China has presented one of the most noticeable growth experiences in economic history. High growth rates in the post-1978 reform period have been marked by deep structural changes in the Chinese ...economy. This paper aims to discuss China's long-term economic growth from a Kaldorian-Structuralist framework that emphasises the importance of a large, diversified and integrated industrial base as a central engine of economic growth that may prevent balance-of-payments constraints. This study applies input-output indicators to reveal key sectoral transformations of the Chinese productive structure and changes in interindustry linkages during the 1990s and 2000s. Results provide evidence that: (i) the Chinese sustained growth pattern has relied on a diversified and increasingly integrated domestic industrial production; and (ii) most sectors have been able to generate through exports enough foreign exchange to pay for import needs.
•Post-2008 Brazilian policies comprised different instruments and several sectors.•Input-output analysis assesses the potential role of sectors in economic recovery.•Industrial sectors present ...stronger linkages but are losing ground in the economy.•There is more evidence for supporting some of the benefited sectors than others.•Sustained recovery requires industrial development to tackle external constraints.
This paper addresses the Brazilian productive structure and the major economic policies undertaken in the face of the international economic crisis. Input-output techniques are applied to Brazilian national accounts and present a picture of the potential role of different sectors in the recovery of the economy. Considering the country’s economic performance at the time, post-2008 economic policies adopted in Brazil are discussed, with emphasis given on the tax break policy, inserted into a broader policy scope. Results show that industrial sectors have stronger linkages in terms of production and employment maintenance in the economy but have been losing ground in the productive structure. Among them, there is evidence in favour of supporting more some sectors, such as the automobile and the construction industries, rather than others, such as white goods appliances and furniture, but especially the need of recovering industrial development as a whole for sustained economic growth.
Abstract
This paper assesses the phenomenon of “reprimarization” of Brazilian exports in the 2003-2015 period from a firm size perspective. Export “reprimarization” has been an important worldwide ...issue but more accentuated in Brazil. In this regard, the paper reveals important differences between exports of large and small firms regarding the proportion of exporting companies, total amount exported and, especially, export composition according to levels of technological intensity and product categories. It shows that the Brazilian export dynamics were deeply associated with the exporting behavior of large firms in the period. Responsible for the greatest part of total Brazilian exports, they presented exports relatively more concentrated in primary goods, benefiting more from the boom of commodities. Smaller firms tend to face bigger challenges to start exporting or to become successful exporters. Despite this fact, micro and small firms showed an export composition relatively less dependent on commodities and more dependent on higher technology-intensive products, therefore with important policy implications in favor of supporting their international activity.
Keywords: exports; Brazil; “reprimarization”; firm size; technological intensity.
JEL Classification: F14; L25; O54.
This paper analyzes the role played by the Brazilian Development Bank (BNDES) in different periods of Brazil's development process since its founding in 1952. The bank's history is nonlinear, varying ...with socio-economic and political changes over time. Four major periods in its history are: (i) from its creation to the debt crisis in the 1980s, a period known as 'developmentalism'; (ii) the neoliberal movement of the 1990s; (iii) the reintroduction of the BNDES as a relevant tool for development in the 2000s; and (iv) a new neoliberal movement that arose beginning in mid-2016. Each of these periods is characterized by certain development conventions that shape how institutions, such as the BNDES, operate, and at the same time are shaped by them. In contrast to mainstream economics, which focuses on a one-size-fits-all institution for development, this paper evaluates the interactions between development and institutions as historical processes, with an emphasis on the prevailing development conventions. The trajectory and different roles assumed by the BNDES over time exemplify this permanent relationship, rejecting the idea that particular types of institutions are related to development.
Bancos públicos na era da financeirização Palludeto, Alex Wilhans Antonio; Borghi, Roberto Alexandre Zanchetta
Economia e Sociedade,
05/2022, Letnik:
31, Številka:
2
Journal Article, Book Review
Recenzirano
Odprti dostop
Resenha de: Public banks in the age of financialization: a comparative perspective. Editado por Christoph Scherrer. Edward Elgar, 2017. (Advances in Critical Policy Studies).
AbstractThis paper assesses the phenomenon of “reprimarization” of Brazilian exports in the 2003-2015 period from a firm size perspective. Export “reprimarization” has been an important worldwide ...issue but more accentuated in Brazil. In this regard, the paper reveals important differences between exports of large and small firms regarding the proportion of exporting companies, total amount exported and, especially, export composition according to levels of technological intensity and product categories. It shows that the Brazilian export dynamics were deeply associated with the exporting behavior of large firms in the period. Responsible for the greatest part of total Brazilian exports, they presented exports relatively more concentrated in primary goods, benefiting more from the boom of commodities. Smaller firms tend to face bigger challenges to start exporting or to become successful exporters. Despite this fact, micro and small firms showed an export composition relatively less dependent on commodities and more dependent on higher technology-intensive products, therefore with important policy implications in favor of supporting their international activity.Keywords: exports; Brazil; “reprimarization”; firm size; technological intensity.JEL Classification: F14; L25; O54.
Important changes in the economic system, both in productive and financial dimensions, have been observed since the 1970s, pointing to a growing capital mobility and a stronger presence of finance ...within the logic of non-financial corporations. This article aims to analyze this increasing role of finance in the dynamics of automobile companies. Data from annual financial statements of selected carmakers (Daimler, Fiat, Ford, General Motors, Honda, Hyundai, Toyota and Volkswagen) between 2000 and 2009 are considered, in order to verify the occurrence of a “financialization” movement in this industry. From the analysis, a clear movement towards a more “financialized” pattern of the carmakers' structure could be observed, although there were notable differences among groups according to corporate dependence upon activities from the financial segment and the degree of exposure of their financial structures.
Resenha sobre o livro "Sistema financeiro e política econômica em uma era de instabilidade: tendências mundiais e perspectivas para a economia brasileira".
Este artigo busca discutir a problemática do baixo crescimento brasileiro à luz das contribuições do professor Luiz Carlos Bresser-Pereira. Essa preocupação sobre trajetórias sustentadas de ...crescimento e a armadilha da renda média tem sido fonte de importantes e originais reflexões do autor para o debate econômico, ampliando o alcance das ideias heterodoxas e desenvolvimentistas nos cenários doméstico e internacional. As reflexões, que combinam aspectos teóricos e normativos, estão assentadas, em grandemedida, na coordenação entre fomento à indústria e políticas macroeconômicas para promoção do crescimento.
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