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Strengthening business groups and state intervention: the new developmentalism in Brazil

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  • Fernanda Cimini Salles

    (Cedeplar-UFMG)

Abstract

The paper addresses the interaction between business groups and state intervention in Brazil under the New Developmentalism, inquiring to what extent the new role played by the state in the hallmark of the “new developmentalism agenda” is complementary to the strategy and practices adopted by Brazilian business groups. The paper suggests that the concentration of governance control in the hands of a tiny elite pushes for champion-promoting strategies, generating a complementarity between the institutional domain of corporate governance and the industrial policies promoted by the state. The unforeseen consequence of these “on-the-ground” strategies is that, in Brazil, hierarchical capitalism and state developmentalism are mutually reinforcing each other.

Suggested Citation

  • Fernanda Cimini Salles, 2017. "Strengthening business groups and state intervention: the new developmentalism in Brazil," Textos para Discussão Cedeplar-UFMG 550, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td550
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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20550.pdf
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    References listed on IDEAS

    as
    1. Daniel Arruda Coronel & Antônio Carvalho Campos & André Filipe Zago De Azevedo, 2014. "Política Industrial E Desenvolvimentoeconômico: A Reatualização De Um Debate Histórico," Anais do XL Encontro Nacional de Economia [Proceedings of the 40th Brazilian Economics Meeting] 090, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
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    More about this item

    Keywords

    New Developmentalism; Business Groups; Hierarchical Capitalism;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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