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Macrodynamic Capability: Concept and Monetary and Financial Conditions

Author

Listed:
  • Maria de Lourdes Rollemberg Mollo

    (Departamento de Economia (Department of Economics) Faculdade de Economia, Administração, Contabilidade e Ciência da Informação e Documentação (FACE) (Faculty of Economics, Administration, Accounting and Information Science) Universidade de Brasília)

  • Joanílio Rodolpho Teixeira

    (Departamento de Economia (Department of Economics) Faculdade de Economia, Administração, Contabilidade e Ciência da Informação e Documentação (FACE) (Faculty of Economics, Administration, Accounting and Information Science) Universidade de Brasília)

Abstract

We consider the concept of Macrodynamic Capability, exploring an heterodox content whose analytical foundation is derived from a number of scholars of diverse ideological conceptions which casts light on the different ways that economies deal with the role and impact of institutional, monetary and financial development to attain some degree of effectiveness in investment, innovation, structural change and economic development. Relevant aspects of the Brazilian economy are considered. In particular, we show some empirical evidence of the banking sector’s concentration and monetary policy which explains to a large extent the prevailing interest rates and high spreads, in disfavour of productive investment and leading to the country’s poor socio-economic performance.

Suggested Citation

  • Maria de Lourdes Rollemberg Mollo & Joanílio Rodolpho Teixeira, 2005. "Macrodynamic Capability: Concept and Monetary and Financial Conditions," Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia 323, Departamento de Economia da Universidade de Brasilia.
    • Handle: RePEc:brs:wpaper:323
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    File URL: http://e-groups.unb.br/face/eco/textos/didaticos/323setembro2005.pdf
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    More about this item

    Keywords

    Macrodynamic Capability; Finance; Structural Change; Economic Policy; Brazil;
    All these keywords.

    JEL classification:

    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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