NEW-DEVELOPMENTAL THEORY (NDT)

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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)

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

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