Artigos Internacionais
We present a Kaldor–Thirlwall theoretical and empirical framework on the basic driving forces of the behaviour of productivity and economic development in the long run. By calculating the so-called Thirlwall equation, the main contribution of our research is to examine whether Brazil has been catching up or falling behind. We show some empirical evidence based on both descriptive statistics and econometric regressions for Brazil between 1970 and 2010. Some important indicators of descriptive statistics reveal that Brazil has entered into a process of early deindustrialisation. In addition, since our econometric estimates also show that there was a dramatic increase in the income elasticity of demand for imports between 1980–98 and 1999–2010 (from 1.97 to 3.36) and a small decrease in the income elasticity for exports during the same periods (from 1.36 to 1.33), we conclude that Brazil not only has already embarked on a trajectory of falling behind relative to the world economy and the international economic frontier, but also that it might show, in the absence of appropriate policies, lower growth rates in the long run. However, if the opposite occurs, it would face major long-term external constraints to growth.
André Nassif, Carmem Feijó and Eliane Araújo
Even though the New Macroeconomic Consensus (NMC) guidelines have been under review by mainstream economists from developed countries since the 2008...
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This article analyses changes in the structure and competitiveness of the Brazilian capital goods industry since the early 1990s and proposes a...
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The majority of economic literature tends to discuss economic development issues by analysing the industrial policy and other long-term development...
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The aim of this paper is to shed some light on the issue of why some BRICS countries are doing much better than others after the international...
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The acronym BRIC (Brazil, Russia, India and China), which later became BRICS with the inclusion of South Africa, was first coined by the Goldman...
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The aim of this paper is to shed some light on the issue of why some BRICS countries are doing much better than others after the international...
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Labor productivity growth in Brazil, after showing positive annual rates between 1950 and 1979, became stagnant after 1980. We decompose, calculate...
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