ND - GROWTH AND THE EXCHANGE RATE

2024. Bacha quer abrir mais uma porta já escancarada quando afirma que a indústria continua gostosamente protegida. Com Tiago Porto. (Valor)

2023. Sob Lula e Haddad, a confiança no Brasil está sendo restabelecida, a economia está normalizando, e o câmbio está voltando a se apreciar (Artigo Jornal GGN)

2021. The tittle says everything. This essay may also be an introduction to economic development and Latin America. Texto para Discussão EESP/FGV 554.

2020. Note defiining the competitive exchange rate or industrial equilibrium - the exchange that makes competitive the companies or investment projects utilizing the best technology. A critique to a paper by José Luis Oreiro, Paulo Gala and Luciano D'Agostini. (Available in this website only).

2011. Troca de mensagens com Roberto Giannetti.

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

2015. With Fernando Rugitsky. Classical Developmentalism (Prebisch et al.) was skeptical in relation to exchange rate policy, preferring industrial policy on the form of high import taxes, while for New Developmentalism the neutralization of the tendency to the cyclical and chronic overvaluation of the exchange rate is the key policy to be adopted. (Paper Cambridge Journal of Economics)

2003. The patterns of economic development and the political pacts in Brazil from Vargas (1930) to Lula (2003). 5th revised edition almost doubling the size of the book. (Book: Editora 34). Nas livrarias.

2014. With Nelson Marconi and José Luís Oreiro. Developmental Macroeconomics is a book on development macroeconomics associated with New Developmentalism. In its core are the exchange rate and the current account, instead of the budget deficit and the interest rate. (Book: Routledge) Nas livrarias e em Kindle

2014. With José Luis Oreiro and Nelson Marconi. A synthesis of structuralist development macroeconomics and the critique of the "foreign constraint" thesis. (Paper in edited book)

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

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

2012. The euro was a major mistake. Sovereign countries changed their national moneys for a "foreign currency", which they cannot either issue or depreciate. (Slide presentation)

2012. A sum up of a structuralist development macroeconomics and of the ensuing national development strategy: new developmentalism. A theoretical step ahead in relation to Globalization and Competition. (Paper: Brazilian Journal of Political Economy)

2012. A class at LAPORDE/FGV summarizing structuralist development macroeconomics and of new developmentalism. (Class: slide presentation)

2011. Angel Asensio sur le livre Mondialisation et Compétition.

2010. Troca de mensagens sobre a determinação da taxa de câmbio com José Luis Oreiro, Nelson Marconi, Eliane de Araújo e Marcos Rocha.

2010. The tendency to the cyclical overevaluation of the exchange rate in developing countries is easily seen in Brazil. (Paper in edited book)

2010. My main works relating the exchange rate with economic growth. (A bibliography, only in this website).

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).In the bookstores and in kindle