Artigos Internacionais
The majority of economic literature tends to discuss economic development issues by analysing the industrial policy and other long-term development policies separate from short-term macroeconomic policy. However, development strategies require a close coordination of the macroeconomic regime with the industrial policy. In addition to Brazil, our analytical discussion and normative implications can be addressed to other developing countries also facing premature deindustrialisation. We propose an analytical discussion of the phenomena of industrialisation, deindustrialisation and reindustrialisation, including a discussion on the connection between the macroeconomic regime and industrial policy, both oriented to reindustrialisation and catching up. The main point is that both policy regimes must be closely coordinated with each other. Concerning the macroeconomic regime, we argue that consistent monetary, fiscal, wage and exchange rate policies are those which are able to not only keep price stabilisation, but also provide average real interest rates below the average real return rates on capital, a competitive real exchange rate and real wage rates increasing in accordance with labour productivity growth. As for industrial policy, theoretical and empirical evidence suggest strategies aimed at the diversification of production, processes and products, especially within the manufacturing sector and within tradable segments of the service sector.
André Nassif, Luiz Carlos Bresser-Pereira and Carmem Feijo
We present a Kaldor–Thirlwall theoretical and empirical framework on the basic driving forces of the behaviour of productivity and economic...
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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 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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