IDEAS home Printed from https://ideas.repec.org/a/sae/reorpe/v50y2018i2p370-391.html
   My bibliography  Save this article

The Accumulation of Capital and Economic Growth in Brazil: A Long-Term Perspective (1950–2008)

Author

Listed:
  • Juan Pablo Mateo

Abstract

This article analyzes the economic growth in Brazil in 1950–2008. It shows that a fall in both the profit rate and the output/capital ratio is behind the debt crisis and the subsequent neoliberal restructuring since the late 1980s. Therefore, there has not been any disconnection between profitability and investment, so the capacity to generate surplus underlies the particularities of the capital accumulation during both the import substitution and the neoliberal phases.

Suggested Citation

  • Juan Pablo Mateo, 2018. "The Accumulation of Capital and Economic Growth in Brazil: A Long-Term Perspective (1950–2008)," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(2), pages 370-391, June.
    • Handle: RePEc:sae:reorpe:v:50:y:2018:i:2:p:370-391
    DOI: 10.1177/0486613417696530
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0486613417696530
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0486613417696530?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Turan Subasat (ed.), 2016. "The Great Financial Meltdown," Books, Edward Elgar Publishing, number 16480.
    2. Shaikh, Anwar, 2016. "Capitalism: Competition, Conflict, Crises," OUP Catalogue, Oxford University Press, number 9780199390632.
    3. Tostes Lamonica, Marcos & Feijó, Carmem Aparecida, 2012. "Importancia del sector industrial para el desarrollo de la economía brasileña," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    4. Dalum, Bent & Laursen, Keld & Verspagen, Bart, 1999. "Does Specialization Matter for Growth?," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 8(2), pages 267-288, June.
    5. Miguel Bruno, 2007. "Financiarisation et accumulation du capital productif au Brésil les obstacles macro-économiques à une croissance soutenue," Revue Tiers-Monde, Armand Colin, vol. 0(1), pages 65-92.
    6. Robert Rowthorn & Ramana Ramaswamy, 1999. "Growth, Trade, and Deindustrialization," IMF Staff Papers, Palgrave Macmillan, vol. 46(1), pages 1-2.
    7. Alfredo Saad-Filho & Maria de Lourdes R. Mollo, 2002. "Inflation and stabilization in Brazil: a political economy analysis," Review of Radical Political Economics, Union for Radical Political Economics, vol. 34(2), pages 109-135, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mateo Tomé, Juan Pablo, 2014. "The accumulation of capital and economic growth in Brazil. A long-term perspective (1950-2008)," Economics Discussion Papers 2014-3, School of Economics, Kingston University London, revised 04 Mar 2015.
    2. Mark Knell & Simone Vannuccini, 2022. "Tools and concepts for understanding disruptive technological change after Schumpeter," Jena Economics Research Papers 2022-005, Friedrich-Schiller-University Jena.
    3. Stefano Di Bucchianico, 2020. "A note on financialization from a Classical-Keynesian standpoint," Department of Economics University of Siena 824, Department of Economics, University of Siena.
    4. Moritz Cruz & Armando Sánchez‐Vargas, 2022. "Government spending and the exchange rate: Exploring this relationship in Mexico using a cointegrated system of equations," Review of Development Economics, Wiley Blackwell, vol. 26(1), pages 587-605, February.
    5. Eric Kemp‐Benedict, 2020. "Convergence of actual, warranted, and natural growth rates in a Kaleckian–Harrodian‐classical model," Metroeconomica, Wiley Blackwell, vol. 71(4), pages 851-881, November.
    6. Enrico Sergio Levrero & Giacomo Sbrenna, 2022. "Some Factors Affecting US Capital Profitability over the Last Decades," Bulletin of Political Economy, Bulletin of Political Economy, vol. 16(2), pages 77-101, December.
    7. Alexandre Messa, 2012. "Structural Change in The Brazilian Economy in The 2000s," Discussion Papers 1770, Instituto de Pesquisa Econômica Aplicada - IPEA.
    8. Moritz Cruz, 2008. "Can Free Trade Guarantee Gains from Trade?," WIDER Working Paper Series RP2008-97, World Institute for Development Economic Research (UNU-WIDER).
    9. Phil Armstrong, 2020. "Can Heterodox Economics Make a Difference?," Books, Edward Elgar Publishing, number 19964.
    10. Armando J. Garcia Pires & José Pedro Pontes, 2021. "(De)Industrialization, Technology and Transportation," Open Economies Review, Springer, vol. 32(3), pages 527-538, July.
    11. Jacobo, Juan, 2022. "A multi time-scale theory of economic growth and cycles," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 143-155.
    12. Juan R. Cuadrado-Roura & Andres Maroto-Sanchez, 2011. "Regional productivity growth in European countries. The role of services," ERSA conference papers ersa10p163, European Regional Science Association.
    13. Karla Susana Barron Arreola & Ulises Castro Alvarez, 2015. "Especializacion y Productividad del Sector Turistico en Mexico," Revista Internacional Administracion & Finanzas, The Institute for Business and Finance Research, vol. 8(5), pages 45-61.
    14. Magnani, Natalia & Vaona, Andrea, 2013. "Regional spillover effects of renewable energy generation in Italy," Energy Policy, Elsevier, vol. 56(C), pages 663-671.
    15. Luis Daniel Torres-González, 2020. "The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves," Working Papers 2016, New School for Social Research, Department of Economics.
    16. Nassif, André & Morandi, Lucilene & Araújo, Eliane & Feijó, Carmem, 2020. "Economic development and stagnation in Brazil (1950–2011)," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 1-15.
    17. Ugo Rossi, 2019. "The common-seekers: Capturing and reclaiming value in the platform metropolis," Environment and Planning C, , vol. 37(8), pages 1418-1433, December.
    18. Fulvio Castellacci, 2007. "Technological regimes and sectoral differences in productivity growth ," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(6), pages 1105-1145, December.
    19. Cauvel, Michael & Pacitti, Aaron, 2022. "Bargaining power, structural change, and the falling U.S. labor share," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 512-530.
    20. Lucrezia Fanti, 2018. "An AB-SFC Model of Induced Technical Change along Classical and Keynesian Lines," Working Papers 3/18, Sapienza University of Rome, DISS.

    More about this item

    Keywords

    growth; capital; profitability; productivity;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:reorpe:v:50:y:2018:i:2:p:370-391. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.urpe.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.