ACADEMIC PAPERS

2008. In developing countries there is the tendency to the overvaluation of the exchange rate. If countries do not neutralize it, they will experiment slow growth, and catching up will not happen. (Chapter 4 of book to be published, Globalization and Competition). Spanish version and Portuguese version available.

2009. A consolidated democracy requires a capable state, a strong nation and an active civil society. The quality of democracy must be improved but it is a mistake to o include in the concept of democracy more than its minimum, procedural, requirements. (Paper)

2008. Economic development as well as nations, the modern state, and the nation-state are outcomes of the Capitalist Revolution - this tectonic structural change formed by three sub-revolutions: the Commercial, the National and the Industrial revolutions. (Discussion paper)

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)

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: Brazilian Journal of Political Economy)

2010. The Brazilian 1995 Public Management Reform continues to advance in Brazil. Here is a short memoir of the first four years. (Paper in edited book).

2005. There is no financial order in the world. The the enormous US current account deficit in the US points out to a hard landing. Portuguese version available.(Texto para Discussão EESP 151)

2008.

2008. With Nelson Marconi. In Brazil the Dutch disease is not as serious as in oil countries, but it is sufficiently serious to cause gradual deindustrialization. Paper in edited book. (Paper in Doença Holandesa e Indústria)

2007. With Paulo Gala In João Sicsú e Carlos Vidotto, orgs. (2008) Economia do Desenvolvimento. Teoria e Políticas Keynesianas. Rio de Janeiro: Campus: 79-96.

2008. First, economic development defined and distinction from economic growth discussed. Second, since development or growth involve wage increase, the paper shows that in reach countries it increased in proportion to productivity betwee te 1850s and 1970s, but since then a global unlimited supply of labor (that domestically characterizes developing countries) is pressin down wages. (Paper to be published comments welcomed)

2008. In globalization, although nation-states are more interdependent, they are also more strategic. A econometric study confirms that. (Paper published in the Brazilian Journal of Political Economy)

2007. With Cleomar Gomes. The paper claimsthat inflation targeting policy was adopted in Brazil before the interest rate trap was faced and solved. This was a mistake because inflation targeting is good to manage monetary policy, not to change the monetary regime as it was in 1999 and still is necessary in Brazil. (Paper in edited book). Portuguese version available.

2009. With Cleomar Gomes. The paper claims that inflation targeting policy was adopted in Brazil before the interest rate trap was faced and solved. This was a mistake because inflation targeting is good to manage monetary policy, not to change the monetary regime as it was in 1999 and is still necessary in Brazil. (Paper in edited book). English version available.

2008. Texto para Discussão com Thiago Ribeiro.

2008. With Eli Diniz. Brazilian industrial entrepreneurs associated with the state bureaucracy were dominant from 1930 to late 1980s. Now, they may be returning to power. At least they are better prepared for that. (Paper to be published)

2007. The Brazilian state bureaucracy was part of the ruling class in association with the industrial bourgeoisie between the 1930s and the 1980s. English version available. (Paper: Revista de Sociologia e Política (Univ.Paraná).

2008. Economic growth is the outcome of a national strategy of development. The characteristics and main tensions involved in these national strategies discussed. Improved English version of a paper previously published in Portuguese.

2008. 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. Portuguese and English versions available. (Paper: Investigación Económica).

2007. Paper comparing three growth strategies: old or national-developmentalism, new developmentalism, and Washington conventional orthodoxy - actually a form of neutralizing the catching up of medium income countries. English, Spanish, and Portuguese versions available. (Paper: Passages de Paris).