Política industrial e compromissos críveis: uma proposta de análise e de ação governamental

This paper analyses the question of the counterparts that governments should claim from firms and/or economic sectors supported by vertical industrial policy. This is a discussion that still have to advance because everything indicate that the set of current counterparts (goals of costs, productivity, exportation, etc.) still may be increased and improved, what will facilitate the assessment of industrial policy execution by society and the verification of its efficacy in order to yielding more possibilities of economic growth for a country or region. To reinforce the commitment credibility of the agents supported by industrial policy, this paper proposes to maintain the counterparts meant before and that such agents will be stimulated to commit specific assets in their activities that are supported by govern. It is shown that, without use more public resources than the used currently, this new counterpart may reinforce substantially the incentives that the firms supported by vertical industrial policy have it to execute the traditional counterparts assumed by them, and with it guarantee the best possible use of public resources.

Karl Polanyi, Athens and us: the contemporary significance of Polanyi's thought

Karl Polanyi is considered one of the most prominent social scientists of the 20th century. In his writings, an important concern was the relationship between the markets and the society (therefore, the state) as a whole; to discuss it, he introduced the concept of "embeddedness", fundamental for his study of the origins and consequences of the Industrial Revolution. An important part of his heritage is the study of the economic history of what he called "ancient societies," especially of Classical Greece. Polanyi used these studies to compare the ancient societies with his own times, in an effort to understand them all. This paper aims to relate Polanyi's work on the Athenian society with his studies about the modern times, showing that it is possible to draw lessons from Polanyi's thought on the relationship between the society, the state and the market that can help to design a political agenda for our days. In the first part, we present the most important aspects o the life and work of Polanyi, and in the second we discuss the most important aspects of his worldview. Then, in the third part, we study his view of the early Athenian economy; mainly, we focus on the coexistence of a kind of state planning and a market, showing how this understanding is crucial for the whole Polanyian legacy, with its emphasis in the comparison of different societies and times. We conclude by underlining the relevance of this interpretation advanced by Polanyi to understand the societies of our days, focusing on some proposals to extend his approach to deal with our contemporary problems.

The industrial equilibrium exchange rate in Brazil: an estimation

This paper presents a methodology for calculating the industrial equilibrium exchange rate, which is defined as the one enabling exporters of state-of-the-art manufactured goods to be competitive abroad. The first section highlights the causes and problems of overvalued exchange rates, particularly the Dutch disease issue, which is neutralized when the exchange rate strikes the industrial equilibrium level. This level is defined by the ratio between the unit labor cost in the country under consideration and in competing countries. Finally, the evolution of this exchange rate in the Brazilian economy is estimated.

Política industrial e desenvolvimento econômico: a reatualização de um debate histórico

Industrial policy and economic development: a review of the contemporary debate. This paper discusses the importance of the industrial policy for the Brazilian economic development. It presents the theoretical foundations and the main international experiences about this theme. Besides it examines the main industrial policies adopted in Brazil, especially in recent years. Based on this discussion, it is possible to note that despite the criticisms against this policy, they were widely used by many developed countries in the past and also played an important role, contributing to increase the industrial growth in Brazil. However, the recent Brazilian industrial policies were not so efficient, especially when compared with those adopted during most of the 20th century.

A política industrial chinesa como determinante de sua estratégia going global

China has experienced not only high rates of economic growth as well as an unprecedented competitive international insertion since the turn of the century. This process was not guided solely by market forces or influenced by Government intervention in the economy. Although much has been argued that China's "going global" strategy is rooted in state action, and especially its policy of exchange rate depreciation and trade policy incentives for exports and investments abroad, we argue that the major determinant of this strategy, which established the basic conditions for industrial competitiveness, was its industrial policy. The focus of this article is on the changes in China's industrial structure, emphasizing that Chinese industrial policy is a central determinant of its international insertion strategy.

Políticas productivas y competitividad industrial: El caso de Argentina y Brasil

This article aims, on the one hand, to analyze the increase of productive asymmetries between Argentina and Brazil that have been evidencing during the last two decades, and are currently reveled in the structural trade deficit of industrial products that affects Argentina in the bilateral relationship. On the other hand, it intends to contribute to understanding the roots of these asymmetries based on the differences in the public policies implemented by both countries during the period extending from the implementation of the Mercosur, in the early 1990s, until 2008. The focus is set on the technological pattern of industrial production and trade structures, considering a non neutral impact over the long term development.

Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil

The present article aims to analyze the recent behavior of real exchange rate in Brazil and its effects over investment per worker in Brazilian manufacturing and extractive industry. Preliminary estimates presented in the article shows an over-valuation of 48% of real exchange rate in Brazil. The reaction between the level (and volatility) of real exchange rate and investment (per worker) in Brazil is analyzed by means of a panel data econometric model for 30 sectors of Brazilian manufacturing and extractive industry. The empirical results show that the level and volatility of real exchange rate has a strong effect over investment per worker in Brazilian industry. Finally, we conclude the article presenting a proposal for a new macroeconomic regime that aims to produce an acceleration of economic growth of Brazilian economy and, by that, a catching-up process with developed countries.

O enigma da política industrial no Brasil

RESUMOAo longo dos últimos 10 anos, o governo brasileiro lançou vários planos para promover a inovação da indústria e reforçar sua competitividade a nível nacional. No entanto, os resultados têm se mostrado pobres devido às distorções criadas por alguns instrumentos herdados da época da substituição de importações, tais como altas tarifas sobre bens intermediários e de máquinas, regras de conteúdo local e proteção antidumping. Este artigo destaca o papel desempenhado por esses instrumentos usando dois exemplos: investigações antidumping e uma regra de conteúdo local peculiar que só existe no Brasil, o chamado Processo Produtivo Básico (PPB).

Desindustrialização e o investimento em infraestrutura como instrumento conciliador de uma política industrial base no Brasil

RESUMOO fraco desempenho da indústria brasileira no período pós-crise de 2008 retomou o debate em torno da necessidade de um esboço de política industrial. Por conseguinte, e dadas as suas características, o investimento em infraestrutura se apresenta como uma alternativa conciliadora e eficiente na tarefa de devolver a competitividade a este setor. Este trabalho tem como objetivo aprofundar o debate sobre a questão da desindustrialização da economia brasileira e contribuir para a discussão sobre a funcionalidade do investimento em infraestrutura como instrumento de política industrial, enfatizando seu caráter conciliador no que chamamos aqui de uma política industrial base.