Os pilares institucionais da política cambial e a industrialização nos anos 1930

The Institutional pillars of the foreign exchange policy and industrialization in Brazil in the 1930s. The 1930s constitute one milestone in the Brazilian economic development, as the accelerated industrialization process has started and became the dominant domestic policy. This paper reviews this period focusing on the institutional changes restructuring exchange transactions, to curb financial flows and balance external payments

Autonomy of the state and development in the democratic capitalism

The paper argues that if the state, as an expression and part of a pact of domination, operates as a corporate actor with relative autonomy, vision and capacity to promote the development, it is a key institution to the economic transformation. Supported in the neo-Marxism, exposes the limits of institutionalist approach of autonomy of the state to explain its origin, but does not rule out this approach. Maintains that the class-balance theory of the state may explain its relative autonomy and at the same time aid in understanding the historical experiences of social-developmentalist state action, particularly in the social democratic regimes and in the current Latin America.

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.

Economic stagnation in the United States: underlying causes and global consequences

This paper analyzes the causes of the slow recovery of the US economy since the financial crisis and Great Recession of 2008-9. Fallen house values and excessive household debts continue to depress consumer spending, while corporations are failing to invest in spite of record profits. The increasingly unequal distribution of income limits demand, while long-term structural transformations continue to erode employment creation. An expansionary monetary policy has been incapable of sparking a more robust recovery and fiscal policy has been shifted to an austerity stance. In this context, Brazil and other emerging market nations cannot count on the United States to continue to be the leading source of global demand as it was in previous decades.