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The Political Construction of Brazil

2017. An encompassing analysis of Brazil’s society, economy and politics since the Independence. A national-dependent interpretation. Three historical cycles of the relation state-society: State and Territorial Integration Cycle (1822-1929), Nation and Development Cycle (1930-1977) and Democracy and Social Justice Cycle (1977-2010). Crisis since then. (Book: Lynne Rienner Publishers)

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Macroeconomia Desenvolvimentista

2016. With José Luis Oreiro e Nelson Marconi. Our more complete analysis of Developmental Macroeconomics – the central economic theory within New Developmentalism. (book)

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Novo Desenvolvimentismo (textos básicos)

Documentos 1 a 36 de 36



Modelos de estado desarrollista

2019. All industrial revolutions happened in the framework of a developmental state. We can distinguish in history four basic models of developmental state. English version available. (Papers)



Models of developmental state

2019. All industrial revolutions happened in the framework of a developmental state. We can distinguish in history four basic models of developmental state. Spanish version available(Papers)



Why a competitive exchange rate is determinant of economic growth

This note defines the competitive exchange rate and summarizes the new-developmental theory explaining why the exchange rate is determinant of investment and growth.. Written to be published in my website. EAESP / FGV, November 2019.



Principles on New Developmentalism

2019. Fifteen principles that summarized New Developmentalism. A collective document which counted with the collaboration of several economists and political scientists.



Macroeconomia Novo-Desenvolvimentista, 2018

2019. Sumary of New Developmentalism's development macroeconomics (a work in progress) as it standed in the end of 2018. (paper in edited book)



Do desenvolvimentismo clássico e da macroeconomia pós-Keynesian ao novo desenvolvimentismo

2019. Paper



From classical developmentalism and post-Keynesian macroeconomics to new developmentalism

2019. Paper



Desenvolvimento, sofisticação produtiva, valor-trabalho e salários

2019. Economic growth involves increase of real wages. Which are not detemined by the subsistence level of the workers but from their cost of reproduction that increase with the value-added per capita, while the profit rate remains satisfying - enough to lead companies to invest. Paper (Nova Economia)



Nacionalismo econômico e desenvolvimentismo

2018. Developmentalism is the twin brother of economic nationalism, as it is the ideology of development geared toward industrialization that assumes a moderate state intervention in the economy and the defense of national interest in a world in which competition between nations is stronger than cooperation. Paper (Economia e Sociedade)



The two forms of capitalism: developmentalism and economic liberalism

2017. Capitalism and the state are either developmental, or liberal. Developmentalism and economic liberalism are two forms of coordinating capitalism. Capitalism was born developmental anywhere, in England or in the US, in Germany or in Brazil, in Japan or in China. (paper: Brazilian Journal of Political Economy)



Neutralizing the Dutch disease

2018. A retention or tax on the export of commodities will neutralize the Dutch disease and assure to the manufacturing industry equal conditions in the competion with other countries. The tax will not represent a buden to the exporters, because they receive back their money on the form of depreciation of the real.



Economic nationalism and developmentalism

2018. An encompassing paper on economic nationalism, its relation to developmentalism, and why it is a condition of growth in a world where nation-states rather compete than cooperate. (published paper)



Why the 'Rest' doesn't need foreign finance

2016. Against conventional wisdom, countries that don't incur into current account deficits grow faster, because such deficits correspond to an overvalued currency that encourages consumption and discourages investment. (Paper)



Models of developmental state

2016. All industrial revolutions happened in the framework of a developmental state. We can distinguish in history four basic models of developmental state. Portuguese version available.(Texto p/ Discussão)



Reflexões sobre o Novo Desenvolvimentismo e o Desenvolvimentismo Clássico

2016. Classic Developmentalism and New Developmentalism are theoretical frameworks. Don't mix them with really existing developmentalisms, as national-developmentalism and social developmentalism. English version available(Paper, Revista de Economia Política)



Reflecting on New Developmentalism and classical developmentalism

2015. New Developmentalism is a theory that was preceded by Classical Developmentalism. It focus on the equilibrium of five macroeconomic prices, and of the two macro accounts, particularly the current or external account.



The economics and the political economy of new-developmentalism

2017. A summary of new developmentalism - of its economic theory and of its political economy. The best that I have donne. (Paper to be published)



Sovereignty, the exchange rate, collective deceit, and the Euro crisis

2014, with Pedro Rossi. The euro crisis is a internal exchange rate crisis; austerity is a costly and inhuman policy of internal depreciation. (paper, in the Journal of Post Keynesian Economiscs)



The access to demand

2014. In developing countries it is not enough to secure demand for entrepreneurs to invest; additionally, is required access to it, which only a competitive exchange rate can assure. (Paper Keynesian Brazilian Review)



A taxa de câmbio no centro da teoria do desenvolvimento

2012. In this paper I finally defined the relation between the exchange rate and the investment rate (and so, the growth rate). Investment depends on the exchange rate because as the theory says that it tends do become overvalued in the long-term (for several years) within the exchange rate cycle, companies will take this overvalued currency as reference in their investment decision and will refrain from investing (Paper: Estudos Avançados) English version



The exchange rate at the center of development economics

2012. In this paper I finally defined the relation between the exchange rate and the investment rate (and so, the growth rate). Investment depends on the exchange rate because as the theory says that it tends do become overvalued in the long-term (for several years) within the exchange rate cycle, companies will take this overvalued currency as reference in their investment decision and will refrain from investing (Paper: Estudos Avançados) Portuguese version



From old to new developmentalism in Latin America

2011. My more complete paper on new developmentalism. In José Antonio Ocampo and Jaime Ros, eds. Handbook of Latin America Economics, Oxford: Oxford University Press. (Paper). Portuguese version available.



Globalization and Competition

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Cambridge University Press).



Globalización y Competencia

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Siglo XXI).



Mondialisation et compétition

2009. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Éditions La Découverte)



Globalização e Competição

2009. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Elsevier).



Doença holandesa e sua neutralização: uma abordagem ricardiana

2008. A country suffering from the Dutch disease has two "equilibrium" exchange rates: the "current equilibrium" that is inconsistent with economic growth, and the"industrial equilibrium" that will be achieved if the country is able to neutralize the disease. (Paper in edited book) English version published in Brazilian Journal of Political Economy)



Crescimento e desindustrialização (Folha, 10.3.08)

2008. The manufacturing industry is growing while it is prematurely desindustrializing due to moderate but not neutralized Dutch disease. (Article: Folha de S.Paulo).



Macroeconomia da Estagnação: crítica da ortodoxia convencional no Brasil pós-1994

2007. An encompassing analysis of the Brazilian macroeconomic system; a first presentation of the developmental macroeconomics. Why Brazil failed to grow fast after the Real Plan. English version available. (Book: Editora 34) Developing Brazil is an atualized version of this book



Foreign savings, insufficiency of demand, and low growth

2008. With Paulo Gala. An overvalued currency is a central cause of insufficiency of demand. The growth with foreign savings policy appreciates local currencies, increases domestic consumption, and causes domestic saving to be replaced by foreign savings. (Paper Journal of Post Keynesian Economics).



Por que a poupança externa não promove crescimento

2007. With Paulo Gala. A formalization of the critique of the strategy of growth with foreign savings: the consequent exchange rate appreciation increases artificially wages and causes the substitution of domestic with foreign savings. English version available.(Paper: Revista de Economia Política)



O novo desenvolvimentismo e a ortodoxia convencional

2007. Paper comparing three growth strategies: old or national-developmentalism, new developmentalism, and Washingtons conventional orthodoxy - actually a form of neutralizing the catching up of medium income countries. English and Spanish versions available. (Paper: Revista São Paulo em Perspectiva)



The new developmentalism and conventional orthodoxy

2006. Paper comparing three growth strategies old or national-developmentalism, new developmentalism, and Washingtons conventional orthodoxy - actually a form of neutralizing the catching up of medium income countries. An improved version available with the title "Macroeconomics of stagnation and new developmentalism".(Paper Economie Appliquée).



Macroeconomia Pós-Plano Real: As Relações Básicas

2005. The perverse macroeconomic model of the Brazilian economy combining high interest rate and low exchange rate with growth with foreign savings and quasi-stagnation. (In edited book, Novo Desenvolvimentismo)*



Economic growth with foreign savings?

2002. With Yoshiaki Nakano. Developing countries' poor performance in the 1990s is related to the Washington strategy of growth with foreign savings. Portuguese version available.(Paper presented to International Post Keynesian Workshop).



Crescimento econômico com poupança externa?

2003. With Yoshiaki Nakano. Developing countries poor performance in the 1990s is related to the Washington strategy of growth with foreign savings and open capital accounts. English version available.(Paper Revista de Economia Política)*




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