideology and interests.
Vol.31, n.o3(123), 2011
Analyzing the economic impact of sustainable development programs in the Brazilian Amazon
Drew Nelson
Over the last forty years, the Brazilian Amazon has been the object of many development and industrialization programs. The vast majority of those programs have been “mega-projects” implemented by the Brazilian federal government. Recently, several states have implemented their own style of economic development programs in the Amazon. These smaller scale “local” sustainable development programs offer policy makers an alternative to the “mega-projects.” This paper seeks to identify the strengths and weaknesses of each economic development model. Additionally, this paper provides an economic impact analysis of one “local” sustainable development project, Projeto Castanha-do-Brasil.
Vol.24, n.o2(94), 2004
Reflexões pós-cepalinas sobre inflação e crise externa
Edmar Lisboa Bacha
The UN/ECLA 1949 Manifesto centered on inflation and balance of payments as critical issues on Latin America’s development. Fifty years afterwards, Latin America succeeded both conceptually and in practice to overcome the high inflation syndrome. Not so the external strangulation, which is still very much present in the region. After reviewing recent conceptual advances in understanding the “dollar constraint” problem, the paper discusses Persio Arida’s proposal for a fully convertible floating currency as a means of building a domestic long-term financial market.
Vol.23, n.o3(91), 2003
Building-up influence: post-war industrialization in the State of Minas Gerais, Brazil
Eduardo A. Haddad, Geoffrey Hewings, Fernanda Leon e Raul Cristovão dos Santos
This article examines the post-War industrialization process in the Brazilian State of Minas Gerais, focusing on one of its desirable outcomes, namely the capacity to generate growth through the impact of strong input-output linkages. This process is placed into historical perspective considering the ideas that permeate the economic development debate throughout the period of analysis. Changes in the regional economic structure are assessed through the use of three input-output tables for the years 1953, 1980 and 1995. By adopting the fields of influence methodology as the analytical core, it is shown that the efforts towards the creation of a more integrated regional economy have generated stronger influence of the targeted sectors (metal products, transportation equipment, chemical, and services). However, structural changes also contributed to strengthen leakage in the system originated in traditional economic activities.
Vol.27, n.o2(106), 2007
From gold money to fictitious money
Eleutério F. S. Prado

Do dinheiro-ouro ao dinheiro fictício - No século XIX, o dinheiro figurava sobretudo como ouro. No século XXI, ele aparece como estritamente fiduciário. Ora, Marx disse com toda clareza que o dinheiro-ouro era a base efetiva do sistema monetário e de crédito. Teria o desenvolvimento histórico mostrado finalmente que a sua teoria do valor e do dinheiro seria falsa? Os marxistas têm se debatido continuamente com essa questão. O artigo procura mostrar que existe uma simples e boa resposta para essa dúvida crucial. Ela surge apenas desenvolvendo um pouco a dialética da mercadoria e do dinheiro que se encontra em O Capital.   

In the nineteenth century, money appear primarily as gold. In the twenty-first century, it appears as strictly fiduciary money. It is known that Marx said very clearly that the golden money was the effective basis of the monetary and credit system. Had the historical development finally shown that his theory of value and money would be false? Marxists have struggled continually with this problem. This paper tries to show that exist a simple and good answer to this crucial question. It comes just developing a little the dialectics of commodities and money found on Marx’s Capital 

Vol.36, n.o1(142), 2016
Crescimento desigualitário em uma economia subdesenvolvida - O caso do Brasil
Elisabeth Sadoulet
The industrialization policy executed in several developing countries (Brazil and Mexico, for example) produced an unusually fast growth of these economies, when such policy succeeded. Nevertheless, the recent evolution shows that the main problems were not really solved. Through the development of a model, this paper studies at length the mechanism of social disarticulation, which is understood as the incapacity of the modern sector to promote the development of the whole economy, particularly in the Brazilian case (from 1968 to 1973), at the top of what was then called “the Brazilian miracle”.
Vol.5, n.o2(18), 1985
A crise do sistema financeiro globalizado contemporâneo
Ernani Teixeira Torres Filho

The paper analyses the development of the contemporary global financial system as a consequence of markets as well as States strategies. This global financial system based on the flexible dollar has generated many financial bubbles since it started in the 80´s, of which the 2008 crisis is the latest and the largest, particularly because it affected the main banks in the core market of the system, the US. On the last decades, banks had changed their business strategies from traditional lending activities towards more speculative investments, similar to what hedge funds do.

Vol.34, n.o3(136), 2014
Política e economia no federalismo do governo Geisel
Fabiana da Cunha Saddi
The aim of this work is to study the political dynamic of the reconstruction of federalism in Brazil during the Geisel Government, in the very beginning of the Brazilian transition to democracy. This analysis will begin in November 1974, when the results of the election moved the federal government to start using the economic and political relations of federalism to conduct and control two complementary projects: the controlled political liberalization and the Second Brazilian Plan for Development.
Vol.23, n.o2(90), 2003
As convenções de desenvolvimento no governo Lula: um ensaio de economia política
Fabio Erber
Development conventions in Lula’s mandates: an essay on political economy. This article analyses the different development proposals put forward during the two Lula Presidential mandates. It is argued that such proposals are structured as “development conventions”, which involve different priorities and different solutions to the problem of structural transformation. Their analytical frame is also different as are the interest groups which uphold them. Therefore their epistemology must be placed in the political economy context. It is argued that, notwithstanding the weight gained by a “developmental” convention over the second mandate, a “stability” convention is still hegemonic and commands macroeconomic policies.
Vol.31, n.o1(121), 2011
Política industrial: teoria e prática no Brasil e na OCDE
Fabio S. Erber e José Eduardo Cassiolato
The paper analyses the recent development of industrial and technological policies in Brazil as compared to those adopted in the main OECD countries. The first section sets the background, presenting a brief description of the evolution of the global econ-omy. The second section presents the analytical framework of the article. It argues that presently there are four “industrial policy agendas”, derived from theoretical and po-litical considerations — ultra-liberal, reformist liberal, neo-developmental and so-cial-democrat. The third section presents the evolution of the Brazilian industrial and technological policy during the nineties, examining in more detail the present situation. The fourth section presents the policies pursued by the main OECD countries (the United States, Germany, Japan and the United Kingdom), examining their evolution and fo-cusing on the present pattern of policies. The last section presents the main conclusions of the paper.
Vol.17, n.o2(66), 1997
Notas sobre a constituição do capitalismo na Russia: da emancipação dos servos a grando indústria
Fabrício Augusto de Oliveira
This work focus on the transition period in which the main conditions for the capi-talist mode of production was established in the Russian economy. The choice of this country was due to the especial characteristics of its developmental pattern. In the Russian economic history, as opposed to the British case, State and the foreign capital were the main responsible for the country’s economic changes. On the other hand, me formation of a capitalist system has been based upon the big land ownership and upon the peasant impoverishment, instead of a really revolutionary way based on peasant economy. The study has tried to grasp the historical process which has generated the internal market to capitalism and to appreciate the role of both the State and the foreign capital in the large industry formation which, in fact, had already been a reality at the end of l9th century.
Vol.4, n.o1(13), 1984
Mudança estrutural, desenvolvimento institucional e crescimento econômico sustentado: um comentário sobre a experiência irlandesa
Fernanda Cardoso, Daniela Corr~ea e Gilberto Tadeu Lima
Structural change, institutional development and sustained economic growth: a comment on the Irish experience. It is discussed the recent Irish experience of sustained economic growth, in which a social pact, the entry in the European Union and the opening of the economy have all played a paramount role. Some remarks on the sustainability of such an experience are also made.
Vol.29, n.o1(113), 2009
Industrialização na amercia latina: da "caixa postal vazia"
Fernando Fajnzylber
In this paper the author offers an alternative development strategy to the previous import substitution, inner oriented, state led one, but also to the “new orthodoxy of the 1980s” — the neoliberal approach. This alternative is based on the experience of European countries and particularly of the Asian Tigers, that he calls GEICs (Growth with Equity Industrializing Countries). These countries were able to develop combi-ning high rates of growth with a reasonable distribution of income. This “mail box” is void in Latin America. If we build a two entry matrix having in the lines the growth rate (low or high) and in the colons, the degree of equity (bad or reasonable), and we plot the Latin American countries in this matrix, the box “high rate of growth — reasonable degree of equity” will be void. If Latin America is able to fill this box, savings will increase, technical progress will be accelerated, growth will be resumed.
Vol.12, n.o4(48), 1992
Reflexões sobre os limites e potencialidades econômicas da democratização
Fernando Fajnzylber
The democratization in Latin America can assert a new paradigm of development for the region. This hypothesis is considered from the analysis of both external and internal economic challenges, and from the democratization’s economic potentialities. The greatest challenge is transcending those modalities of economic, social and political orga-nization, which originated the authoritarism and its various modalities. The democratization’s intermediate and long time potentialities are analyzed in the circuit of social innovation, creative-ness, public administration and regional integration, excluding the neoliberal conceptions in “Cone Sul” in order to suggest a new ways and means to progress.
Vol.6, n.o1(21), 1986
Distribuição de renda, demanda efetiva e acumulação
Fernando J. Cardim de Carvalho
The paper presents a survey of the main theoretical schools approaching the determina-tion of income distribution profiles. This question has been the core of economic theory since its birth, with Adam Smith. Classical Political Economy had its focus on the relations between functional income distribution and the development process, proposing that growth could be promoted by an increase in the profit share of national income. Neoclassical economics main-tained the focus on functional distribution, relating it, however, to a notion of relative scarcity of factors of production. Keynes’s General Theory changed the emphasis to personal distribu-tion that would be related to the formation of the various elements of aggregate demand. Post Keynesian studies tried to relate Keynes’ s views to classical insights on income distribution. The paper ends with a brief examination of some studies on Brazilian income distribution pro files.
Vol.11, n.o3(43), 1991
Método dinâmico da Escola de Estocolmo
Fernando Nogueira da Costa
Dynamic method of the Stockholm School. The development of the dynamic method is considered the biggest contribution of the Stockholm School. The objective of this review-article is to show as this method contributed for the Alternative Theory of Money. The influence received from Wicksell is argued. The Stockholm School anticipated the thought of Keynes, but advancing dynamic macroeconomic analysis. The restatement of Keynes´ ideas, under the dynamic method, is important post keynesian contribution.
Vol.30, n.o4(120), 2010
Celso Furtado, o retorno à polêmica fundamental
Fernando Pedrão
Celso Furtado, the return to the basic controversy. A reading of the work of Celso Furtado in its completion opens an enriching view of the interaction between theoretical thinking and the unveiling of Latin-America history. Starting from an appraisal of the pre-Classic and Classic authors, Furtado outlined an approach of surplus theory. That would enable development theory to deal with the unevenly industrialized economies like Brazil. His thorough analysis of development and underdevelopment processes broke away from the initial ECLA experiences to build a planning proposal the uprising country. The French roots of his academic profile helped him to keep an orderly explanation of capital demand that kept him siding with Wicksell against the subjective theory of Schumpeter.
Vol.31, n.o2(122), 2011
Financiamento do desenvolvimento urbano
Fernando Resende
This paper deals with a controversial aspect of the Brazilian public policies: the way urban investment and the provision of urban services are financed. The failure of pat solutions, based on a highly centralized decision making process of channeling bud-getary resources and forced savings to state and local governments, led to a situation in which financial difficulties became one of the main reasons of the deteriorating ur-ban infrastructure and urban services in most of the major Brazilian cities. Against this background the paper argues for a through revision of the way and means of urban development financing, based on recommendations of pooling available resources, imple-menting professional management and moving toward better intergovernmental coor-dination of urban policies. Confidence in the newer rules, and in its maintenance over time, is also emphasized as an important requisite for attracting private capital to im-portant areas, such as sanitation, transportation and housing.
Vol.17, n.o4(68), 1997
O desenvolvimento econômico e a retomada da abordagem clássica do excedente
Franklin Serrano e Carlos Medeiros
In this article we show how an analytical framework based on the classical surplus approach can be used to the understanding of some central matters of the economic development of the nations and of the Brazilian economy in the last decades, in particular. We start discussing the shortcomings of the traditional approach to development economics and the inability of the neoclassical approach to explain some of the more important stylized facts of the development process. We show how the scheme proposed can explain these facts and, in this perspective, what are the internal and external constraints to economic development. Finally, we illustrate our argument with a brief summary of our research on the recent development of the Brazilian economy.
Vol.24, n.o2(94), 2004
Metas de inflação em perspectiva: a influência do trinômio reputação-credibilidade-transparência sobre a economia
Gabriel Caldas Montes
Inflation targets in perspective: the influence of the reputation-credibility-transparency trinomial on economics. Although target regime seeks to serve as a reference for the expectation formation process of the agents, its implementation does not necessarily imply the acquisition or the best result in terms of economic growth. The present article aims the development of a model that explains, by firms' investment decisions, the prodict path behavior, undertaking monetary authority may present distinct situations associated with the reputation-credibility-transparency trinomial. The article also detaches different kinds of reputation and its degrees.
Vol.28, n.o4(112), 2008
Origens e desenvolvimento das township and village enterprises (TVEs) chinesas
Gilmar Masiero
Origin and development of Chinese township and village enterprises. Township and Village Enterprises (TVEs) performed an important role during China’s rapid economic development. Based on a review of the recent literature on these “engines of growth,” this study characterizes TVEs and their contribution to China’s development trajectory. It draws attention to institutions that are key to explaining TVEs, including responsibility contracts and organizational structure. It concludes that the paradigmatic experiences of TVEs have played an important role in terms of employment and export generation which contributed to China’s sustained levels of economic growth and development.
Vol.26, n.o3(103), 2006
Celso Furtado e o pensamento econômico brasileiro
Guido Mantega
Celso Furtado’s works mark both the appearance and the consolidation of the Brazilian economic thought. His main works (like Formação Econômica do Brasil and Desenvolvimento e Subdesenvolvimento) established the reference basis to economic debate that has taken place iii the last thirty years in Brazil. The theory of underdevelopment, elaborated by Celso Furtado, supplied the theoretical basis of development, the doctrine which guided the several Latin American government’s economic policy, and asserted the establishment of the industrialization in Brazil. This article seeks to recompose the steps for constitution of the theory of under-development, explaining the main theoretical questions about that problem and its practical results.
Vol.9, n.o4(36), 1989
Productivity, wages, profits, and exchange rates in an era of globalization
Hartmut Elsenhans
World-wide devaluation races lead to the globalization of rent instead of profit and autonomy of civil society. This specific pattern of today's globalization goes with serious underconsumptionist tendencies as self-sufficiency in wage goods production is achieved in economies with a very low marginal product of labour in agriculture and structural unemployment which disempowers all labour. The 19th century likewise intensive globalization was characterized by full employment tendencies, rising real wages and an expansion of the welfare state. A return to such a convoy model of globalization is possible through marginality reducing development policies for uplifting the poor in the South.
Vol.22, n.o1(85), 2002
A teoria da credibilidade da política monetária
Helder Ferreira de Mendonça
This paper analyzes the main arguments concerning credibility theory for monetary authority from the mainstream literature. In this sense, the origin of the debate entitled rules versus discretion is examined and the advances in literature from the central bank independence proposal. The findings denote that the problem of the inflationary bias for conduction of monetary policy is a result of a set of ad hoc hypothesis used by the literature. Thus, the developments in the literature concerning the credibility from inflationary bias represent a particular case for monetary theory.
Vol.22, n.o3(87), 2002
A ética ambiental e o desenvolvimento sustentável
Henrique Tomé Costa Mata e José Euclides A. Cavalcanti
This article is about some principles on environmental ethics and conceptual discrepancies in the application of classical theories on discount rate and the economic efficiency in the context of sustainable development. The inconsistency of discount rate, in the environmental context, is understood as an essential element for deontological and environmental argumentation. The objective is to present an explanation about this problem, based on recent theoretical development of economic of natural resources and some environmental valuation techniques, aiming at sustainable development.
Vol.22, n.o1(85), 2002
A questão da terra
Ignácio Rangel
This paper analyses some relationships between the agrarian problem and the process of capita-list development in Brazil. It argues that the increase of productivity associated with the deepening of the social division of labor changes the relations of production in the agricultural sector. The peasantry firstly linked to the feudal latifundia becomes wage labor hired in seasonal basis for the capitalist farms. In this context, the land problem emerges as a financial issue associated basically with the land price. As a result the agrarian reform based on the purchase of large areas by the government will not be a solution for the agrarian problem since it will support an increase in land prices.
Vol.6, n.o4(24), 1986
Esta crise não se administra
Ignácio Rangel
The author characterizes the Brazilian economic crisis within the context of the present world economic situation based on an analysis utilizing the concept of the Kondratieff economic cycle. He reaffirms the necessity to prioritize economic growth and indicates measures which could be taken for the reorientation of domestic production, the development of new financing mechanisms and the redefinition of Brazil’s relationship with the rest of the world, oriented not only in terms of managing the present crisis but also overcoming it.
Vol.3, n.o3(11), 1983
Recursos, emprego e financiamento do desenvolvimento: produzir sem destruir
Ignacy Sachs
This paper starts denying the optimist belief that growth alone will be able to solve the employment problems of Brazil. Anyway in the 80s growth was reduced in Brazil due to the external pressure. But Brazil disposes of a huge internal market. In order to resume growth what is necessary is a development strategy that preserves the natural resources of the country. This strategy should avoid the opposite mistakes of “ecologism” and “economism”. The essential task is to build a “development reserve” in order to avoid the loss of resources, that may be origi-nated from the sub or the super-utilization of resources. An inventory of measures in this direction is presented in the final part of the paper.
Vol.10, n.o1(37), 1990
Internacionalização da economia ou desenvolvimento endógeno? os lances da crise no Brasil
Ignacy Sachs
As a way out for the indebtedness crisis the economists of the World Bank and the IMF have been advocating the outward looking development’s thesis. The degree of the opening of the economy and the dynamics of the foreign trade were promoted to the level of true indicators of development without concern with the social and ecology costs of the exports. The inadequacy of this strategy for the third world countries, the feasibility of a moratorium and the advantages of a introverted growth, mainly in the Brazilian case, are analyzed in this paper. Some obstacles which Brazil will face in the retake of economic growth are also focused.
Vol.4, n.o3(15), 1984
The brazilian swindle and the larger international monetary problem
James K. Galbraith
The IMF’s recent loan to Brazil is best seen as a mechanism of political control rather than economic assistance, except in a very unsustainable short run. Thus hard choices between the priorities of Brazil’s working population and those of international creditors cannot be avoided. This essay explores policy options, and goes on to suggest that while the financial sector is certain to dominate American policy discussion in these matters, it would be wiser to view the larger national economic interest of the United States as aligned with those who advocate stable and sustainable national development in Brazil.
Vol.23, n.o1(89), 2003
Políticas comercial e cambial em programas de ajustamento voltados para o crescimento
Jeffrey D. Sachs
The search for “adjustment programs oriented towards growth” is a reaction to a generalized disagreement with the stabilization programs that the IMF recommends for the indebted nations. A new orthodoxy is emerging from this situation, which relates the recuperation of the debtor na-tions to a change to development oriented to the external sector, based on the liberalization of in-ternational trade. This article describes many important limitations of this new orthodoxy. The strong emphasis ou liberalization has no historical basis and does not really correspond to the ex-periences verified in the successful Far Eastern economies. Moreover, it diverts attention from the more urgent needs of the indebted economies.
Vol.8, n.o2(30), 1988
Bancos públicos em sistemas financeiros maduros: perspectivas teóricas e desafios para os países em desenvolvimento
Jennifer Hermann
The paper discusses two theoretical approaches to the role of public banks (PBs): the Shaw-McKinnon model and an alternative Keynesian view. In the former, the PBs still in operation in less developing countries would be near to become fully unnecessary, in view of the advance of their financial development in the last twenty years. In the Keynesian approach this hypothesis is unlikely. Financial markets are viewed as structurally inefficient and “incomplete” for the requirements of the process of economic development. Nevertheless, it is undeniable that economic and financial development will require a definition of new strategies for PBs. The paper is concluded with a brief discussion of this issue.
Vol.31, n.o3(123), 2011
Limites do desenvolvimento científico e tecnológico no Brasil
João Antônio de Paula
The purpose of this article is to establish the social, political, economical and cultural elements that are in the basis of the constitution of any process of scientific and technological development in order to consider the specificity and the limits of the Brazilian path in this matter.
Vol.19, n.o2(74), 1999
Nova estratégia de desenvolvimento para o Brasil: um enfoque de longo prazo
João Paulo de Almeida Magalhães
New Development Strategy for Brazil: a long-term vision. The foremost aim of the article is to propose a new development strategy for Brazil, replacing the neoliberal model presently used. In short, the point is to recover a long term vision of the economic policies. And for that it is indispensable to take into consideration the recent evolution of the Development Economics which considers the existence of market, instead of the availability of savings, as the main condition in economic development policies. The acceptance of the market as the basic condition for successful development policies has as one of its consequences the unacceptability of the process of globalization with its present characteristics.
Vol.26, n.o2(102), 2006
Crescimento clássico e crescimento retardatário: um novo enfoque para políticas de desenvolvimento
João Paulo de Almeida Magalhães

O artigo defende a tese de que, diferentemente do que acontece nos países desenvolvidos, em que o crescimento depende dos níveis de poupanças e de inovações tecnológicas, nos países subdesenvolvidos o crescimento está condicionado à disponibilidade de mercado. Em termos de política econômica, isso significa que nos desenvolvidos o esforço deve ser no sentido da criação de poupanças e inovações tecnológicas de nível adequado, enquanto nos subdesenvolvidos o importante é garantir mercado do dinamismo e dimensões necessários à eliminação de seu atraso econômico. O não reconhecimento dessa diferença, resultante de a Economia do Desenvolvimento não ter proposto modelo específico para o crescimento retardatário, tem levado a sérios erros nas políticas de desenvolvimento.  

The article argues that, unlike what happens in developed coutries, where growth depends on the levels of savings and technological innovations, in developing countries growth is subject to market availability. In terms of economic policy, this means that in developed countries the effort should be towards the creation of savings and technological innovations in appropriate level, while in developing countries the important is to ensure market dynamism and dimensions necessary for the elimination of their economic backwardness. Failure to recognize this difference, resulting from the development economics not proposing specific model for the laggard growth, has led to serious errors in development policies.

Vol.36, n.o1(142), 2016
Por que novo-desenvolvimentismo?
João Sicsú, Luiz Fernando de Paula e Renaut Michel
Why new-developementalism? This paper develops some general guidelines that should take part of a new view of development to Brazil, in opposition to the neoliberal project. This alternative, that is called ‘new developmentalism’, should include sustained economic growth with social equity.
Vol.27, n.o4(108), 2007
Ajustamento estrutural e crescimento agrícola na década de 80: notas adicionais
Joaquim Bento de Souza Ferreira Filho
This paper deals with some aspects of the Brazilian agriculture development in the near past. The growth rate differential between agriculture and industry in the 80’s was first analysed. The conclusion is that the kind of structural adjustment the Brazilian economy has faced at that time has favored agriculture to grow faster than the industrial sector. The fall in the national income caused by the external savings interruption has mainly affected investiment, made out interelly of industrial products. In this way, industrial growth was much more severelly affected than agriculture. But this would not suffice to explain the real agriculture growth then. So, it was found that there was also an important supply side stimulus to agriculture, due to a huge reduction in the agricultural production costs. This has certainly been an important factor related to agriculture growth in the 80’s.
Vol.18, n.o4(72), 1998
Subdesenvolvimento sustentável? Velhas e novas contradições na periferia do capitalismo
Jorge Luís Teixeira Àvila e Roberto Luís de Melo Monte-Mór
This paper addresses the concept of sustainable development and, more particularly, its applicability in underdeveloped economies when analyzing reciprocal effects between economic organization and environmental issues. It also addresses the relationships between development and underdevelopment, from an ecological economics’ approach, and its theoretical implications regarding the concept of sustainable development. We conclude that the specificities of Latin American economies, when compared to those economies of developed countries, also entail, beyond economical disparities, the existence of strong antagonisms from an environmental standpoint, which are recurrently ignored by most of the interpretations concerning sustainable development.
Vol.31, n.o3(123), 2011
Dezoito anos depois de lucro, acumulação e crise: uma análise sobre desenvolvimento econômico, progresso tecnológico e distribuição
José Antônio Rodrigues da Cunha
This paper revisits Bresser-Pereira´s (1984, 1986, 2002) integrated analysis on economic development, technological progress and functional income distribution. That analysis combines pure economic theory aspects and historical aspects in an innovative perspective. Criticisms about the succession of phases of capitalism development tentatively advanced by Bresser-Pereira (1984, 1986) are offered, as long as suggestions for further research.
Vol.24, n.o4(96), 2004
Determinantes da recuperação do emprego formal no Brasil: evidências para o período 2001/2005 e hipoteses para uma agenda de pesquisa
José Celso Cardoso Junior
Decisive factors affecting the recent increase in formal employment in Brazil. This paper gives a general overview of the evolution of labour market indicators between 1995 and 2005 in Brazil. It shows an overall increase in formal employment rates from 2001 to 2005, as opposite to what had happened from 1995 to 1999. It is argued that such recent trends might indicate the reconfiguration of the labour market in better terms, with potential positive consequences to the finance performance of the Social Security sector. The paper also examines some of the major factors associated with this new trend and their chances to maintain such tendency in the near future. It's important to notice that all of them may be subject to some kind of political management by the State. In other words, we suggest that there are suficient instruments and operative skills in the Brazilian State to make these and others factors work in favour of a more persistent strategy of development with social inclusion through labour.
Vol.29, n.o4(116), 2009
Indicadores socioambientais: evolução e perspectivas
José Eli da Veiga
Social-environmental indicators: evolution and perspectives. This article deals with the balance of sustainability indicators and/or sustainable development indicators. Major gaps and blocks - both conceptual and operational - still hinder the socio-environmental governance from avoiding “blind flights”.
Vol.29, n.o4(116), 2009
Para repensar o papel do estado sem ser um neoliberal
José Luís Fiori
This article deals with some of the elements on the debate on the reform of the Brazilian State, which is taking place at the present time. It takes it to account the Keynesian origin of the contemporary interventionism and the trajectory of the implementation of national program of industrialization. This program was, at first, discussed in the 1930’s and later, in the 1940’s, delt theoretically by CEPAL. It deal with the bottlenecks created by the indus-trialization and argues that the crisis of the 1980 s were due to the contradictory nature of the financial crisis of the public sector. Finally, it proposes some basic ideas for the reform of the state as a condition to a new strategy of development.
Vol.12, n.o1(45), 1992
Progresso tecnológico, termos de troca e desenvolvimento desigual
José Luis Oreiro
This article presents a modified version of Dutt's two sector growth model, with the purpose of demonstrate the existence of an inverse relationship between decline in terms of trade and uneven development between North and South. It is shown that in the case where technological progress is reversible in the sense that firms in the North can revert to the adoption of technologies intensive in the use of primary goods manufactured in the South, this reversion been induced by the decline in terms of trade; this decline will be followed by a reduction, not by an increase, in the capital stock in the North relative to the capital stock in the South. This result is a generalization of Dutt's model, which considers a situation where technological progress is irreversible.
Vol.23, n.o1(89), 2003
Prêmio de risco endógeno, metas de inflação e câmbio flexível: implicações dinâmicas da hipótese Bresser-Pereira para uma pequena economia aberta
José Luís Oreiro
This article presents a modified version of Dutt´s two sector growth model, with the purpose of demonstrate the existence of an inverse relationship between decline in terms of trade and uneven development between North and South. It is shown that in the case where technological progress is reversible in the sense that firms in the North can revert to the adoption of technologies intensive in the use of primary goods manufactured in the South, this reversion been induced by the decline in terms of trade; this decline will be followed by a reduction, not by an increase, in the capital stock in the North relative to the capital stock in the South. This result is a generalization of Dutt´s model, which considers a situation where technological progress is irreversible.
Vol.22, n.o3(87), 2002
Microeletrônica e automação: a nova fase da indústria automobilística brasiliera
Jose Ricardo Tauile
This paper deals with the socio economic implications of the technical basis in Brazilian auto-mobile industry, due to the diffusion of microelectronics automated equipment. It is shown that this industry has entered a new phase of greater integration with the industry at the world level, both in technical and economic terms. Automation based on microelectronics is being used to support patterns of production of increased efficiency. Outdated capital-labour relations in the industry may begin to evolve accordingly with the new political development towards democratiza-tion of the country.
Vol.6, n.o3(23), 1986
Novos padrões tecnológicos, competitividade industrial e bem-estar social: perspectivas brasileiras
José Ricardo Tauile
This text begins by exploring the Japanese Model of industrial relations and organization as an alternative to the crisis of fordism-taylorism occurring in Eastern Developed Countries.. Acknowledges for such, the importance of improved capital-labour relations, i.e., workers’ participation in the definitions and in the benefits of common objectives that results for example in better income distribution. Taking the Brazilian case it is diagnosed that the present model of “development” is leading the country to chaos. Radical economic, social and political changes are required to recreate a contemporary model of capitalist development based on Brazilian specifi-cies. In such model social welfare is one of its major economic strengths, a genuine international competitiveness will naturally result from the strengthening of the internal market and labour is not merely considered a cost of production but an important resource for building dynamic comparative advantages.
Vol.9, n.o3(35), 1989
A acumulação produtiva no capitalismo contemporâneo
José Ricardo Tauile e Luiz Augusto E. Faria
Virtuality, immateriality and the development of even more abstract forms of wealth are characteristics of contemporary capitalism. Nevertheless, the course of accumulation needs productive labor. The transformations hidden under these appearance forms are viewed in the light of Marx’s thought in three different ways. 1. The new forms of productive labor that challenge the distinction of productive and unproductive. 2. The transformation of productive capital through concentration, centralization and changing forms of competition. 3. The relationship of productive capital and finance capital, and the new role of money capital.
Vol.24, n.o2(94), 2004
Mudança em tempos de globalização: o capitalismo não é mais progressista?
José Ricardo Tauile e Luiz Augusto E. Faria
Change in times of globalization: is capitalism not progressive any more? Technical progress and economic development are promotions of capitalism, says a well known idea hereby contradicted. Recent changes under neoliberalism show that the more freedom of move to capital the less development of productive forces. There was no synchronicity and coherence fostering economic growth between changes at the micro level of techno-productive and managerial innovations and the ones at the macro level of institutional structures and economic policy. Empowerment of finance capital and monopolies got them opportunity to control the state and set its economic policy to support fictitious capital accumulation and to rule restructuring of corporate management. Surplus redistribution favoring finance capital is a burden to be carried on the back of society’s productive structures, lowering investment, employment and growth. Focusing Latin America and Brazil, the same picture is seen, worsened by external fragility that deepens historical dependency.
Vol.25, n.o3(99), 2005
Brasil e américa latina após a guerra fria
José Serra
The end of the Cold War and the revolutionary transformation of the Second World have provoked a pessimistic wave about the destiny of the Third World, now called “South”. The death of the State Socialism does not necessarily determines a future of misfortunes to that group of countries, including Brazil. Some “South” countries will escape from an ob-scure destiny but others will not, depending upon the competence of their elites and of their political forces in order to define and implement a national development project. This article deals with the context in which Brazil and Latin America are after the Cold War.
Vol.12, n.o1(45), 1992
O desenvolvimento da indústria bélica no Brasil e seu processo de spin-off
José Wladimir Freitas da Fonseca
The objective of this article is to analyze the spin-off in the Brazilian military in-dustry. Two important points can be observed in the existing literature: first, the veri-fication that the spin-off has not occurred in the Brazilian case; and second, the lim-ited number of case studies on this subject. This article, which is based to a large extent on the author previous work, argues that there has been technology transference from the Brazilian military industry to the car industry. By taking into consideration the development of the Brazilian military industry, it is possible to identify four factors which are responsible for the promotion of the spin-off: the origin ‘of technology; the way in which the development of this technology occurs; the relationship between the military and civil sectors involved in the transference of technology; and finally the industrial mobilization.
Vol.20, n.o3(79), 2000
More instruments and broader goals: moving toward the post-washington consensus
Joseph E. Stiglitz
In this lecture the author acknowledges the failure of the “Washington Consensus” in promoting economic growth and proposes a new consensus where the state has again an active role. He starts from some lessons of the Asian crisis and concludes for the need of broadening the goals of development.
Vol.19, n.o1(73), 1999
Resuming Growth in Latin America: short and long term policies
Julio Lopez G. e Fernando Cardim de Carvalho
The authors of this paper assert that the paralysis of the state generated by the crises of the 1970s and 1980s deprived the economies of the region of an important lever to resume and sustain growth. They thus maintain that to overcome stagnation it will be necessary to reconstruct the state’s capacity to implement pro-growth policies. Following Keynes’s and Kalecki’s ideas, but also classical development economists, the authors argue, first, that short-term macroeconomic policies, to reduce unemployment and to increase the degree of capacity utilization, should be used to promote the generation of profits to firms and to wake up entrepreneurs’ animal spirits. Short-term expansionary policies should be coupled with measures to improve competitiveness and avoid balance of payments problems. They also claim that alternatives to the liberal programme will fail unless a pro-growth strategy is adopted which includes both short- and long-term policies. They thus propose that long-term policies must complete the package, signaling: a) sustained increases of effective demand in the future; and b) investment priorities to ensure that capacities will be created in strategic sectors and branches of the economy.
Vol.28, n.o3(111), 2008
Michael Kalecki, um pioneiro da teoria econômica do desenvolvimento
Julio Lopez G., Martín Puchet A. e Michael Assous
Michal Kalecki, a pioneer of development economics. Kalecki made important contributions to development economics, which rank him among the founding fathers of this area of our discipline. The objective of this paper is to give an account of his contributions, and in particular of his conception of the peculiarities and the way of functioning of the underdeveloped economies, and of the barriers that limits their capacity for high and sustained long run growth. As most socialist economists of his time, he was skeptic about the possibilities of overcoming underdevelopment under capitalism. However, in contradistinction to other pioneers of development economics, Kalecki did not stress the international forces that hamper development, but put the accent rather in the internal institutions and social and political determinants. In particular, the feudal and semi-feudal conditions in agriculture, the reduced market ensuing from income concentration and widespread monopolization of the economy, and the lack of willingness of entrepreneurs to carry out the necessary investments. Accordingly, his economic policy recommendations emphasized also the domestic aspects involved.
Vol.29, n.o2(114), 2009
Heterarchies and developmental traps
Laszlo Bruszt
State capacity to resist powerful predatory economic groups is highly dependent on the way social diversity is represented within the polity. Such state capacity is weak when a single branch of government can usurp the representation of public good between two elections. In some democracies that I call heterarchies, coalition partners, parties in different houses of the legislature, different levels and branches of government, autonomous state agencies compel executives to take into account diverse modes of representation while making their programs and policies. Such constraints on executive authority allow the state to rise above the direct distribution of powers and interests within the economy. In the paper I use the Russian case to analyze the relationship between state weakness and the related problems of economic development.
Vol.21, n.o1(81), 2001
Ciência econômica e modelos de explicação científica: retomando a questão
Leda Maria Paulani
Economic science and scientific explanation models. Economics was born under the sign of methodological vagueness. The first author who tried to solve the question (John Stuart Mill) asserted that it is a kind of knowledge that uses the abstract (direct deductive) method but also that it is an exception because for all other phenomena in the field of moral science the correct method is the inverse deductive or historical method. On the other side, functionalist explanations that are condemned by the scientific precepts of economics are present in the science since its beginning with Adam Smith. Economics went ahead without worriment about these methodological issues but this indefiniteness has never gone off stage. Since the start of XXI century new facts are emerging. Developments in Psychology are giving a new breath to Friedman’s point of view and seem to fortify the mainstream (Rogebert e Nordberg, 2005), whereas unfolding in complexity science promises to throw it down and put in its place another kind of explanation borrowed from Biology (Beinhocker, 2006). All this stimulates to retake the question. We do this here, under a critical vision, taking the taxonomy of scientific explanations framed by modern positivism.
Vol.30, n.o1(117), 2010
Finance, development and the Chinese entrepreneurial state: A Schumpeter- Keynes – Minsky approach
Leonardo Burlamaqui

The paper’s central claim is that China’s speed and ability to leapfrog its peer-nations in the last three decades stems, largely, from the fact that it is a fully developed Entrepreneurial State (ES). The discussion seeks to dig deeper on ES as a bridging concept that fits well with the Schumpeter-Keynes-Minsky analytical framework and one that is particularly appropriated analyzing contemporary China’s development trajectory. Although rooted in a historical perspective and using historical examples, the main purpose of the paper is analytical, not descriptive.

O argumento central do trabalho é que a o sucesso da China, e de várias empresas chinesas, em ultrapassar seus competidores em termos de mudança estrutural, upgrading tecnológico, velocidade de crescimento e gerenciamento de crises se deve ao fato de ter um Estado Empreendedor como instituição-chave de sua estratégia de desenvolvimento. A discussão subsequente explora o conceito de Estado Empreendedor dentro de uma abordagem analítica amparada nas ideias de Schumpeter, Keynes, e Minsky. A conclusão é de que ambos, a abordagem e o conceito, são particularmente adequados para a compreensão da trajetória recente de desenvolvimento da China. Embora apoiado em exemplos e considerações históricas, esse é um trabalho de corte analítico, e não descritivo.

Vol.35, n.o4(141), 2015
Knowledge governance, innovation and development
Leonardo Burlamaqui
This paper aims to be a very preliminary effort to contribute to a better understanding of the interaction among innovation, competition and intellectual property policies from an evolutionary- developmental perspective. As such, it seeks to build a more coherent framework within which the discussions of both institution building and policy design for development can proceed. In order to accomplish that, the paper introduces the concept of “Knowledge Governance” as an alternative analytical and policy- oriented approach, and suggests that from a public policy/public interest perspective, and within an evolutionary framework, it is a better way to address the problems concerning the production, appropriability and diffusion of knowledge. In doing so, it also intends contribute to broaden the ongoing discussions on the “New Developmentalism”.Keywords: globalization; governance; competition; intellectual property; antitrust
Vol.30, n.o4(120), 2010
Innovation, competition and financial vulnerability in economic development
Leonardo Burlamaqui e Jan Kregel
The financial sector has been viewed traditionally as either providing the “oil” for the “wheels of commerce” or as a parasite on the real sector of the economy where real productivity gains provide for increasing real wages and per capita incomes. The present paper takes a different route and attempts to an analysis of financial institutions on a par with the production sector of the economy. It also develops a link which amalgamates “the knowledge-based” perspective on firms’ operations with Schumpeterian financial leverage to exploit productivity enhancing innovations, and Minsky’s tendency towards financial fragility. The analysis also leads to some policy recommendations concerning financial regulation, risk management and financial institution’s building.
Vol.25, n.o2(98), 2005
As formas de organização "em rede": configuração e instrumento de análise da dinâmica industrial
Leonel Mazzali e Vera Mariza H. Miranda Costa
The transition from the 80’ s to the 90’ s points to the growing of a new pattern of industrialization and development. In this process, new forms of intra and inter firms organization develop. The purposes of this paper are to characterize the “new” form of firm organization, “network”, and to discuss the theoretical basis which support this new kind of shaping the management of the inter-dependences among the economic agents. Two main lines are identified, centered, respectively, in the allocation and in the creation of resources, that give distinct visions of the organization process and of the delimitation of the inter-relations among firms.
Vol.17, n.o4(68), 1997
As equações quantitativas e seu alcance analítico
Luiz Afonso Simoens da Silva
This article presents a review of literature and debates on quantity equations and monetary theory. There follows the outlines of a general critique on the concept of velocity of circulation of money and the inconsistency of the neoclassical assumptions. It ends up by concluding that quan-tity equations are not important to the development of a monetary theory.
Vol.7, n.o4(28), 1987
Structuralist macroeconomics and the new developmentalism
Luiz Carlos Bresser-Pereira

This paper first presents some basic ideas and models of a structuralist development macroeconomics that complements and actualizes the ideas of the structuralist development economics that was dominant between the 1940s and the 1960s. A system of three models focusing on the exchange rate (the tendency to the cyclical overvaluation of the exchange rate, a critique of growth with foreign savings, and new a model of the Dutch disease) shows that it is not just volatile but chronically overvalued, and for that reason it is not just a macroeconomic problem; as a long term disequilibrium, it is in the core of development economics. Second, it summarizes “new developmentalism” – a sum of growth policies based on these models and on the experience of fast-growing Asian countries. 

Vol.32, n.o3(128), 2012
Ignacy Sachs e a nave espacial Terra
Luiz Carlos Bresser-Pereira

This paper is a short survey of the work of Ignacy Sachs – one of the pioneers of structuralist development economics and an outstanding economist dedicated to environmental economics. Sachs is Polish and a disciple of Michael Kalecki, but he is also a Brazilian and a French, given his strong ties with these two countries. He knows the importance of markets in the coordination of the economy, but, as a developmental economist, he attributes a key role to economic planning. Only through the deliberate action of the state it will be possible to achieve economic growth, reduction of inequalities, and protection of the environments – only through deliberate action way men and women will be able to conduct the Spaceship Earth to economic, social and environmental development and assure a decent work to all. 

Vol.33, n.o2(131), 2013
Democracy and growth in pre-industrial countries
Luiz Carlos Bresser-Pereira

Este trabalho distingue três tipos de país (rico, de renda média e pré-industrial) e centra-se no último, que, ao contrário dos outros dois, não completou suas revoluções industrial e capitalista. Um país pré-industrial pode ser governado bem e sob a democracia? Hoje a democracia é um valor universal e, portanto, os países estão sob a pressão do Ocidente e de sua própria sociedade para serem democráticos, embora suas sociedades não sejam suficientemente maduras, nas quais o excedente econômico seja apropriado pelo mercado. De fato, nenhum país completou sua revolução industrial e capitalista no âmbito de uma democracia mínima. Além disso, o país pré-industrial é extremamente difícil de governar, porque ele geralmente não tem uma nação forte e estado capaz. Esta dupla pressão representa um grande obstáculo ao seu desenvolvimento.

This paper distinguishes three types of countries (rich, middle-income, and pre-industrial) and focus on the latter, which, in contrast to the other two, didn’t complete their industrial and capitalist revolutions. Can pre-industrial countries be governed well and under democracy? Today democracy is a universal value, and, so, these countries are under pressure from the West and from its own society to be democratic, even though they do not dispose of mature enough societies in which the economic surplus is appropriated through the market. In fact, no country completed its industrial and capitalist revolution within the framework of even a minimal democracy. Additionally, pre-industrial countries are extremely difficult to govern because they usually don’t have a strong nation and capable states. This double pressure represents a major obstacle to their development.

Vol.37, n.o1(146), 2017
Mudanças no padrão de financiamento do investimento no Brasil
Luiz Carlos Bresser-Pereira
The pattern of financing investment is changing in Brazil. During the 70’s it was based on the classical pattern that prevails in the early stages of development, that is, on state and external fi-nancing. But, in the second part of the 70’s this pattern breaks down as the public sector looser its sa-vings capacity. In the second part of the 80’s, the public sector is supposed to recover partially its saving capacity, while the private sector assumes an increasing role in investment.
Vol.7, n.o4(28), 1987
Inflação inercial e plano cruzado
Luiz Carlos Bresser-Pereira
In February 28 of 1986 the Brazilian government decided to freeze all prices. This “heterodox shock” and the development by Brazilian economists of the theory of inertial inflation, which served as a theoretical basis for the shock, are here discussed.
Vol.6, n.o3(23), 1986
Proposta de desenvolvimento para o Brasil
Luiz Carlos Bresser-Pereira
Testimony to the Committee of Economic, Industrial and Trade Development of the House of Deputies.
Vol.24, n.o4(96), 2004
Globalization, nation-state and catching up
Luiz Carlos Bresser-Pereira
Globalization and nation-states are not in contradiction, since globalization is the present stage of capitalist development, and the nation-state is the territorial political unit that organizes the space and population in the capitalist system. Since the 1980s, Global Capitalism constitutes the economic system characterized by the opening of all national markets and a fierce competition between nation-states. Developing countries tend to catch up, while rich countries try to neutralize such competitive effort, using globalism as an ideology, and conventional orthodoxy as a strategy. Middle-income countries that are catching up in the realm of globalization are the ones that count with a national development strategy. This is broadly the case of the dynamic Asian countries. In contrast, Latin American countries have no longer their own strategy, and grow less. To add data to the argument, the author conducts an econometric test comparing these two groups of countries, and three variables: the rate of investment, the current account deficit or surplus that would indicate or not a competitive exchange rate, and public deficit.
Vol.28, n.o4(112), 2008
Estratégia nacional de desenvolvimento
Luiz Carlos Bresser-Pereira
National Strategy and Development. After a review of the concept of economic growth as a historical process beginning with the capitalist revolution and the formation of the modern national states, the author claims that growth is almost invariably the outcome of a national development strategy. Effective economic development occurs historically when the different social classes are able to cooperate and formulate an effective strategy to promote growth and face international competition. It follows a discussion of the main characteristics and of the basic tensions that such strategies face in the central countries which first developed, and in the underdeveloped countries, which, besides their domestic problems, confront major challenges in their relations with the rich countries.
Vol.26, n.o2(102), 2006
Decisões estratégicas e overlapping consensus na América Latina
Luiz Carlos Bresser-Pereira
The paper, first, summarizes Latin American structuralism, and offers reasons why it was so influential and durable in the region, as it attended to real demands, and was part of 1950s’mainstream economics. Second, says why, with 1980s’Great Crisis, structuralism eventually ended itself into crisis, as it was unable to keep pace with historical new facts, particularly with the industrial revolution or take-off, that made Latin American economies intermediary, still developing, but fully capitalist. Third, it lists the quasi-consensus or overlapping consensus that today exists on economic development. Forth, opposes ‘official orthodoxy’ to ‘developmental populism’, the former deriving from neoclassical economics, the later from structuralism, and offers, in relation to six strategic issues, a development alternative.
Vol.21, n.o4(84), 2001
A teoria do desenvolvimento econômico e a crise de identidade do Banco Mundial
Luiz Carlos Bresser-Pereira
This paper discusses World Bank’s identity while surveys development economics. Three crises are identified: (1) the Bank was created to finance state infrastructure projects according to the development economics relevance given to externalities, but since the neoliberal wave dominated Washington, its mission lost clarity; (2) the Bank, that is supposed to finance development, stooped to have a positive cash flow with many developing countries; and (3) the Bank is assumed to support growth of the developing countries, but in the debt crisis it clearly aligned with its major shareholders. Yet, the Bank keeps a major role in the world, as it is increasingly turning into a service institution counts with highly competent economists, as it supports much needed market oriented reforms, and as it promotes investments in human capital
Vol.15, n.o1(57), 1995
Reflexões sobre o Novo Desenvolvimentismo e o Desenvolvimentismo Clássico
Luiz Carlos Bresser-Pereira

 Este artigo, inicialmente, distingue, primeiramente, o Novo Desenvolvimentismo, um novo sistema teórico que está em criação, do desenvolvimentismo realmente existente, que foi responsável pelo desenvolvimento original de muitos países, mas muitas vezes é apenas uma forma de populismo fiscal ou keynesianismo vulgar. Segundo, o distingue o Desenvolvimentismo Clássico, que o precedeu. Terceiro, brevemente analisa o chamado “social-desenvolvimentismo” e nada vê ali que se aproxime de uma teoria. Finalmente, o artigo fornece um resumo do Novo Desenvolvimentismo – seus principais argumentos no campo da economia política, da teoria econômica e da política econômica.

 Reflecting on new developmentalism and classical developmentalism. This paper, first, distinguishes new developmentalism, a new theoretical system that is being created, from really existing developmentalism – a form of organizing capitalism. Second, it distinguishes new developmentalism from its antecedents, Development Economics or classical developmentalism and Keynesian Macroeconomics. Third, it discusses the false opposition that some economists have adopted between new developmentalism and social-developmentalism, which the author understands as a form of really existing developmentalism; as theory, it is just a version of classical developmentalism with a bias toward immediate consumption. Finally, it makes a summary of new developmentalism – of its main political economy, economic theory and economic policy claims.

Vol.36, n.o2(143), 2016
Five models of capitalism
Luiz Carlos Bresser-Pereira

Besides analyzing capitalist societies historically and thinking of them in terms of phases or stages, we may compare different models or varieties of capitalism. In this paper I survey the literature on this subject, and distinguish the classification that has a production or business approach from those that use a mainly political criterion. I identify five forms of capitalism: among the rich countries, the liberal democratic or Anglo-Saxon model, the social or European model, and the endogenous social integration or Japanese model; among developing countries, I distinguish the Asian developmental model from the liberal-dependent model that characterizes most other developing countries, including Brazil. 

Vol.32, n.o1(126), 2012
An account of new developmentalism and its structuralist macroeconomics
Luiz Carlos Bresser-Pereira
This is a personal account of the identification and definition of “new developmentalism” – a national development strategy alternative to the Washington consensus –, and of a “structuralist development macroeconomics”: the sum of concepts and models that justifies theoretically that strategy. It is personal account of a collective work involving Keynesian, institutionalist and structuralist economists in Brazil. It is Keynesian because it emphasizes the demand side or the investment opportunities’ side of economic growth. It is structuralist because it defines economic development as a structural change from low to high value added per capita industries and because it is based on two structural tendencies that limit investment opportunities: the tendency of wages to grow below productivity and the tendency to the cyclical overvaluation of the exchange rate.
Vol.31, n.o3(123), 2011
Uma escola de pensamento keynesiano-estruturalista no Brasil?
Luiz Carlos Bresser-Pereira
A new Keynesian-struturalist school of thought is emerging in Brazil. It is formed by a Structuralist Development Macroeconomics that offers scientific explanation to New Developmentalism – a national development strategy. In this intervention the author delineates its main theoretical claims and policies.
Vol.31, n.o2(122), 2011
Macroeconomia estruturalista do desenvolvimento
Luiz Carlos Bresser-Pereira e Paulo Gala
Structuralist development macroeconomics. This paper presents some basic ideas and models of a structuralist development macroeconomics (the tendencies to the overvaluation of the exchange rate and the tendency of wages to grow below productivity, the critique of growth with foreign savings, and a new model of the Dutch disease) that complement and actualize the thought of the Latin-American structuralist school that developed around ECLAC from the late 1940s to the 1960s. On the other hand, it suggests that a new national development strategy based on the experience of fast growing Asian countries is emerging; and argues that only the countries that adopt such strategy based on growth with domestic savings, fiscal and foreign trade responsibility and a competitive exchange rate will be able to catch up.
Vol.30, n.o4(120), 2010
Da repressão financeira ao microcrédito
Manfred Nitsch e Carlos A. Santos
Liberalization turned out to be not enough to ensure the provision of financial services to the poor, especially small and micro businesses. Special institutions such as Grameen Bank in Bangla Desh experimented successfully with credit technologies and governance structures which showed the viability of institutions that are at the same time commercially sustainable and target-group oriented. Recent strategies center on upgrading rotating funds of NGOs, downscaling commercial and development banks and starting from scratch with specialized institutions.
Vol.21, n.o4(84), 2001
Produção de energia e modernização de vale do são Francisco
Manoel Correira de Andrade
This article attempts to analyze the methods utilized and results achieved by the State in the policy of Vale do São Francisco’s economic revitalization. The importance of this valley results of its geographical situation; in spite of cutting off a half-arid region, São Francisco is an abundant and perennial river. By reason of its waterfalls, it allows the construction of barrages, which will be used for energy production and for the development of irrigated agriculture as well. The government policy, which has provoked the use of funds and utilization of moderns techniques which have not contri-buted for better living conditions for the local population, is also analyzed. Thus, there is a modernization without social-economic development, in view of the model utilized by State intervention.
Vol.4, n.o1(13), 1984
Sectorial specialisation in east Asia and Latin America compared
Marcela Miozzo
East Asian countries have been successful at specialising in machinery and capital goods. Latin American countries, on the other hand, have retreated from these sectors, reinforcing their specialisation in resource-intensive goods. Institutional arrangements in place in both regions explain these divergences. In particular, the differences in the strategy and structure of leading firms, the nature of industrial promotion by the government, the development and support of small and medium-sized firms and the operation of foreign-owned firms may explain the respective success and failure in sectoral specialisation in machinery. Failure to develop these sectors may hinder the process of economic development.
Vol.22, n.o4(88), 2002
Estrutura fundiária e reforma agrária no Brasil
Marcos Cintra Cavalcanti de Albuquerque
This paper is an attempt to analyze land ownership patterns in Brazil and their relation to economic variables such as production, productivity, land use and profitability. Some conclusions and derived with respect to the implementation of the land reform program and its effects on the economic aspects of the Brazilian agricultural sector. The main conclusions are: a) from an economic point of view land should be treated 011 equal terms with any other factor of production; b) there is no evidence as to land being extensively used with speculative purposes; c) no significant change has been occurring in regard to the heavily concentrated land ownership pattern observed in Brazil; d) no significant differences were observed among different size-group of farms with respect to economic efficiency (partial productivity differences are explained by differences in factor availability and reflect proper resource allocation behavior by farmers); e) land-reform in Brazil, such as proposed by the government, is not the correct policy to promote agricultural growth and development.
Vol.7, n.o3(27), 1987
Banking and regional inequality in Brazil: an empirical note
Marcos Lima e Marcelo Resende
The paper investigates a neglected aspect of regional inequality in Brazil, namely regional inequalities related to financial flows. A synthetic regional financial inequality index is proposed and calculated in a semester basis over the 02-1994/02-2000 period. The inequality measure attempts to capture to what extent deposits in a given state translate into credit operations in that locality. Two main results emerge. First, non-negligible inequality patterns emerge when one considers the segment of private banks and those are consistent with an important proportion of states with a predominantly exporting pattern, for which deposits surpasses loans in that locality. Second, if one focus on the segment of public banks, an opposite pattern appears,that is consistent with decision patterns that might have, in part, a regional development motivation.
Vol.28, n.o4(112), 2008
Crescimento e industrialização no Brasil: uma interpretação à luz das propostas de Kaldor
Marcos Tostes Lamonica e Carmem Aparecida Feijó
Growth and industrialization in Brazil. In this paper, based on the writings of Kaldor and his followers, we compare two phases of Brazilian economic growth, one showing fast growth rate and other with lack of growth. Our aim is to analyze the Brazilian economic behavior in the last 40 years, pointing out economic policy intervention, structural change, foreign trade and capital flows as determinants to account for gross product development path performance. Our aim is to shed some light on which is the potential rate of growth of the Brazilian economy nowadays, considering its historical growth path and recent structural changes in the industrial sector.
Vol.31, n.o1(121), 2011
A evolução da industria petroquímica brasileira e o modelo tripartite de empresa
Marcus Alban Suarez
The evolution of the Brazilian petrochemical industry is analyzed based on the economic development model set up in the second half of the fifties and on the political system established in 1964. The State undefinition in the first period of this industry (48 — 64) holds down the sector growth in the adequate proportion to the economie model requiring a great leap in the second period (64 — 80), possible by the enterprise (association among the State, local capital and multinationals). When the conditions that support this enterprise model are finished, it starts to fall down and the local private entrepreneurs get more dependent on their own capabilities to compete with the multinationals in a process that seems to draw the characteristics of the third phase of the industry.
Vol.3, n.o3(11), 1983
Eugênio Gudin: as controvérsias do neoliberalismo caboclo
Maria Angélica Borges
This article examines Eugênio’s Gudin theorical production that express his new liberal posture, which highlights his opposition to Roberto Simonsen, Cepal’s economic development theory, Marx and followers. Gudin recognized Karl Marx as the biggest enemy of capitalism. He attributed to the thinker the creation of the concept of capitalism with historical connotations. Radically denying this content and balancing the conception of the natural and eternal character of this system, he focused on capitalism as a production system which connects itself harmonically with democracy. He worked with the pair of concepts: economy market and democracy as an antithesis of planning and totalitarism, structuring the discourse that stress the abstract general plan, disregarding a concrete-historical analysis for each specific case. Consenquentely, every aspect that does not fit that pair is considered undemocractic and interventionist, as an equivalent denial of the human ideal, sometimes that should be avoided, or even destroyed.
Vol.20, n.o4(80), 2000
O debate desenvolvimentista: reflexões sobre alternativas desenvolvimentistas marxistas
Maria de Lourdes Rollemberg Mollo

The developmentalism debate. This article examines developmentalism, explaining why certain post-Keynesian propositions should be accepted from a Marxist perspective, and what should be modified within the former approach in order to fulfill a transformative role in society. It also critically contrasts the Marxian and post-Keynesian views of the roles of the state and the market, in order to justify policy alternatives to transform capitalist societies.

Este artigo examina o desenvolvimentismo, explicando por que certas proposições pós-keynesianos devem ser aceitas a partir de uma perspectiva marxista, e o que deve ser modificado dentro da antiga abordagem, a fim de cumprir um papel transformador na sociedade. Também contrasta criticamente os pontos de vista marxista e pós-keynesianos dos papeis do Estado e do mercado, a fim de justificar políticas alternativas para transformar sociedades capitalistas.

Vol.35, n.o4(141), 2015
From restrained golden age to creeping platinum age: A periodization of Latin American development in the Robinsonian tradition
Matias Vernengo

This paper analyzes Joan Robinson’s growth model, and then adapted in order to provide an exploratory taxonomy of Growth Eras. The Growth Eras or Ages were for Robinson a way to provide logical connections between output growth, capital accumulation, the degree of thriftiness, the real wage and illustrate a catalogue of growth possibilities. This modified taxonomy follows the spirit of Robinson’s work, but it takes different theoretical approaches, which imply that some of her classifications do not fit perfectly the ones here suggested. Latin America has moved from a Golden Age in the 1950s and 1960s, to a Leaden Age in the 1980s, having two traverse periods, one in which the process of growth and industrialization accelerated in the late 1960s and early 1970s, which is here referred to as a Galloping Platinum Age, and one in which a process of deindustrialization, and reprimarization and maquilization of the productive structure took place, starting in the 1990s, which could be referred to as a Creeping Platinum Age.

Este artigo analisa o modelo de crescimento de Joan Robinson, aqui adaptado a fim de fornecer uma taxonomia exploratória de Eras de Crescimento. Essas Eras ou Anos de Crescimento foram para Robinson uma maneira de fornecer conexões lógicas entre o crescimento da produção, a acumulação de capital, o grau de frugalidade, o salário real e ilustrar um catálogo de possibilidades de crescimento. Esta taxonomia modificada segue o espírito da obra de Robinson, mas é preciso diferentes abordagens teóricas, o que implica que algumas não se encaixam perfeitamente às aqui sugeridas. A América Latina passou de uma Idade de Ouro na década de 1950 e 1960, a uma Idade de Chumbo na década de 1980, com dois períodos de travessia, um em que o processo de crescimento e industrialização se aceleraram na década de 1960 e início de 1970, que aqui se refere a uma Era Platinum Galopante, e aquela em que um processo de desindustrialização e reprimarização e maquilação da estrutura produtiva teve lugar, começando na década de 1990, que poderiam ser referidos como uma Era Platinum Rastejante.

Vol.35, n.o4(141), 2015
As finanças públicas no "estado novo" 1937-45
Maurício C. Coutinho e Tamás Szmrecsányi
State intervention in the economy and governmental public policies are usually regarded in peripherical economies as one of the main factors in thc development process. According to most historians, the period of the Estado Novo had a great importance in the recent evolution of the Brazilian economy, representing a turning point from the primary-export system to the present one, based on the industrial sector and the internal market. The article intends to test these hypotheses in quan-titative and qualitative terms, by comparing the evolution of Brazilian public finance between 1938 and 1945 with the previous and the ulterior eight year periods (from 1930 to 1937, and from 1946 to 1953).
Vol.10, n.o2(38), 1990
Uma proposta de extensão do "índice de desenvolvimento humano" das Nações Unidas
Maurício Costa Romão
In spite the considerable advance made to the literature on development by the recent United Nations attempt to measuring “human development”, this paper argues that, specially in the context of developing countries, where poverty and inequality are of substantial order, these two dimensions should be integrated and added to the index proposed by that organism. This is accomplished by a new measure that simultaneously take into account indices of poverty, income distribution and human development. Empirical results show that the extension suggested is important and more appropriate for policy purposes.
Vol.13, n.o4(52), 1993
Cantillon e Sismondi sobre população, renda e subsistência
Mauricio Coutinho
Cantillon and Sismondi on population, rent and subsistence. The article compares Cantillon’s and Sismondi’s views on population, rent and wage of subsistence, having Malthus’ law of population as a background. We assume that the XVIII and XIX century controversies on population and economic development provide a good framework for a reappraisal of economics in general, including value and distribution. In our perspective, both Cantillon and Sismondi cannot be put under the umbrella of the Ricardian (or Sraffian) approach to wage and distribution.
Vol.27, n.o2(106), 2007
A nova teoria neoclássica do crescimento e o problema do subdesenvolvimento econômico brasileiro
Newton Paulo Bueno
The purpose of the paper is to show that endogenous growth theory is at best insufficient to explain Brazilian economic underdevelopment. The main reason for this is that this theory gives a major importance to the role of human capital in the process of economic growth which is not justifiable in the Brazilian case. Instead of this, the main problem of the Brazilian economy seems to be the incapacity of its modern sector to absorb the majority of the population. This can not be done only through human capital increase; it requires in first place a major physical investment program in order to enlarge the size of the modern sector nowadays opened only to a minority of the population which is insufficient to allow Brazilian economy recovery.
Vol.18, n.o2(70), 1998
On the Brazilian ground-rent appropriated by landowners
Nicolas Grinberg

This paper presents a measurement of the portion of the Brazilian ground-rent appropriated by agrarian landowners during 1955-2005 and assesses its importance relative to other forms of surplus value appropriated in the Brazilian economy. In pursuing this task, the paper also puts forward original estimations of several time-series that are crucial for the study of Brazilian long-term growth and development. Finally, the paper combines the measurements obtained here with those advanced in Grinberg (2008; 2013b) to present an approximation to the evolution of the total Brazilian ground-rent during 1955-2005. The appendix presents the sources and methodology used for the estimations.

Este artigo apresenta uma medida da parcela de renda fundiária brasileira apropriada por proprietários de terras agrárias durante 1955-2005 e avalia sua importância em relação a outras formas de valor excedente apropriado na economia brasileira. O trabalho também apresenta estimativas originais de várias de séries temporais que são cruciais para o estudo do crescimento brasileiro de longo prazo e desenvolvimento. Finalmente, o papel combina as medidas obtidas com as de Grinberg (2008; 2013b) para apresentar uma aproximação para a evolução do total da renda fundiária brasileira durante 1955-2005. O apêndice apresenta as fontes e a metodologia utilizadas para as estimativas.

Vol.35, n.o4(141), 2015
Flexibilização produtiva e reestruturação espacial: considerações teóricas e um estudo de caso para a indústria de calçados no Brasil e no nordeste
Olímpio J. de Arroxelas Galvão
The process of globalization, the emergence of new technological paradigms, the increasing introduction of market mechanisms in the economies and the formation of regional trade blocs, have brought about deep productive restructuring amongst the various sectors of human activity. These changes are forcing the policy makers to envisage new ways of intervention in the regions, in all countries, so that they can face the new challenges that regional development is posing in the present days. This work attempts to present the major aspects of a new world scenery, characterized by the introduction of processes of productive flexibilization and the creation of new industrial spaces and makes a case study of restructuring in the shoe industry in Brazil.
Vol.21, n.o1(81), 2001
A sobrevivência das pequenas empresas no desenvolvimento capitalista
Oswaldo Guerra e Francisco Teixeira
The survival of small companies in the capitalist development. The role of small companies in capitalist development has raised, throughout the years, the analytical curiosity of economists and other social scientists. In spite of the enormous disadvantages that they possess in competing with big capital, there are innumerable reasons for their survival. The empirical evidence is clear in attesting the importance of small companies in terms of GDP share and job creation and, at the same time, their difficulties for surviving. This paper presents a theoretical revision, departing from Marx, Marshall, Steindl and Schumpeter up to some contemporary authors, concerning the role of the small companies in capitalist development, emphasizing the reasons and the difficulties for its survival.
Vol.30, n.o1(117), 2010
Do populismo às bandas cambiais: a evolução da política cambial no Chile de 1970 a 1999
Patrícia Helena F. Cunha e Paulo Gala
From populism to exchange rate bands: the evolution of exchange rate policy in Chile from 1970 to 1999. We discuss in this paper the evolution of exchange rate policy in Chile since the seventies, with special attention to overvaluation and undervaluation cycles. Following a recent literature that argues in favor of competitive currencies as part of a development strategy, we argue that the Chilean exchange rate policy in the years that go from 1984 until 1999 were very important to its growth results. Chile even managed to go through the nineties without a major external crisis, especially when compared to its Latin American neighbors. We argue here that the exchange rate crawling band adopted in the middle eighties and nineties was important for its growth strategy.
Vol.29, n.o3(115), 2009
Perspectivas de longo prazo na economia brasileira: uma análise exploratória
Pedro Cavalcanti Gomes Ferreira
This article uses Endogenous Growth Theory framework to examine long term prospects of Brazilian economy. We study the behavior of those variables identified by theory as central for development. The article argues that Brazil’s educational system performance is poor even by Latin America standards. There are still too many market restrictions and others barriers to trade and technology adoption. Infrastructure services and investments are deficient and the tax system too concentrated and distorcive. Hence, while these factors persist, it is not likely that the country will grow at sustainable rates comparable to those experienced two decades ago. However, privatization of infrastructure sectors may spur a temporary boom as investment increases to satisfy repressed demand.
Vol.18, n.o4(72), 1998
O mito do populismo econômico de Vargas
Pedro Cezar Dutra Fonseca
The myth of Vargas’ economic populism. The Second Vargas Administration in Brazil (1951-1954) is commonly associated with the phenomenon of populism. However, based on the models of economic populism, it is clear that the economic policy of the period is not the one shown by those models. Besides, based on this historic experience, it is advocated that there is no incompatibility between developmentalism and the adoption of macroeconomic stability-oriented measures.
Vol.31, n.o1(121), 2011
O Estado e suas razões: o II PND
Pedro Dutra Fonseca e Sergio Monteiro
The State and its reasons: the 2nd PND. This paper intends to contribute to the debate on the reasons why the Geisel administration (1974-78) chose – as it faced an adverse conjuncture – an accelerated growth agenda which was materialized in the 2nd PND (National Development Plan). In order to do so, it resorts to a methodological definition which is based upon an institutionalist approach and favors the interaction between the political and the economic variables. Contradicting the literature that interprets the strong presence of the State and the regional decentralization of the 2nd PND as signs of neopatrimonialism, it is advocated that this category of analysis is inadequate to explain the government’s choice, although this aspect is embedded in the Brazilian social-historical formation. The political rationality of the plan must be investigated in the conjuncture itself, marked by the liberalization project, which does not clash with the plan’s economic rationality – on the contrary, it is complemented by it.
Vol.28, n.o1(109), 2008
Uma crítica ao consenso de Washington
Pedro Malan
This was the intervention of the author at the closing Panel of a Conference in Honor of Albert Hirschman on Development Strategies for Latin America. It draws attention to some shortcomings of the so-called “Washington Consensus”, John Williamson’s apt expression to describe the view that better policies lead to better results, worse policies to worse results. This is true but trite, trivial and tautological. The author suggests that there are three types of policies to be addressed: the first is related to the quest for macroeconomic stability; the second to much-needed microeconomic reforms; the third is the missing link in the Washington Consensus and has to do with the resumption of growth and investment with technological change in an increasingly competitive world economy. This requires, in addition to macro-stability and micro-reforms, some visions of the future and a much more effective pattern of interactions between the private/sector and a modernized and active public sector, given the in-terdependence of investment çlecisions in the presence of economy-wide externalities.
Vol.11, n.o3(43), 1991
The economics of the 'third way'
Philip Arestis e Malcolm Sawyer
This paper seeks to outline the type of economic analysis which we perceive to be involved in the ideas on the ‘third way’. In the UK, the emergence and then election of ‘new Labour’ has been closely associated with the development of the notion of the ‘third way’. We sketch out what we see as the analysis of a market economy which underpins the ideas of the ‘third way’, which is followed by some remarks on the role of the State which is also involved. We seek to illustrate our analysis by reference to the policy statements of the new Labour government in the UK.
Vol.21, n.o4(84), 2001
Development and inequalities
Pierre Salama
The rise in wages inequalities, whatever may be the level of development reached, is linked to the modernization of countries, a modernization percieved as a constraint in an ever more globalised world. This tendency is sometimes thwarted by sustained education policies and by restrictive government policies aiming at raising low wages. But as a tendency, it is stronger when countries increase their opening rate and modify the exports structures toward ever more sophisticated products. One can however see how much it is artificial to separate technology from exports in order to measure their respective weight on the rise of inequalities.
Vol.29, n.o4(116), 2009
Desenvolvimento, distribuição derenda e capital estrangeiro: um comentário sobre a cepal 50
Renato Perim Colistete
This article discusses the Cepal’s approach on the role of foreign capital in the industrialization of the Latin America during the fifties. The first section provides a synthesis of Cepal’s vision on the structural changes in the main Latin American economies. The second section shows how the international capital was understood by “cepalinos” thinkers as an alternative way of financing development, in opposition to the radical schemes that were proposed by the nationalists and the left. The concluding section summarizes the main points of the paper.
Vol.12, n.o4(48), 1992
Hirschman e a dessacralização da epopeia do desenvolvimento por um desenvolvimentista
Renato Sérgio Maluf

 Hirschman and the desecration of epic development by a developmentalist. The essay presents a reading of Albert Hirschman’ work aiming at highlighting his differentiated approach to economic development while exploring the economic, social and political dimensions involved in joining economic growth and social equity. Some concepts and references gain importance in this effort such as possibilism, hidden rationalities, unbalanced growth, social conflicts, unintended consequences and open solutions. Latin American countries are the main empirical reference, with specific concerns on the food question involved in development processes. 

Vol.35, n.o1(138), 2015
Comercialização agrícola e desenvolvimento capitalista no Brasil
Renato Sérgio Maluf
This paper presents an alternative view of agricultural commercialization iii the capitalist development process in Brazil, in contrast with the functionalist approach derived from neoclassical economic theory. Agricultural commercialization is a capital circulation activity whose form depends on the social organization of agricultural production and the development of capital concentration, both determined by the modernization process of the Brazilian economy. The conclusion remark upon the tendency toward subordination of circulation activities, the growing importance of different types of capital (agrarian, commercial, agro-industrial and “entrepreneurial co-operatives’) and of the financial appreciation of capital used in agricultural production and circulation.
Vol.12, n.o3(47), 1992
Segurança alimentar e desenvolvimento econômico na america latina: o caso do Brasil
Renato Sérgio Maluf
The purpose of this paper is to analyze the determinants of food security and its linkages with economic development in Latin America, with emphasis on the case of Brazil. Using the approach of “Development Economics”, it focuses on the main conditions for economic growth with social equity, having food security as one of them, and its requirements in terms of global and sectorial policies.
Vol.15, n.o1(57), 1995
Globalização e inconversibilidade monetária
Ricardo Carneiro
Globalization and monetary inconvertibility. The central hypothesis of this article is that in the context of globalization, monetary inconvertibility is a crucial problem of peripheral countries. It begins with a brief review of the debate from a historical point of view and then stresses the contemporary opposite’s views on the fragility of financial system of emerging countries: the original sin and the debt intolerance hypothesis. Despite of supporting the first one, the article goes further and explores the domestic implication of inconvertibility. It criticizes the jurisdicional uncertainty proposition showing that an inherent flaw in the store of value of emerging market currencies, derived from original sin is the main reason for de facto inconvertibility and underdevelopment of domestic financial system of these countries.
Vol.28, n.o4(112), 2008
União monetária européia - UME: evolução recente e perspectivas
Ricardo da Costa Nunes e Selene Peres P. Nunes
This paper discusses the uniqueness and the stability of the proposed model for the European Monetary Union - EMU, pointing out some of the difficulties faced in its implementation and the chances of surpassing them. It also suggests how all the points of European monetary integration - central bank independence, balanced budget and stability of the exchange rate within a certain band of fluctuation - are sustained upon the proposition that economy founds auto-adjustment since there is flexibility of wages and prices and the State’s intervention remains as short as possible. Thus, the need of convergence of economical and financial EMU’s criterion and the sufficiency of its achievement to a greater development of Europe in face of other countries bring the discussion back to the theoretical paradigm.
Vol.20, n.o1(77), 2000
Chile, entre el neoliberalismo y el crecimiento com equidad: una sitesis
Ricardo Ffrench-Davis
During Pinochet’s dictatorship deep reforms were implemented in Chile. Certainly, many of them constituted permanent achievements for development strategies in democracy. However, economic growth between 1973 and 1989 was mediocre (averaging only 2.9% annually) and income distribution deteriorated notably. This was related to the fact that the reforms suffered from various flaws that had severe repercussions on the growth of potential GDP and on social welfare. In the 1990s, the governments of the Concertación launched several reforms to the reforms with the goal of injecting “pragmatism”. It focused on decreasing macroeconomic vulnerability when faced with an increasingly volatile external environment and on completing underdeveloped domestic markets. The result of the set of reforms to the reforms was that, during the entire decade, there was an unprecedented vigorous expansion of productive capacity (which averaged 7% per year), along with a significant reduction in poverty (from 45% to 21% of population). A recessive gap in 1999-2001, however, highlighted failures, increasing contradictions and the lack of greater reforms to the reforms.
Vol.22, n.o4(88), 2002
As condições para a saída do atraso
Robert N. Nicol
Ugo Pipitone's book La Salida del Atraso: Un Estudio Histórico Comparativo is reviewed. His main idea concerning the existence of only two preconditions for modernization, namely the presence of a reasonably efficient government which should be freee from corruption and a developed agriculture, is subject to criticism. It is pointed out that other factors such as the stage of cultural and educational development attained by the society in question as well as the income level, the presence of markets for manufactured goods and the existence of an adequate infrastructurem are equally important. It is pointed out that the author´s idea that tipically the modernization process lasts at most two generations (about 50 years), is correct for England and some late starter as Germany and the US, but that this did not hold either for Italy or Japan.
Vol.15, n.o3(59), 1995
Uma mestra na periferia do capitalismo: a economia política de Maria da Conceição Tavares
Rogério P. Andrade e Renata Carvalho Silva
A master in the periphery of capitalism. Maria da Conceição Tavares is an eminent figure in Brazilian economic thought, especially in heterodox circles. She has tackled various issues, such as underdevelopment, from the perspective of a “critique of political economy”. The purpose of this article is to identify the main theoretical references, as well as the methodological stance, in Tavares’s works, by revisiting the author’s critical dialogue with some strands of Political Economy. Although Tavares’s work sets up a dialogue with various economists, the paper will focus on her interpretation of Marx, Keynes and Kalecki, whose ideas are of utmost importance for the construction of her analytical framework.
Vol.30, n.o4(120), 2010
O sistema financeiro e o financiamento do crescimento: uma alternativa pós-keynesiana a visão convencional
Rogério Studart
Financial liberalization models have been for the last nineteen years the foundation of mainstream thinking on the role of financial markets and institutions in economic development and the basis for policy-making in many LDCs. This paper presents a critical appraisal of the financial liberalization literature and points to a alternative view based on Post Keynesian theory. That alternative view is bas-ed on three aspects of monetary economics. First savings does not provide finance: the role of savings is not related to the financing of capital accumulation, but to its funding. Second, capital accumulation increases banks’ fragility, which can be alleviated through funding. Finally, how we model the finance-investment-saving-funding circuit depends on institutions and conventions, which are evolving.
Vol.13, n.o1(49), 1993
A concepção keynesiana das crises econômicas e sua crítica com base em Marx
Rômulo Soares Polari
This article analyzes the limitations of explication and solution offered by Keynes, in respect to the capitalistic economic crisis, in the light of Marx’s ideas. Firstly, it discusses why Keynes even apprehending the capitalism crisis vocation, operating in “laissez-faire” conditions, does not understand its causes, immanent to the development of the capitalistic production relations. It also attempts to show that only in a non-time related perspective, the Keynesian solution would be able to attenuate the contradictions inherent to capitalism and to resolve the problems from its crisis. Finally, it develops new ideas in an attempt to present as sufficiently steady the affirmation that, in the middle and long run the keynesians “remedies” tend to aggravate the contradictions which caused the crisis and create news problems, inconsistent with capitalistic interests.
Vol.4, n.o2(14), 1984
A tendência à harmonização internacional da proteção de patentes e seus problemas
Ronaldo Fiani
The trend towards international harmonization of patents’ protection and its problems. TRIPS agreement has been a milestone in the present trend towards international harmonization of intellectual property’s protection (including patents’ protection), where harmonization means to increase the protection level in developing countries according to the more rigorous standards of developed ones. Considering the economic theory of patents together with historical and empirical evidences, it is argued that international harmonization of patents’ protection as it is settled by TRIPS agreement is not favorable to developing countries’ economic development.
Vol.29, n.o3(115), 2009
Estado e economia no institucionalismo de Douglass North
Ronaldo Fiani
Douglass North’s ideas, notwithstanding his 1993’s Nobel award are still barely known among Brazilian economists. This unawareness is deplorable not only because the relevance of his ideas to current development theory but also for his new (and rather heterodox) contribution to the analysis of the modern State’s economic role. This paper presents a synthesis of North’s discussion concerning the institutional role of the State in the economic system. It is shown that in North’s thought that role comprehends not only the enforcement of property rights but more importantly the definition and attribution of those rights.
Vol.23, n.o2(90), 2003
O acordo de Bretton Woods e a evidência histórica o sistema financeiro internacional no pós-guerra
Samuel Kilsztajn
The Bretton Woods Agreement reflected the United States hegemony in the postwar period and the dollar was linked to the commodity that has historically represented international money — gold. Nevertheless, the other developed countries could not allow currency convertibility until 1958 and in 1960 the dollar crisis was already evident. From the “dollar shortage” to the dollar crisis, Bretton Woods was in fact only a mirage. The most significant aspect of the dollar crisis was certainly the development of the euromoney market. At the present time, with the “gold standard”, on one hand, and projects for an artificial currency, on the other, the international monetary system is evolving toward an oligopolar system.
Vol.9, n.o4(36), 1989
Situando o desenvolvimento rural no Brasil: o contexto e as questões em debate
Sergio Schneider
Addressing rural development discussions in Brazil: context and issues of debate. The work analyzes the main theoretical trends and subjects that integrate the recent Brazilian debate about rural development. We agued that the agenda of the rural development in Brazil, on which actively participate scholars, organizations and institutions, have been formulated by the State and the public politics implemented since the beginning of the 1990. Among the factors that had influenced the emergency of the debate about rural development is distinguished the increasing social and political legitimating of family farming and the agrarian reform, the reorientation of the state policies, the increasing sharply political and ideological quarrels with the agribusiness wing and the matters about sustainability. It is also argued that the analytical and interpretative references that have being used by the scholars are still diffuse and varied, but has been capable to influence the policy makers.
Vol.30, n.o3(119), 2010
Novos modelos previdenciários na América Latina: lições da experiência Argentina
Sidney Jard da Silva
New pension programs in Latin America: lessons from the Argentinean experience. This work analyzes the political constraints of pension reform in Argentina. The first part presents a brief description of the development of pension programs in Latin America. Additionally, it also discusses the pension system crisis and the main proposals in order to overcome this crisis. The second part examines the peculiarities of the Argentine pension reform, with specific attention on economic imperatives and political constraints which have shaped the pension reform project of Menem´s Government (1989-1999). The article demonstrates that there are a large gap between the new system promises and its outcomes.
Vol.28, n.o2(110), 2008
Regionalismo no pacífico asiático: integração econômica orientada pelo comércio externo
Silvio Yoshiro Mizuguchi Miyazaki
This paper analyses the process of regional integration in Asian Pacific region, that has had high economic growth and where there are economies with export led development policies. Traditional concepts of regional integration are described and a new concept, the open regionalism, is introduced. The history and institutions of Asian Pacific integration are presented. The economic interdependency between Asian Pacific countries is analyzed by geese pattern model of economic development.
Vol.16, n.o1(61), 1996
Em memória de Raúl Perbisch (1901-1986)
Steffen Flechsig
Starting from Raúl Prebisch’s personal and intellectual trajectory — from an young neoclassi-cal at service of Argentinean oligarchy to a critical of Latin-American development — this pa-per provides a de tailed analysis and a critical appraisal of his ultimate contribution on peripherical capitalism. In conclusion, it is intended to claim that his search for an alternative appro-ach to Latin-American capitalism has not succeeded in breaking up the boundaries of bourge-ois political economy.
Vol.11, n.o1(41), 1991
Justiça e desenvolvimento no pensamento de Amartya Sen
Thomas H.Kang
Justice and development in Amartya Sen’s though. This article aims to present an overview of Amartya Sen’s thought, relating to his writings on political philosophy and his contributions to the field of development economics. This paper shows how justice and development are highly related in Sen’s approach based on the concept of capability. Along with this paper, we will present some debates between Sen and John Rawls, beside other critics. This is done to explain the complex theoretical system elaborated by him. In concluding, the paper shows that the objective of Sen is to find a satisfactory concept of development that is explicit in its ethical presumptions.
Vol.31, n.o3(123), 2011
Neoliberalismo e distribuição de renda na américa latina
Werner Baer e William Maloney
This paper reviews the principal neo-liberal policy measures instituted in Latin America in the last decade and their impact on equity. It first emphasizes the difficulty of separating the impact of liberalization measures from the necessary fiscal adjust-ments of the 1980s, and their transitional vs long run effects, and then places the ob-served movements in distribution in global and historical context. The second part places several innovations of neo-liberal regimes in historical perspective and argues that their overall impact is unlikely to be regressive, and that previous regimes were probably not especially progressive. Over the long run, developments in factor markets are likely to be of overriding importance — the demand side, driven by reoriented industrial growth and the increasing importance of the service sector, interacting with the relative supplies of skilled and unskilled labor — are likely to be of overriding importance in determin-ing the evolution of the distribution of income.
Vol.17, n.o3(67), 1997
Crise e industrialização no Brasil entre 1929 e 1954: a reconstrução do Estado Nacional e a política nacional de desenvolvimento
Wilson Cano

This paper focuses on the main effects - between 1929 and 1954 - brought about by the economic policy of coffee crisis and industrialization efforts led by the National State. It distinguishes Vargas developmentalism mandates I and II (30-45 and 51-54), comparing it to Dutra’s unsuccessful attempt to restore liberalism (46-50). It highlights the important reconstruction effort of the state and the introduction of national control instruments of economic policy, embodied the extraordinary work of the Vargas’ Presidency Economic Advisory (51-54), where great Brazilian names were enshrined, such as Rômulo de Almeida, Ignácio Rangel, Jesus Soares Pereira, Cleanto Paiva Leite and Tomás P. Acioli Borges, true builders of the major projects and development plans at that time.

Vol.35, n.o3(140), 2015
Estado e industrialização no Brasil
Wilson Suzigan
From the 1950s until the end of the 1970s, the state played an active role in structuring and consolidating the industrial sector in Brazil. However, the high degree and permanent nature of protection for the domestic market, together with insufficient scientific and technological development, produced a largely inefficient, technolo-gically backward and internationally uncompetitive industry. It was able to sell abroad because the system of promotion for exports of manufactures off set the anti-export bias of the protection system. These problems were aggravated m the 1980s, when the state not only stopped orienting industrial development but actually began retarding it.
Vol.8, n.o4(32), 1988
Experiência histórica de política industrial no Brasil
Wilson Suzigan
This paper studies the practice of industrial policy and the corresponding effort of institution building in Brazil from the 1930s to the 1970s. The argument is that, although that practice and the respective institutional organization succeeded in the structuring of Brazilian industry into a process of convergence towards the international industrial structure and technological development patterns up to the 1970s, they showed themselves not functional in catching up with the structural changes and thc new technologies of the 1 980s. The paper concludes by pointing that both the established practice of industrial policy and the related institutional organization led to a normative and institutional lock in which, together with the political inertia, hindered the necessary changes at the beginning of the 1980s.
Vol.16, n.o1(61), 1996
The underestimated role of universities for the Brazilian system of innovation
Wilson Suzigan e Eduardo da Motta e Albuquerque
Conventional wisdom usually underestimates the important role of public research institutes and universities in successful cases of Brazilian economy. History of science and technology institutions shows a long-term process of formation of these institutions and their interactions with industrial firms, agricultural producers or society. This paper investigates historical roots of successful cases of Brazil. First, we present the late onset of National Innovation System (NSI) institutions and waves of institutional formation in Brazil. Second, we describe the history of three selected successful cases, which spans from a low-tech sector (agriculture), a medium-tech sector (steel and special metal alloys), to a high-tech sector (aircraft). These findings present new challenges for present-day developmental policies.
Vol.31, n.o1(121), 2011
Política industrial e desenvolvimento
Wilson Suzigan e João Furtado
Industrial Policy and Development. This paper aims at contributing to the debate on industrial policy and economic development in Brazil. At first, theoretical approaches that support industrial policy- making are discussed, with emphasis on the neoschumpeterian/evolutionary approach, which focuses on innovation as prime mover of economic development and on the co-evolution of technologies, institutions, and industries and firms structures. Next, such an approach is applied to explain some successful experiences of industrial policy-making and economic development in Brazil up to the end of the 1970s, and the failures to implement such a policy from the 1980s onwards. Finally, the present government industrial policy is evaluated, arguing that although it has some positive aspects like the focus on innovation, clearly defined targets and a new institutional organization, it fails as an economic development policy because of weaknesses such as incompatibility with macroeconomic policy, inconsistencies of policy instruments, deficiencies in infrastructure and in the science, technology and innovation system, and lack of coordination and political drive.
Vol.26, n.o2(102), 2006
Clusters ou sistemas locais de produção: mapeamento, tipologia e sugestões de políticas
Wilson Suzigan, João Furtado, Renato Garcia e Sérgio Sampaio
This paper sets out to advance further in the development of a methodology for mapping, classifying and characterizing Local Production Systems (LPS) in Brazil. Such effort is justified not only for the importance these systems have been amassing for generating jobs and social welfare, economic growth, exports and technological development, but also for the attention they have received from several public organisms and private institutions, many times lacking adequate methodological criteria, resulting in dispersion of efforts and waste of both public and private resources. Therefore, the main goal of the paper is to provide evidence that allows rationalizing public policies administration criteria and private actions directed to LPS, offering suggestions for policies and actions differentiated according to categories or types of systems with distinct characteristics according to their relevance to local or regional development as well as their importance in the context of the sector in which they are inserted.
Vol.24, n.o4(96), 2004
O investimento direto estangeiro em uma nova estratégia industrial
Winston Fritsch e Gustavo H. B. Franco
The paper discusses the normative principles on which Brazilian policies towards foreign direct investment should be bared. It starts from considerations about global trends regarding world industrialization and trade — especially as connected with new technological developments — and seeks to identify some crucial elements in the relationship between Brazil and the world economy to be shopped by multi-national corporations. Next the paper deals with issues related to market access and technological transfer emphasizing the importance of foreign firms for the future of Brazilian industrialization and exports performance.
Vol.9, n.o2(34), 1989
Da economia política à política econômica: o novo-desenvolvimentismo e o governo Lula
Lecio Morais e Alfredo Saad-Filho

From political economy to economic policy: The neo-developmentalism and the Lula administration. This article critically reviews the design of neo-developmentalist economic policies in Brazil, in the first half of the last decade, and their relationship with the economic policies of the Lula administration after 2006. Paradoxically, the neo-developmentalist policies were implemented jointly with the main (neoliberal) macroeconomic policies which had been introduced earlier. The article reviews the relevant literature, and examines the contradictory nature of this ‘inflection’ of economic policy. So far, this combination of policies has achieved an unquestionable – though provisional – success, despite the persistence of the structural macroeconomic problems due to the continuity of the neoliberal policies.


Vol.31, n.o4(124), 2011
Diversificação ou especialização: uma análise do processo de mudança estrutural da indústria brasileira
Laura Carvalho e David Kupfer

Diversification or specialization: an analysis of the process of structure change of the Brazilian industry. Based on findings of Imbs and Wacziarg (2003), whose empirical study established the existence of a U-shaped pattern of the evolution of sectoral concentration in relation to per capita income, this paper aimed at determining the path of structural change followed by the Brazilian industry in the last decades and at comparing it to the pattern found by the authors and to the path followed by ed countries. The empirical work has verified that the stage of diversification of the Brazilian industrial structure has ended in lower levels of per capita income than in the studied countries.

Vol.31, n.o4(124), 2011
Brasil (1955-2005): 25 anos de catching-up, 25 anos de falling behind
Marcelo Arend e Pedro Cesar Dutra Fonseca

Brazil (1955-2005): 25 years of catching-up, 25 years of falling behind. The present paper discusses the Brazilian industrial development under a neo-schumpeterian perspective in the period after 1955. The hypothesis is that, in the last 50 years, Brazil spent the first 25 years catching up and, next, the following 25 years falling behind. The 1955-1980 period, by means of international funding, allowed catching up with the paradigm in maturation within the fourth technological revolution. However, in this period, it was determined the main debilitating elements for the country's entrance in the new techno-economical paradigm of the fifth technological revolution which emerged in the middle of the 70s. It is in the strategy to internationalize the economy, granting the mutinational companies the key-sectors of the national economy dynamics during the catching up period, the main element of dependence in the journey that conditions the current performance, responsible for technology subordination and keeps the Brazilian economy with low dynamism.  

Vol.32, n.o1(126), 2012
Qualidade do gasto público municipal em ensino fundamental no Brasil
Maria Dolores Montoya Diaz

Quality of municipal public spending on primary education in Brazil. The focus of this paper was to analyze the relationship between municipal public education spending and students' academic achievement, evaluated according to IDEB (Index of Basic Education Development) of 2005. The following databases were used: School Census 2005, Brazil Exam (mathematics evaluation applied to students from fourth grade of elementary school) and Finance of Brazil (FINBRA). A multilevel model was estimated and the results suggest that simply increasing the percentage of municipal expenditures on education or the percentage of spending on primary education in relation to municipal expenditures on education do not automatically guarantee improvements in the quality of education. 

Vol.32, n.o1(126), 2012
Neutralizing tendency of wages to grow below productivity rate
Pierre Salama

The apparent stability on relative shares in revenue during the 2000s, or even the increase increase in wages share in Latin American countries, seems to be a "surprise" in Kaldor’s opinion, or even a "mystery" for Schumpeter, or well finally "a reproach to economic theory" according to Robinson. Various theories trying to explain sharing of value added insist on investment relative size, saving importance, different types of technical progress (biased or not), amount of idle capacity, cost structure, intermediate products importance, higher markup rates searching by entrepreneurs and, consecutively, on distributive conflict. We will analyze main macroeconomic models - those of Kaldor, Robinson and Kalecki – in order to overtake that "reproach to economic theory". 

Vol.32, n.o2(127), 2012
Teorias do comércio internacional: um debate sobre a relação entre crescimento econômico e inserção externa
Uallace Moreira

Theories of international trade: a debate on the relationship between economic growth and foreign market ion. The paper analyzes the importance accorded to the high technology industry sector in the process of economic growth, in its relation to international trade. Considering at first liberal arguments that disregard productive and commercial specialization as a cause of unequal economic development, the paper discusses then some institutionalist and evolutionist arguments which, since List, stress that high technology specialization matters for the rate of increase of productivity and for the surmount for foreign exchange restrictions to growth.  

Vol.32, n.o2(127), 2012
Fiscal policy and private investment. Latin America in a comparative perspective
Emilio Caballero U. e Julio López G.

The main objective of the paper is to assess the impact of fiscal variables on private investment comparing some Latin American economies to other advanced ones. For such purposes, the authors carry out an econometric analysis for the period 1990-2008. They make use of two dynamic panel models in which they group countries with similar characteristics and development levels. In one of them, they include Mexico, Brazil, Chile, Colombia and Uruguay; whereas in the second one the countries accounted for are the U.S., Canada, Spain, Korea, Ireland and Japan. They specify in both models an investment function using as arguments a wide range of variables, including those related with fiscal policy. From their results the authors infer that governments can, with higher spending, boost up the economy even when they finance spending with higher taxes. In Latin America, where income concentration is enormous, a proposal to boost up the economy through higher government expenditure financed with a progressive income tax, is even more justified. 

Vol.32, n.o2(127), 2012
Corruption, income and rule of law: empirical evidence from developing and developed countriel
Helder Ferreira de Mendonça e André da Fonseca

This article presents an empirical analysis based on cross-country data concerned with two points regarding corruption: (i) its effects on income; and (ii) how to mitigate corruption. The findings can be highlighted in two points. Firstly the idea that corruption is intrinsically connected with income is confirmed. Secondly, the traditional argument that an increase in rule of law represents a good strategy in the fight against corruption is valid for developing countries. Furthermore, this study reveals that the search for increasing the human development index represents a rule of thumb for high levels of income and to control corruption. 

Vol.32, n.o2(127), 2012
Ten theses on new developmentalism

Vol.32, n.o2(127), 2012
Brazil as an emerging economy: a new economic miracle?
Edmund Amann e Werner Baer

This article shows that abundant resources and blind faith in an optimistic future cannot result in sustainable growth in Brazil. There are great deficiencies in various areas which make sustained high growth rates almost impossible to achieve, such as the low investment ratio, deficiencies in creating human capital, high interest rates leading to an uncompetitive exchange rate and a lack of infrastructural development. 

Vol.32, n.o3(128), 2012
Trade with China and strategy in South American recent economic development
Ernesto A. OConnor

Trade between South America and China has been an important source of the high growth shown by those economies in the ‘2000s. During the globalization of the ‘90s, trade between the region and China had not developed so much. A rather sharp growth in China’s presence in world trade since the beginning of the ‘2000s changed the world trade trends for MERCOSUR countries, or, at least, for many of them. The impact of the increasing trade of agrifood has been very relevant, and different per country. Strategy is another important issue, referring to bilateral relations with China. This country should be seen as a partner in the global trade, and not as a new foreign investor for the region, but this may be different in the context of different national strategies of South American countries.  

Vol.32, n.o3(128), 2012
Alternative banking: Theory and evidence from Europe
Kurt Von Mettenheim e Olivier Butzbach

Since financial liberalization in the 1980s, non-profit maximizing, stakeholder-oriented banks have outperformed private banks in Europe. This article draws on empirical research, banking theory and theories of the firm to explain this apparent anomaly for neo-liberal policy and contemporary market-based banking theory. The realization of competitive advantages by alternative banks (savings banks, cooperative banks and development banks) has significant implications for conceptions of bank change, regulation and political economy. 

Vol.32, n.o4(129), 2012
Os pilares institucionais da política cambial e a industrialização nos anos 1930
Cesar Rodrigues Van der Laan, André Moreira Cunha e Pedro Cezar Dutra Fonseca

The Institutional pillars of the foreign exchange policy and industrialization in Brazil in the 1930s. The 1930s constitute one milestone in the Brazilian economic development, as the accelerated industrialization process has started and became the dominant domestic policy. This paper reviews this period focusing on the institutional changes restructuring exchange transactions, to curb financial flows and balance external payments  

Vol.32, n.o4(129), 2012
Competitividade e restrição externa na Zona do Euro
André Sander Diniz e Frederico G. Jayme Jr.

Competitiveness and external constraint in the Eurozone. The recent debt crisis in Greece, Ireland and Portugal has exposed the fragility existing in the Euro zone for promoting development and economic convergence between the countries that have adopted the currency. Way beyond the fear of insolvency, what is observed is a growing disparity of the most-developed countries in comparison to the less-developed ones, with perverse consequences for the last ones. Once the nominal exchange rates are fixed, the divergent movements in relative prices and wages between the countries have led to totally distinct paths for the real exchange rates. Worsening the scenario, one can observe the incompleteness of the political union, the monetarist focus of the ECB and the lack of labor mobility between the countries, what distances from the argument stated by the theory and puts in jeopardize the future of the Monetary Union. 

Vol.33, n.o1(130), 2013
Gênese e agenda do novo desenvolvimento brasileiro
Lauro Mattei

Origin and agenda of Brazilian new developmentalism. The debate regarding Brazil’s development model returned again to the public arena in the first decade of 21st Century after two decades of orthodox economic policies which encouraged non-developed countries to adopt liberal economic policies as their preferred growth strategies. As Brazil achieved neither economic stability nor development, the discussion of new development strategies returned as a popular research topic. It is in this context that a new development theory – Neo Developmentalism – emerges. The objective of this article is to review the origins of this debate and the main propositions defended by the group aiming to implement a new development model policy in the country. The main conclusions are that this group has had an important contribution in maintaining the development debate in the public agenda as well as proposing a new theoretical approach called “structuralist macroeconomic development”. 

Vol.33, n.o1(130), 2013
A taxa de câmbio real e restrição externa: uma proposta de releitura com elasticidade endógenas
Marcos Adolfo Ribeiro Ferrari, Fabio Neves Freitas e Nelson Henrique Barbosa Filho

This paper investigates a topic of the agenda about growth models, emphasizing the elaboration of an external constrained model with endogenous elasticity, with an emphasis on real exchange rate level as main tool for the economic development. The model is anchored in Kaldor, Thirlwall and Barbosa Filho’s models and it will demonstrate that external constraint changes in the course of time. 

Vol.33, n.o1(130), 2013
Os novos bancos de desenvolvimento: independência conflitiva ou parcerias estratégicas?
Renato Baumann

A criação de dois novos bancos de desenvolvimento - o NDB eo AIIB - tem motivado um debate sobre se eles afetarão o funcionamento dos bancos de desenvolvimento existentes e se eles contribuirão para estimular o desenvolvimento econômico em países de baixa renda. Este artigo mostra algumas diferenças entre as duas novas instituições, apresenta algumas estimativas do seu crescimento potencial num futuro próximo e argumenta que é muito provável que os dois bancos - por razões técnicas e financeiras - trabalhem em conjunto com os bancos de desenvolvimento existentes, em vez de competir com eles. 

The creation of two new development banks – the NDB and the AIIB – has motivated a debate as to whether they will affect the working of the existing development banks, and to whether they will contribute do foster economic development in low income countries. This article shows some differences between the two new institutions, present some estimate of their potential growth in the near future and argues that it is very likely that the two banks will – for both technical and financial reasons – work together with the existing development banks, rather than compete with them. 

Vol.37, n.o2(147), 2017
Education and development projects in Brazil (1932-2004): a political economy perspective
Bernardo Stuhlberger Wjuniski

This paper discusses the long-run history of education policies in Brazil. It is suggested that the main reason for the educational backwardness was the existence of strong political interests over education. It is also defended that these interests can be empirically observed in the allocation of public resources between the different levels of education, with political choices favouring specific groups in society. It was not a matter of lack of investment in education, but of inadequate allocation of resources. This pattern of political-based policies created a strong negative path dependence of misallocation of resources in education in Brazil, particularly with significant underinvestment in secondary education.  

Vol.33, n.o1(130), 2013
Narratives of emergence: Rising powers and the end of the Third World?
Andrew Hurrell

This article examines recent arguments from development economists, from historians and from international relations specialists that do challenge the continued relevance of the idea of the Third World. It then examines five reasons why these arguments are wrong. We can indeed understand much about emerging powers in terms of how they are seeking to navigate and best position themselves within an existing state-centric, liberal and capitalist order whilst accepting many of the underlying assumptions and values of that order. But the nature of that navigation has been shaped by their historical trajectory and by the developmental, societal and geopolitical context of their emergence. 

Vol.33, n.o2(131), 2013
Desenvolvimentismo e Novo-desenvolvimentismo: raízes teóricas e precisões conceituais
Maria de Lourdes Rollemberg Mollo e Pedro Cezar Dutra Fonseca

Developmentalism and new-developmentalism. This paper starts from the conceptualism of New Developmentalism which was proposed by its formulators and their criticism of the “old” developmentalism in order to compare both. It is elaborate in theoretical and historical levels. In the former, it explores the theoretical streams that contributed to the formulation of economic policies that designated the Latin American developmentalism. In the latter, it focuses on the economic policy of the Brazilian import-substitution industrialization and advocates the impropriety of associating it to the irresponsibility in the management of the foreign exchange, fiscal and monetary policies, as the proposers of New Developmentalism assert. Finally, in a third stage, it resumes the propositions of the New Developmentalism and debates the pertinence of some of its policy propositions based upon theoretical considerations and the Brazilian experience which were mentioned in the previous stages. 

Vol.33, n.o2(131), 2013
Assessing development and the idea of development in the 1950s in Brazil
Rafael Rossotto Ioris e Antonio Augusto Rossotto Ioris

The decade of 1950s was a crucial period of the industrialization of the Brazilian economy. The dominant school of thought was the national-developmentalism, which was not restricted to the sphere of economic production but also encompassed political and socio-cultural processes of change. Combining repression, persuasion and paternalism, the national state took a significantly political and economic responsibility in the social, material and symbolic modernization during the Vargas and Kubitschek administrations. However, internal disputes, foreign demands and a long legacy of socio-spatial inequalities prevented the achievement of more socially inclusive goals, leading a legacy of unanswered questions that still have currency today. 

Vol.33, n.o3(132), 2013
The grab of the worlds land and water resources
Franklin Obeng-Odoom

In this paper, I review recent developments in global political economy and political economy of development that have captured inter alia the attention of agrarian political economists. I do so through the periscope of two recent publications by Fred Pearce, Great Britain’s leading eco journalist and an edited volume by Tony Allan, Martin Keulertz, Suvi Sojamo and Jeroen Warner, scholars trained in different disciplines and based at various universities in the UK, the Netherlands, and Finland. The account of the pace, places, and perpetrators, procedures, and problems of this particular agrarian model provides fodder for the further development of a locus classicus on what is happening to the land question in this current moment under the capitalist order, a shorthand for which is ‘water and land grab’.


Vol.33, n.o3(132), 2013
Liberal versus neo-developmental convention to growth: why has Brazil shown a poor performance since the 1980s?
André Nassif e Carmen Feijó

The main goal of our paper is to provide analytical arguments to explain why Brazil has not been able to restore its long-term capacity for economic growth, especially compared with its economy in the 1950-1979 period (7.3 per cent per year on average) or even with a number of emerging economies in the 1980-2010 period (6.7 per cent per year on average, against 2.3 per cent per year on average in Brazil in the same period). We build our idea of convention to growth based on the Keynesian concept of convention. For our purposes, this concept could be briefly summarized as the way in which the set of public and private economic decisions related to different objectives, such as how much to produce and invest, how much to charge for products and services, how to finance public and private debt, how to finance research and development, and so on, are indefinitely – or at least until there is no change – carried out by the political, economic and social institutions. This analytical reference can be connected to the Neo-Schumpeterian National Innovation System (NIS) concept, which emphasizes not only institutions associated with science and technology per se, but also the complex interaction among them and other institutions. In this paper we identify two conventions to long-term growth in the last three decades in Brazil: the liberal and the neo-developmental. We show that the poor performance in the Brazilian economy in terms of real GDP growth from the 1980s on can be explained by a weak coordination between short-term macroeconomic policies and long-term industrial and technological policies. This weak coordination, in turn, can be associated with the prevalence of the liberal convention from the 1990s on, which has emphasized price stabilization to the detriment of a neo-developmental strategy whose primary goal is to sustain higher rates of growth and full employment in Brazil.

Vol.33, n.o4(133), 2013
Autonomy of the State and devepment in the democratic capitalism
Marcus Ianoni

State autonomy and development in democratic capitalism. The paper argues that if the state, as an expression and part of a pact of domination, operates as a corporate actor with relative autonomy, vision and capacity to promote the development, it is a key institution in the economic transformation. Supported in the neo-Marxism, exposes the limits of institutionalist approach of autonomy from the state to explain its origin, but does not rule out this approach. Maintains that the class-balance theory of the state may explain its relative autonomy and at the same time aid in understanding the historical experiences of social-developmental state action, particularly in the social democratic regimes and in Latin America current. 

Vol.33, n.o4(133), 2013
Instituições e crescimento econômico: os modelos teóricos de Thorsten Veblen e Douglass North
Herton Castiglioni Lopes

Institutions and economic growth: The theoretical models of Thorstein Veblen and Douglass North. The aim of this work is to analyse the role of institutions in the economical growing. It searches for propose two theoretical models that explain the development, one is according to Thorstein Veblen and the other one is based on Douglass North. Thus, it summarises and compares the effects of the institutions growing and at the same time emphasizes the deviations and approximation on both theoretical chain. Beside the differences still exist, there is a research agenda that is approaching. In both theoretical models there are important concepts to analyse the effects of the institutions in the development. 

Vol.33, n.o4(133), 2013
O novo desenvolvimentismo: uma contribuição institucionalista
Herton Castiglioni Lopes

 O trabalho objetiva analisar o novo desenvolvimentismo a partir da Teoria da Regulação (T.R.), do institucionalismo derivado de Veblen e da teoria evolucionária neoschumpeteriana. Demonstra que o novo desenvolvimentismo é uma instituição ao estabelecer uma regulação (formas institucionais) que considere as características estruturais dos países em desenvolvimento. Essa configuração macroeconômica, em conjunto com os hábitos mentais dos agentes, deve fortalecer as relações de mercado, os investimentos produtivos, a inovação e o progresso técnico. Este último deve acontecer a partir das oportunidades abertas pelas revoluções tecnológicas, permitindo o catching up das nações menos desenvolvidas (de renda média).

 The objective of this work is analyzing the New Developmentalism throughout the French Regulation School, Veblen’s institutionalism and the Neo-Schumpeterian Approach. It aims to demonstrate, also, that the New Developmentalism is an institution when it establishes a regulation (institutional forms) that considers the structural characteristics of the developing countries. This macroeconomic configuration, together with the mental habits of the agents should strengthen the market relation, the productive investment, the innovation and the technical progress. This last one should happen through open opportunities in technological revolution, to let the ‘catching up’ of the nation less developed.

Vol.36, n.o4(145), 2016
Democracy over Governance
Amelia Correa e Romar Correa

Varieties of institutional economics are available to evaluate varieties of capitalism. These methodologies dig behind preferences and technology to arrive at the ground on which agents make choices. The individual is at the foundation of these edifices, neoclassical and otherwise. Consequently, the denouement of all these models is that the market knows best in the absence of effective counterfactuals. A natural corollary is that the task of the government is to set effective mechanisms in place in order to approach the best outcomes. In contrast, we propose a framework which contends with the modern economy as an aggregate that evolves in historical time. Problems like effective demand failures are endemic to capitalist economies. Therefore, systematic State intervention is essential to their functioning. In particular, political economy teaches us that intervention must be in the interest of wage earners. In contrast to the earlier model, the fabric of norms and conventions that facilitate the growth and development of economies must emerge from the consciousness and practices of the working class.        

Vol.33, n.o4(133), 2013
Bases Políticas das Transferências Intergovernamentais no Brasil (1985-2004)
Octavio Amorim Neto e Andrei Gomes Simonassi

This article examines the political economy of public resources distribution in Brazil’s federal system in 1985-2004. We propose an empirical exercise to analyze how the country’s federal governments deal with the tradeoff between the provision of material wellbeing to sub-national governments (the states in our study) and the pursuit of political support from the latter. To identify the determinants of the transfer of resources from the federal government to the states, a set of economic, political, and institutional variables is econometrically tested. Based upon instrumental variables estimation for panel-data models, our estimates indicate that in Brazil the pursuit of political goals prevails over social equity and economic efficiency criteria: higher levels of per capita transfers are associated with the political makeup of governing coalitions, while larger investments in infrastructure and development by the states are associated with a lower amount of per capita resources transferred to sub-national governments. Our findings also suggest a trend toward the maintenance of interregional inequalities in Brazil, and show the relevance of fiscal discipline laws in discouraging the use of the administrative apparatus for electioneering.


Vol.33, n.o4(133), 2013
A (im)previsibilidade da crise e o pluralismo da Economia
Luís Felipe Lopes Milaré

The (un)predictability of the crisis and the pluralism in Economics. This paper discusses the predictability of the last global economic crisis relating it to the lack of pluralism in Economics. In order to do so, first is presented a literature review of the development of economic theory in recent years. Then the two main views on the predictability of the crisis are presented: (1) the economic models used to understand the economy did not incorporate bubbles so, the crisis was unpredictable; and (2) the crisis was predictable when applied other methods of understanding the economy.   

Vol.33, n.o4(133), 2013
Democracia consolidada e tamanho do Estado
Felipe Scudeler Salto

Consolidated democracy and size of the State. Common sense suggests that the more consolidated democracies and advanced economies tend to be more efficient and produce smaller states. What is observed in practice, however, is a positive correlation between "democratic consolidation" and "tax burden" (as a proxy for "size of government"). This finding, while not expressing any causal relationship between the two variables, is an evidence that a more republican and democratic State, as defined in Bresser-Pereira, must be able to provide, effectively and efficiently, broader public services with better quality. This is, in consolidated democracies, the State should not be small. 

Vol.34, n.o1(134), 2014
Public management, policy capacity, innovation and development
Erkki Karo e Rainer Kattel

In this paper we discuss the question of what factors in development policy create specific forms of policy capacity and under what circumstances development-oriented complementarities or mismatches between the public and private sectors emerge. We argue that specific forms of policy capacity emerge from three interlinked policy choices, each fundamentally evolutionary in nature: policy choices on understanding the nature and sources of technical change and innovation; on the ways of financing economic growth, in particular technical change; and on the nature of public management to deliver and implement both previous sets of policy choices. Thus, policy capacity is not so much a continuum of abilities (from less to more), but rather a variety of modes of making policy that originate from co-evolutionary processes in capitalist development. To illustrate, we briefly reflect upon how the East Asian developmental states of the 1960s-1980s and Eastern European transition policies since the 1990s led to almost opposite institutional systems for financing, designing and managing development strategies, and how this led, through co-evolutionary processes, to different forms of policy capacity. 

Vol.34, n.o1(134), 2014
Política industrial e desenvolvimento econômico: a reatulização de um debate histórico
Daniel Arruda Coronel, André Filipe Zago de Azevedo e Antônio Carvalho Campos

Industrial policy and economic development: a review of the contemporary debate. This paper discusses the importance of the industrial policy for the Brazilian economic development. It presents the theoretical foundations and the main international experiences about this theme. Besides it examines the main industrial policies adopted in Brazil, especially in recent years. Based on this discussion, it is possible to note that despite the criticisms against this policy, they were widely used by many developed countries in the past and also played an important role, contributing to increase the industrial growth in Brazil. However, the recent Brazilian industrial policies were not so efficient, especially when compared with those adopted during most of the XX century. 

Vol.34, n.o1(134), 2014
A política industrial chinesa como determinante de sua estratégia going global
Gilmar Masiero e Diego Bonaldo Coelho

China has experienced not only high rates of economic growth as well as an unprecedented competitive international ion since the turn of the century. This process was not guided solely by market forces or influenced by government intervention in the economy. Although much has been argued that China’s “going global” strategy is rooted in state action, and especially its policy of exchange rate depreciation and trade policy incentives for exports and investments abroad, we argue that the major determinant of this strategy, which established the basic conditions for industrial competitiveness, was its industrial policy. The focus of this article is on the changes in China’s industrial structure, emphasizing that Chinese industrial policy is a central determinant of its international ion strategy. 

Vol.34, n.o1(134), 2014
Políticas productivas y competitividad industrial. El caso de Argentina y Brasil
Marta Bekerman e Gonzalo Dalmasso

This article aims, on the one hand, to analyze the increase of productive asymmetries between Argentina and Brazil that have been evidencing during the last two decades, and are currently reveled in the structural trade deficit of industrial products that affects Argentina in the bilateral relationship. On the other hand, it intends to contribute to understanding the roots of these asymmetries based on the differences in the public policies implemented by both countries during the period extending from the implementation of the MERCOSUR, in the early 90's, until 2008. The focus is set on the technological pattern of industrial production and trade structures, considering a non neutral impact over the long term development. 

Vol.34, n.o1(134), 2014
Alice Amsden’s impact on Latin America
Helen Shapiro e Juan Carlos Moreno-Brid

On March 15 2012, we lost Professor Alice Amsden, a great intellectual power in development economics. Her work was systematically marked by creativity, originality, relevance and her fearless commitment to always speak truth to power both in academic as well as in policy-making arenas. This In Memoriam concentrates on just one part of her great intellectual legacy: her impact to better understanding Latin America´s development challenges, obstacles and policy options. Our paper focuses on three broad areas of her main influence in the region: the role of transnational corporations, the importance of manufactured exports for development, and industrial policy. As we here argue, in all of them, her work is and continues to be a substantial contribution to knowledge that policy makers will be well advised to take into account if the region is to finally enter a path of structural transformation and sustained economic and social development.  

Vol.34, n.o2(135), 2014
A formação política do Brasil segundo Furtado
Mauro Boianovsky

The political development of Brazil according to Celso Furtado. The article provides a broad view of Celso Furtado’s interpretation of the political development of Brazil, spread over his several writings. Furtado’s approach was dominated by his analytical effort to understand the effects of the distinct socioeconomic foundations of the United States and Brazil on the development of their respective structures of power. The persistent influence of the Brazilian colonial patriarchal regime was reflected on the fragility of democracy as a political arrangement throughout most of Brazilian history, including the oligarchic republic before 1930. The mismatch between the industrialization process and the inertia of the political system led to unstable populism and eventually to the attempt of military arbitration in 1964. 

Vol.34, n.o2(135), 2014
Os projetos de desenvolvimento do Brasil contemporâneo
Rui Mesquita Cordeiro

Development projects of contemporary Brazil. This paper makes an analysis on the expansion of the development debate, from the rise of the democracy and social justice cycle, in the Brazil of the post-national-developmentalism era, using as method the structural-historical approach. Initially, the article will feature the three main cycles of development of the country, according to the chronology proposed by Bresser-Pereira. Later, they identify four causes for the transition from second to third cycle. Finally, some considerations are made about the current development cycle, interpreting the political spectrum of development projects in dispute in the contemporary Brazil. 

Vol.34, n.o2(135), 2014
Effects of overvaluation and exchange rate volatility over industrial investment
José Luís Oreiro, Flavio A. C. Basilio e Gustavo J. G. Souza

The present article aims to analyze the recent behavior of real exchange rate in Brazil and its effects over investment per worker in Brazilian manufacturing and extractive industry. Preliminary estimates presented in the article shows an over-valuation of 48% of real exchange rate in Brazil. The reaction between the level (and volatility) of real exchange rate and investment (per worker) in Brazil is analyzed by means of a panel data econometric model for 30 sectors of Brazilian manufacturing and extractive industry. The empirical results show that the level and volatility of real exchange rate has a strong effect over investment per worker in Brazilian industry. Finally, we conclude the article presenting a proposal for a new macroeconomic regime that aims to produce an acceleration of economic growth of Brazilian economy and, by that, a catching-up process with developed countries. 

Vol.34, n.o3(136), 2014
Elites estatais e industrialização: ensaio de comparação entre Brasil, Argentina e México (1920-1970)
Renato Perissinotto, Paulo Roberto Neves Costa, Wellington Nunes, Angela Ilha

The purpose of this article is to stress on the importance of the sociology of state elites to fully understand developmental processes. With that purpose in mind, we comparatively analyze the industrialization process in Argentina, Brazil and Mexico from 1920 to 1970. Our analysis shows that although Argentina was in a much better condition to initiate its industrialization process in the early thirties, it was overtaken by Brazil and Mexico already in the late fifties. The article suggests that this took place because Brazil and Mexico, among other things, had a state elite willing to take development seriously, whereas Argentina lacked it. 

Vol.34, n.o3(136), 2014
Notas sobre o pensamento de Ignácio Rangel no Centenário de seu nascimento
Marcio Henrique Monteiro de Castro, Ricardo Bielschowsky e Cesar Benjamin

This paper is a tribute to one of the greatest Brazilian intellectuals of the XXth century, Ignacio Rangel, at the Centenary of his birth. The two analytical pillars of his thought are discussed, namely the thesis of the long term “Basic Duality” of the Brazilian economy and of the national political structure, and the idea that economic planning should always involve the identification and use of idle resources. It is argued that his ideas on history and his defense of planning integrate a wider development theory, which combines structural change (industrialization, agrarian modernization, the strengthening of the financial capital, etc.) and a macro-dynamic approach on idle capacity and economic cycles. By way if conclusion the ideas are evaluated from a XXIst century perspective. 

Vol.34, n.o4(137), 2014
The structuralist tradition in economics: methodological and macroeconomics aspects
Fabricio Missio, Frederico Gonçalves Jayme Jr. e José Luis Oreiro

 This paper examines the structuralist tradition in economics, emphasizing the role that structures play in the economic growth of developing countries. Since the subject at hand is evidently too large to cover in a single article, an emphasis has been brought to bear upon the macroeconomic elements of such a tradition, while also exploring its methodological aspects. It begins by analysing some general aspects of structuralism in economics (its evolution and origins) associated with ECLAC thought, in this instance focusing on the dynamics of the center-periphery relationship. Thereafter, the macroeconomic structuralism derived from the works of Taylor (1983, 1991) is presented, followed by a presentation of neo-structuralism. Centred on the concept of systemic competitiveness, this approach defines a strategy to achieve the high road of globalization, understood here as an inevitable process in spite of its engagement being dependent on the policies adopted. The conclusions show the genuine contributions of this tradition to economic theory.

Vol.35, n.o2(139), 2015
Política cambial no Brasil: um esquema analítico
Pedro Rossi

This paper aims to address the exchange rate policy in Brazil from an approach centered in the Brazilian foreign exchange market’s institutional framework. The purpose is to evaluate how this institutionality affects the exchange rate policies and, in particular, how financial speculation operates in this institutional framework. It argues that the Brazilian foreign exchange market is particularly susceptible to financial speculation and therefore the regulation of foreign exchange market and, in particular, the derivatives market, is recommended to allow a more appropriate exchange rate policy for economic development.

Esse artigo trata da política cambial no Brasil a partir de um enfoque centrado na institucionalidade do mercado de câmbio brasileiro. O objetivo é avaliar como essa institucionalidade condiciona as políticas de câmbio no Brasil e, em particular, como a especulação opera nessa institucionalidade. Defende-se a ideia de que o mercado de câmbio brasileiro é particularmente permeável à especulação financeira e, por isso, uma política cambial mais adequada ao desenvolvimento econômico depende da regulação do mercado de câmbio e, em particular, do mercado de derivativos.

Vol.35, n.o4(141), 2015
Nature of the state economic expanded functions in the Brazilian economy
Niemeyer Almeida Filho

Natureza das funções econômicas alargadas do Estado na economia brasileira. O artigo discute a dinâmica da acumulação de capital nas economias da América Latina. A hipótese é que nessas economias o papel do Estado é comparativamente mais amplo do que nas economias dos centros do capitalismo, por razões estruturais. O argumento baseia-se principalmente em Marx e Kalecki, além de elementos históricos das economias da América Latina, particularmente da economia brasileira. Em seguida, o artigo explora as consequências dinâmicas desta natureza em nível nacional, concluindo que esta condição dá um maior grau de instabilidade. 

Nature of the State economic expanded functions in the Brazilian economy. The paper discusses the dynamics of capital accumulation in Latin America economies. The hypothesis is that in these economies the role of the State is comparatively broader than in the economies of the centers of the capitalism by structural reasons. The argument is mainly based on Marx and Kalecki, besides historical elements of Latin America economies, particularly the Brazilian economy. Then the paper explores the dynamics consequences of this nature at the national levels, concluding that this condition gives a higher degree of instability. 

Vol.36, n.o1(142), 2016
Assessing the dynamics of terms of trade inamodelof cumulative causation andstructural change
Ricardo Azevedo Araujo

O objetivo desse trabalho decorre do declínio constante da participação dos gastos de consumo sobre as mercadorias produzidas no sul globalizado, juntamente com a (empiricamente ambígua) hipótese Singer / Prebisch de que isto pode ser explicado por um declínio secular dos termos do comércio do sul. Com base nessas pesquisas, o documento propõe estudar a dinâmica dos termos de troca, utilizando um modelo de crescimento multi-setorial com base no princípio da causalidade cumulativa. O resultado é um modelo Norte-Sul de crescimento e de comércio em que a evolução dos termos de troca depende de taxas diferenciais de crescimento da produtividade em diferentes setores da economia - e quais os termos de dinâmicas comerciais que podem não ser o melhor caminho no caso de existir ou não m problema de desenvolvimento desigual 

The motivation for this paper stems from the steady decline in the share of consumer expenditure son goods produced in the global south, coupled with the (empirically ambiguous) Singer/Prebisch hypothesis that this can be explained by a secular decline in the southern terms of trade. Drawing on these sources of inspiration, the paper sets out to study the dynamics of the terms of trade using a multi-sector growth model based on the principle of cumulative causation. The upshot is a North-South model of growth and trade in which the evolution of the terms of trade depends on differential rates of productivity growth in different sectors of the economy – and in which terms of trade dynamics may not be the best guide as to whether or not there is an uneven development problem. 

Vol.36, n.o1(142), 2016
The Polonoroeste road Project in the Brazilian Amazon, and the World Bank’s environmental and indigenous peoples’ norms.(Part I)
Robert H. Wade

Ao final de 1980 o Banco incorporou as normas de sustentabilidade ambiental e proteção dos povos indígenas e foi seguido por outras organizações interestaduais orientadas para o desenvolvimento. Este artigo de duas partes descreve como uma luta sobre o projeto da estrada Polonoroeste na Amazônia brasileira - dentro do banco, entre o Banco e ONGs apoiadas pelo Congresso dos EUA, e entre o Banco e o governo do Brasil –ajudou na mudança de normas políticas de longo alcance. A primeira parte descreve como o projeto foi concebido como uma inovação no desenvolvimento sustentável em florestas tropicais; e como ela provocou um alvoroço dentro do Banco enquanto se movia em direção a aprovação do projeto 

Before the mid 1980s the World Bank conceived “nature” as something to be “conquered” and “environment” as a source of resources for “development”. By the late 1980s the Bank incorporated norms of environmental sustainability and indigenous peoples’ protection into its mandate, and other development-oriented IOs followed. This two-part paper describes how a fight over the Polonoroeste road project in the Brazilian Amazon inside the Bank, between the Bank and NGOs supported by the US Congress, and between the Bank and the government of Brazil helped to generate the far-reaching change of policy norms. The first part describes how the project was designed as an innovation in sustainable development in rainforests; and how it provoked a firestorm inside the Bank as it moved towards project approval 

Vol.36, n.o1(142), 2016
The Swedish model: an alternative to macroeconomic policy
Alexandre Guedes Viana e Patrícia Helena F. Cunha

 O modelo sueco: uma alternativa para a política macroeconômica. O artigo apresenta as principais características do modelo econômico sueco, o qual começou a ser gestado na década de 1930 e se consolidou a partir de meados da década de 1950. O Modelo Sueco caracteriza-se por uma política macroeconômica que proporciona estabilidade de preços e espaço fiscal para políticas industriais seletivas e políticas sociais ativas, esta última reconhecida como um amplo e universal Estado do Bem-Estar Social. Esta combinação, que contradiz o receituário econômico convencional, se mostrou exitosa, dado que o país era subdesenvolvido e agrário até o início do século XX e alcançou elevado grau de desenvolvimento socioeconômico desde a década de 1970. Em seguida, expomos a experiência Sueca como uma alternativa à condução da política macroeconômica dada a sua singularidade.

 This paper describes the main details of the Swedish economic model, which began to be structured on the 1930’s and achieved its consolidation on the 1950’s. The Swedish Model is characterized by a macroeconomic policy which provides price stability, fiscal results for ive industrial policies and social active policies, the latter being recognized as a wide universal welfare state. This combination, which contradicts the traditional economic prescriptions, has been successful given the country was agrarian and underdeveloped until the beginning of 20th century and achieved a high social-economic development level on the 1970’s. Afterwards, we present the Swedish experiment as an alternative to macroeconomic management, especially due to its uniqueness.

Vol.36, n.o2(143), 2016
A estrutura e o mercado: uma análise comparativa do Plano Trienal e do PAEG
Leandro Vizin Villarino

 Este artigo propõe uma análise dos textos Plano Trienal ePAEG, documentos de planeamento econômico brasileiro dos anos 1960, verificando, por um lado, os aspectos teóricos econceituais sobre o seu diagnóstico retrospectivo, e, por outro, as condições socio econômicas de cada projetode texto prospectivamente como condição para a obtenção dos efeitos pretendidos. Essa análise não pretende apenas verificar a adequação de cada projeto à realidade brasileira, mas entender como os problemas internos de cada texto e suas relações podem ser elucidativos não apenas para a História das Idéias.mas para uma ampla reflexão sobre a história social, econômica e das instituições do Brasil.

 The structure and the market. This paper proposes an analysis of the texts Plano Trienal and PAEG, documents of economic planning in 1960s Brazil. We aim to check, on one hand, theoretical and conceptual aspects regarding its retrospective diagnosis, and, on the other, socioeconomic conditions each text projects for the future as condition for de achievement of their intended objectives. With such an analysis we do not aim to verify if the plans are suitable to the Brazilian reality, but to understand how internal problems of texts and its relations may be elucidatory no only to the History of Ideas, but also for a broad consideration of Economic, Social and Institutional History in Brazil.

Vol.36, n.o2(143), 2016
Sectoral capabilities and productive structure: An input-output analysis of the key sectors of the Brazilian economy
Nelson Marconi, Igor L. Rocha e Guilherme R. Magacho

 A complexa relação entre estrutura de produção e crescimento econômico tem sido significativamente discutida entre economistas brasileiros. Esse debate tornou-se especialmente relevante depois dos anos 2000, quando o Brasil passou por um período de crescimento originado pelo aumento das exportações de commodities, período este que contrastou com a estagnação observada nas duas décadas anteriores. Para analisar a capacidade das exportações de commodities em promover crescimento sustentado no longo prazo, este trabalho avalia a performance setorial e seus efeitos em setores relacionados nas cadeias à jusante e à montante através de matrizes insumo-produto. Essa análise gera duas conclusões principais. Primeiro, a expansão da produção agrícola e de commodities minerais exibem pouca capacidade de promover crescimento, pois esses setores apresentam baixos índices de ligação. Segundo, a análise da estrutura produtiva brasileira demonstra que setores relacionados à manufatura podem estimular outros setores, tais como serviços sofisticados, devido aos seus elevados encadeamentos com outros setores. Este estudo demonstra ainda que uma estratégia de desenvolvimento deve se beneficiar das vantagens comparativas a fim de promover uma mudança estrutural orientada pra expansão da manufatura.

  The complex relationship between production structure and economic growth has been the subject of considerable debate among Brazilian economists. This debate became especially relevant after the 2000s, when Brazil experienced a period of growth from the rise of commodity exports, which contrasted with the stagnation observed in the previous two decades. To analyse the capacity of commodity exports to generate long-term economic growth, this paper assesses this sector’s performance and its effects on related sectors in the upstream supply chain through input-output tables. These analyses lead to two main conclusions. First, expansion of agricultural and mineral commodities production exhibited little capacity to boost the economy because they have the lowest linkage indices. Second, the analysis of the Brazilian production structure demonstrated that sectors related to manufacturing can stimulate other sectors, such as sophisticated services, because of their high linkage effects on other sectors. This study also demonstrates that a development strategy should take benefit of comparative advantages in order to reach a structural change oriented toward expanding manufacturing.

Vol.36, n.o3(144), 2016
The sources for orthodox and heterodox trade and industrial policies in Brazil
Jan-Ulrich Rothacher

 Ao longo dos últimos anos o governo brasileiro tem promulgado uma mistura de políticas ortodoxas e heterodoxas para o desenvolvimento econômico. Este trabalho visa testar se as ideias econômicas existentes têm sido prescritivas na formulação das políticas, ou se têm sido o resultado da "infusão de interesses privados" (Katzenstein, 1978) no processo de decisão política. Para esse efeito, o artigo traça as origens da abertura unilateral para o comércio no agronegócio e as contrasta com o processo político na indústria automobilística, onde as barreiras comerciais foram erguidas. O artigo irá identificar os canais através dos quais os atores privados informaram as intervenções do governo e mostrar que os organismos da indústria estimularam o governo. O labirinto político resultante deixou insatisfeitos tanto os representantes ortodoxos bem como aqueles da abordagem heterodoxa, e não conseguiu parar o encolhimento da capacidade manufatureira do Brasil.

 The Brazilian government has over the past years promulgated a mix of orthodox and heterodox policies for Brazil’s economic development. This paper seeks to test whether the existing economic ideas have been prescriptive in formulating the policies, or whether they have been the outcome of the “infusion of private interests” (Katzenstein 1978) in the policy making process.To this end, the paper charts the origins of the unilateral opening for trade in the agribusiness and contrasts them with the policy process in the car industry, where trade barriers have been erected. The article will identify the channels through which private actors informed the government’s interventions and show that the industry bodies have largely prodded the government. The resulting policy maze has left both the representatives of the orthodox as well those of the heterodox approach unsatisfied and has failed to halt Brazil’s dwindling manufacturing capabilities.

Vol.36, n.o3(144), 2016
A taxa de câmbio como instrumento do desenvolvimento econômico
Lauro Mattei e Thaís Scaramuzzi

 O artigo discute a importância da taxa de câmbio no processo de desenvolvimento econômico. Após fazer uma breve discussão do tema, apresenta-se um histórico sobre a política cambial brasileira após 1995 no âmbito do programa de estabilização macroeconômica. Neste caso, discutem-se os efeitos da política cambial sobre a indústria do país realçando-se o fato de que existem evidências empíricas que apontam para a desindustrialização. Este aspecto, em grande medida, é explicado pelo comportamento dos dados sobre a intensidade tecnológica dos produtos exportados e importados. Recentemente, observou-se uma expansão bastante expressiva dos produtos não industriais na pauta do comércio externo do país, indicador que pode estar sinalizando a existência de um processo de desindustrialização em curso.

 This article discusses the importance of the exchange rate in the economic development process. After a brief discussion about this issue, the paper presents a historical vision of the exchange policy adopted in Brazil from 1995 until now. This policy took part in the stabilization macroeconomic program implemented in the country since then. Thus, we are discussing the main effects of the economic exchange policy over the industrial sector, highlighting the fact that there are some empirical evidences about the deindustrialization process in Brazil nowadays. What could explain it is the behavior of the share of technological content of the products that compose the international trade of the country. Recently one can observe that there is an expressive growth in the share of the non-industrial products, which could characterize the deindustrialization process in the country. 

Vol.36, n.o4(145), 2016
Investimentos em infraestrutura de transportes e desigualdades regionais no Brasil: uma análise dos impactos do Programa de Aceleração do Crescimento (PAC)
Guilherme Jonas Costa da Silva, Humberto Eduardo de Paula Martins e Henrique Dantas Neder

 O trabalho tem por objetivo analisar os efeitos dos investimentos em infraestrutura, em particular, de transportes, realizados no âmbito do Programa de Aceleração do Crescimento (PAC) sobre a dinâmica regional brasileira. As hipóteses investigadas no trabalho são: (i) os investimentos em infraestrutura contribuem para o crescimento econômico dos estados brasileiros; (ii) os investimentos em infraestrutura realizados no âmbito do PAC têm contribuído para aumentar as taxas de crescimento econômico dos estados brasileiros, (iii) bem como para alterar a dispersão das taxas de crescimento econômico entre os estados, em particular, a favor dos estados de menor produto. Para tanto, emprega-se a metodologia de dados em painel e Bootstrapping para as estimativas e predições realizadas, respectivamente. Os resultados empíricos confirmaram apenas a primeira hipótese, mas não as demais, indicando que o PAC não tem contribuído significativamente para aumentar a taxa média de crescimento do produto per capita dos estados e nem para reduzir as desigualdades regionais no País.

 The article analyses the effects of investments in infrastructure – in particular regarding transport sector carried out under the Growth Acceleration Program (PAC) – on the Brazilian regional dynamics.The hypotheses investigated in the study are: (i) infrastructure investments have contributed to the economic growth of the Brazilian states; (ii) PAC’s infrastructure investments have helped to increase the economic growth rates of the Brazilian states, (iii) PAC’s infrastructure investments have changed the dispersion of economic growth rates between states, in favor of poorer states. We employ the methodology of panel data for the estimates and Bootstrapping for predictions. The empirical results only confirmed the first hypotheses, but not the last two ones, indicating that the PAC has not contributed significantly to amplify the average rate of growth of GDP per capita at state level; and also that PAC has not contributed to reduce regional inequalities.  

Vol.36, n.o4(145), 2016
Raúl Prebisch e a concepção e evolução do sistema centro-periferia
Joaquim Miguel Couto

Este artigo descreve a trajetória profissional de Raúl Prebisch e, ao mesmo tempo, analisa sua contribuição teórica no momento em que buscava decifrar a história e os problemas do desenvolvimento econômico da América Latina. De assessor de ministros a direção do Banco Central Argentino, da CEPAL para a UNCTAD, batalhas não lhe faltaram. Enquanto trilhava suas funções públicas, Prebisch foi interpretando teoricamente o mundo em que vivia. Nasceu, assim, o sistema centro-periferia, que incluía as ideias do crescimento para dentro, a deterioração dos termos de intercâmbio e a luta pela industrialização através da substituição de importações.

This paper describes the career of Raul Prebisch and, at the same time, analyze his theoretical contribution when he tried to decipher the history and problems of economic development in Latin America. From adviser to ministers to the direction of the Argentine Central Bank, from ECLAC to UNCTAD he faced many battles. While worked in public positions, Prebisch was theoretically interpreting the world in which he lived. Thus emerged the core-periphery system, which included ideas of growth, the deteriorating terms of trade and the struggle for industrialization through import substitution.

Vol.37, n.o1(146), 2017
Por que o governo Dilma não pode ser classificado como novo-desenvolvimentista?
Marcelo Curado

Este artigo examina o papel da agenda novo desenvolvimentista para as ações na área econômica do governo Dilma Rousseff. O artigo pretende contribuir para a área de pesquisa que examina a relevância de escolas do pensamento econômico para a política econômica no Brasil. A conclusão central é que – a despeito da elevação da intervenção do Estado na economia – nós não podemos argumentar que a agenda novo desenvolvimentista jogou um papel importante no governo Dilma Rousseff. A ausência de uma “estratégia nacional de desenvolvimento” e de elementos essenciais da política macroeconômica novo desenvolvimentista suportam esta conclusão.

This paper examines the role of new developmentalist agenda for actions in the economic area of Dilma Rousseff's government. The paper aims to contribute to the research area that examines the relevance of schools of economic thought to economic policy in Brazil. The central conclusion is that - despite the increase in the state intervention in the economy - we cannot argue that the new developmentalist agenda played an important role in Dilma Rousseff's government. The absence of a "national development strategy" and essential elements of the new developmentalist macroeconomic policy support this conclusion.

Vol.37, n.o1(146), 2017
Transformações na estrutura produtiva global, desindustrialização e desenvolvimento industrial no Brasil
Celio Hiratuka e Fernando Sarti

Este artigo tem como principal objetivo destacar as principais transformações da economia global que condicionam o desenvolvimento industrial brasileiro e suas possibilidades de avançar em direção a uma estrutura produtiva mais robusta. Argumenta-se que o debate sobre a desindustrialização no Brasil, embora tenha tido uma importante contribuição para ressaltar a importância da indústria para o desenvolvimento econômico, não aprofundou a discussão sobre os limites e possibilidades de desenvolvimento industrial brasileiro por não considerar adequadamente estas transformações, associadas principalmente ao acirramento da concorrência global e à reorganização das grandes empresas transnacionais.

This paper aims to highlight the major changes in the global economy that affect Brazilian industrial development and mark out the strategies that could move the country toward a more robust productive structure. It is argued that the debate on deindustrialization in Brazil, although it had an important contribution to highlight the importance of manufacturing for economic development, did not deep the discussion about the limits and possibilities of Brazilian industrial development. That debate did not adequately consider those changes in the global economy, related to the more fierce global competition scenario and to the changes in the strategies of Transnational Corporations.

Vol.37, n.o1(146), 2017
Alternate paths to economic development: a comparative analysis of Brazil and India in the era of neoliberalism
Rahul A. Sirohi

 Este artigo compara e contrasta as estratégias de desenvolvimento brasileiro e indiano durante a era do neoliberalismo a partir de uma perspectiva de longo período. A economia brasileira tem tentado combinar os objetivos de redistribuição e eqüidade social com os objetivos de crescimento e produtividade. A Índia, por outro lado, tem seguido uma abordagem de maximização do crescimento em prol do desenvolvimento, embora preste pouca ou nenhuma atenção aos maiores objetivos do bem-estar humano. O artigo busca compreender a dinâmica da mudança econômica nas duas economias e tenta extrair os fatores institucionais e políticos que influenciaram essas abordagens.

 This paper compares and contrasts Brazilian and Indian strategies of development during the era of neo-liberalism from a long period perspective. The Brazilian economy has attempted to combine the goals of redistribution and social equity with the goals of growth and productivity. India on the other hand has pursued a growth maximizing approach to development, while paying little or no attention to the larger goals of human well-being. The article seeks to understand the dynamics of economic change in the two economies and attempts to draw out the institutional and political factors that have influenced these approaches.

Vol.37, n.o2(147), 2017
The behavioral turn in development economics: A tentative account through the lens of economic methodology
Roberta Muramatsu and Flavia Avila

 Este artigo busca oferecer uma interpretação sobre porque insights da economia comportamental foram incorporados à agenda de pesquisa sobre o desenvolvimento econômico inspirada pelas lentes da metodologia da economia. Embarca-se em uma revisão extensa da literatura que se concentra na prática efetiva "da análise comportamental do desenvolvimento econômico e visão da economia comportamental da pobreza". Tal agenda surgiu nos primeiros anos do século XXI para identificar e discutir algumas direções e implicações que esse movimento pode trazer para a ciência e arte da Economia.

 This paper aims to provide an interpretation of why behavioral economics has come into the complex field of development economics that draws on insights from methodology of economics. We engage in an extensive survey of the literature that focuses on the actual practice of “behavioral development economics and behavioral economics view of poverty” that emerged in the early years of the 21st century in order to identify and discuss some directions and implications that this movement might carry for economics science and art of Economics. 

Vol.37, n.o2(147), 2017
China em transformação: transição e estratégias de desenvolvimento
Marcos Antonio Macedo Cintra e Eduardo Costa Pinto

 Este artigo examina as atuais estratégias de desenvolvimento da China, que enfrenta um período de transição interna – em virtude das contradições do seu regime de crescimento –, e redefinições das relações com o resto do mundo que vem desencadeando um processo de reconfiguração da ordem mundial (transição internacional). Dois dos principais eixos dessa estratégia chinesa são a ampliação do uso do renminbi no âmbito mundial e a internacionalização do capital chinês por meio dos megaprojetos de infraestrutura, notadamente no entorno asiático.

 This paper analyses China’s the current development strategies. This country has been facing a domestic transition period – resulting from contradictions of its current growth regime – and a redesign of its relations with the rest of the world that has promoting a process of reconfiguration of the world order (international transition). Two major axes of this Chinese strategy are the extension of the usage of renminbi to a global level and the internationalization of the Chinese capital through infrastructure megaprojects, chiefly in Asian surroundings.

Vol.37, n.o2(147), 2017
O estado pastor e os incentivos tributários no setor automotivo
Mario Gomes Shapiro

 Este trabalho tem o objetivo de descrever os incentivos tributários que foram implementados nas últimas décadas com vistas a promover a competitividade do setor automotivo. Além disso, pretende qualificar o papel que o Estado tem desempenhado neste segmento. Baseado na literatura de regulação econômica e de economia política, o trabalho sugere que as políticas tributárias adotadas para o setor têm conformado mais um Estado “pastor” do que um Estado “parteiro”. Isto é, os incentivos tributários têm se orientado para corrigir falhas sistêmicas e assim proteger um segmento já estabelecido e não propriamente para estimular a formação de novascompetências econômicas.

 Taking into account longevity of tax incentives in the automobile sector, this paper intends to pursue two consecutive objectives. Firstly, the paper describes the incentives implemented in the last decades were designed to promote the sector’s competitiveness. Secondly, this article presents a qualitative assessment of the role developed by the State in this segment. Based on literature on political economy and regulation, the claim of this research is that tax policies adopted in favor of automobile sector have favored more a “husbandry” State, rather than a “midwifery” one. In other words, the public policies established were typically oriented to protect a previous defined segment, instead of stimulating new competences and capabilities 

Vol.37, n.o2(147), 2017
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