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This paper aims to revisit and systematize the concepts of Economic Development and Developmentalism. The hypothesis raised by the research is that due to the historical-social procedurality of Economic Sciences, the terms Economic Development and Developmentalism can be categorized differently by epistemological and didactic option nowadays. The article opted to perform a bibliographic study. The methodological procedures for selecting the references were bibliographic research focused on the authors with historical, concrete and inductive analysis of the economy and the phenomenon of economic development. The results obtained are that the terms Economic Development and Developmentalism can be categorized differently, one as a concept used by several schools of economic thought; other as a School of Economic Thought, which has four theoretical currents (Classical Developmentalism, Social Developmentalism, New Developmentalism, Socialist Market Developmentalism). [ABSTRACT FROM AUTHOR]

This paper relates the differences and the similarities between the classic developmentalism and the New Developmentalism. It discusses the next steps for the new theory to persevere in the current Brazilian context. To this end, a diagnosis of what we call "Accidental Developmentalism", initiated at the end of the 19th century in Brazil, was also made in the first part of the paper, which was sown as a basis for the classic developmentalism. Effectively put in place between 1930 and 1980, developmentalism was later adopted again during the failed economic policy of Dilma Rousseff administration. Finally, we discuss the challenges for the New Developmentalism having the critical 2018 elections as background. [ABSTRACT FROM AUTHOR]

Taking into account longevity of tax incentives in the automobile sector, this paper intends to pursue two consecutive objectives. Firstly, the paper describes the incentives implemented in the last decades were designed to promote the sector's competitiveness. Secondly, this article presents a qualitative assessment of the role developed by the State in this segment. Based on literature on political economy and regulation, the claim of this research is that tax policies adopted in favor of automobile sector have favored more a "husbandry" State, rather than a "midwifery" one. In other words, the public policies established were typically oriented to protect a previous defined segment, instead of stimulating new competences and capabilities. [ABSTRACT FROM AUTHOR]

This paper examines the role of new developmentalist agenda for actions in the economic area of Dilma Rousseff's government. The paper aims to contribute to the research area that examines the relevance of schools of economic thought to economic policy in Brazil. The central conclusion is that - despite the increase in the state intervention in the economy - we cannot argue that the new developmentalist agenda played an important role in Dilma Rousseff's government. The absence of a "national development strategy" and essential elements of the new developmentalist macroeconomic policy support this conclusion. [ABSTRACT FROM AUTHOR]

This paper examines the evolution of industrial policies, technological strategies and trade specialization in global values chains (GVC) in manufacturing production led by transnational corporations and by industrial policies. It argues that insertion in GVC does not constitute an easier technological shortcut alternative to national system of innovation and for national development strategy that historically have been the main levers for technological catch-up. [ABSTRACT FROM AUTHOR]

This article discusses the importance of the exchange rate in the economic development process. After a brief discussion about this issue, the paper presents a historical vision of the exchange policy adopted in Brazil from 1995 until now. This policy took part in the stabilization macroeconomic program implemented in the country since then. Thus, we are discussing the main effects of the economic exchange policy over the industrial sector, highlighting the fact that there are some empirical evidences about the deindustrialization process in Brazil nowadays. What could explain it is the behavior of the share of technological content of the products that compose the international trade of the country. Recently one can observe that there is an expressive growth in the share of the nonindustrial products, which could characterize the deindustrialization process in the country. [ABSTRACT FROM AUTHOR]

Theories of international trade: a debate on the relationship between economic growth and foreign market insertion. The paper analyzes the importance accorded to the high technology industry sector in the process of economic growth, in its relation to international trade. Considering at first liberal arguments that disregard productive and commercial specialization as a cause of unequal economic development, the paper discusses then some institutionalist and evolutionist arguments which, since List, stress that high technology specialization matters for the rate of increase of productivity and for the surmount for foreign exchange restrictions to growth. [ABSTRACT FROM AUTHOR]

Is there compatibility between Nelson's 'Social Technology' and Hodgson's 'Veblenian Causality'? This paper aims to discuss the role and the relationship among the concept of institutions and the economic growth process, through the Neo- Schumpeterian and Institutionalist approaches. Both of them constitute a new research agenda differentiated and opposite to the mainstream. In the first part of the paper we discuss the research agenda proposed by Richard Nelson who emphasizes the necessity to unpack the institution concept throughout the social technology notion. In the second part we discuss Geoffrey Hodgson's contribution that suggests inserting this process in an evolutionary perspective, which has in habits, norms and social behavior his major characteristic. [ABSTRACT FROM AUTHOR]

Finance-led growth regime in Brazil. This paper analyzes the Brazilian growth pattern during the post-liberalization period, emphasizing the structural links between finance and productive capital accumulation. The results indicate a finance-led growth regime in the period 2004-2008, under a very specific financialization process. The first part is a survey of the international literature, which defines the financialization concept and its relevance for understanding Brazilian economic problems. The next part provides a historical overview on the structural changes that made possible the development of financial-led regimes. The paper also applies an empirical analysis of some selected Brazilian macroeconomic indicators. [ABSTRACT FROM AUTHOR]

Real exchange rate and economic growth: a comparison between emerging and developed economies. This paper presents a discussion on the relationship between economic growth and real exchange rate. The article presents the results generated by a dynamic panel that tested the relationship of economic growth with the level of the exchange rate, exchange rate volatility and the choice of exchange rate regime from 26 countries, 13 emerging and 13 developed. The results suggest that the level of the exchange rate and volatility are relevant for growth. Finally, the paper stresses that there are important differences when comparing developed and emerging economies. [ABSTRACT FROM AUTHOR]

The paper discusses two theoretical approaches to the role of public banks (PBs): the Shaw-McKinnon model and an alternative Keynesian view. In the former, the PBs still in operation in less developing countries would be near to become fully unnecessary, in view of the advance of their financial development in the last twenty years. In the Keynesian approach this hypothesis is unlikely. Financial markets are viewed as structurally inefficient and "incomplete" for the requirements of the process of economic development. Nevertheless, it is undeniable that economic and financial development will require a definition of new strategies for PBs. The paper is concluded with a brief discussion of this issue. [ABSTRACT FROM AUTHOR]

"Stability and Full Employment": the origins of Kaldor's framework for economic fluctuation and growth analysis. Nicholas Kaldor is known as an author who often changed his mind throughout his career. This is the case of his analyses of the process of economic growth, in which he proposed various models leading to quite different and, occasionally, conflicting conclusions. Specifically, Kaldor changed his position concerning the stability of the full employment situation. This paper shows that, in spite of those changes, Kaldor in fact used different versions of the same basic analytical framework and that this framework has its origin in his paper "Stability and Full Employment" published in the Economic Journal in December 1938. [ABSTRACT FROM AUTHOR]

Public debt, government current account saving and primary surplus: analysis of sustainability. On this paper, we propose a change in the primary surplus' target by the government current account saving. That concept excludes public investment from primary surplus. However, of that change has raised a question about if government current account saving represents a sustainable fiscal policy. Thus, this paper analyses if the change in the primary surplus' target by the government current account saving implies a meaning modification on the debt-to-GDP ratio path. The empirical analysis, which is based on Brazilian monthly data for the period 1999-2005, suggests that the change in fiscal target does not mean a lack of sustainability. [ABSTRACT FROM AUTHOR]

Industrial policy and credible commitments: a proposal of analysis and of governmental action. This paper analyses the question of the counterparts that governments should claim from firms and/or economic sectors supported by vertical industrial policy. This is a discussion that still have to advance because everything indicate that the set of current counterparts (goals of costs, productivity, exportation, etc.) still may be increased and improved, what will facilitate the assessment of industrial policy execution by society and the verification of its efficacy in order to yielding more possibilities of economic growth for a country or region. To reinforce the commitment credibility of the agents supported by industrial policy, this paper proposes to maintain the counterparts meant before and that such agents will be stimulated to commit specific assets in their activities that are supported by govern. It is shown that, without use more public resources than the used currently, this new counterpart may reinforce substantially the incentives that the firms supported by vertical industrial policy have it to execute the traditional counterparts assumed by them, and with it guarantee the best possible use of public resources. [ABSTRACT FROM AUTHOR]

This paper proposes an analysis of the texts Plano Trienal and PAEG, documents of economic planning in 1960s Brazil. We aim to check, on one hand, theoretical and conceptual aspects regarding its retrospective diagnosis, and, on the other, socioeconomic conditions each text projects for the future as condition for de achievement of their intended objectives. With such an analysis we do not aim to verify if the plans are suitable to the Brazilian reality, but to understand how internal problems of texts and its relations may be elucidatory no only to the History of Ideas, but also for a broad consideration of Economic, Social and Institutional History in Brazil. [ABSTRACT FROM AUTHOR]

The reduction of income inequality and the participation of the top 1 % in the Brasil, 2000-2010. According to OECD, the recent process of deterioration of the income distribution chain in developing and developed countries has been marked by increased participation of 1% of households with higher income. In the past decade, Brazil has escaped the general trend of deterioration of the income distribution. This paper shows that the reduction of economic inequality was accompanying the reluctance of the participation of top 1%, arguing that the reproduction of the movement more generally requires that this participation has been reduced in the current decade, to enable sustained growth and development with social justice. [ABSTRACT FROM AUTHOR]

Formerly the concept of economic development involved transforming the productive structures in order to employ the population in higher productivity activities, so that welfare improved. Development implied that economic systems followed development paths (not always in equilibrium) in order to reach more desirable welfare results: Equilibrium was not the main target. More recently, economic strategies emphasize reaching growth within equilibrium paths, thus, preserving economic structures. The latter vision yields incompatible results with the former. This paper revises some issues concerning structural change versus equilibrium targets as a means to reach development. [ABSTRACT FROM AUTHOR]

This paper is a short survey of the work of Ignacy Sachs - one of the pioneers of structuralist development economics and an outstanding economist dedicated to environmental economics. Sachs is PoHsh and a disciple of Michael Kalecki, but he is aiso a Brazilian and a French, given his strong ties with these rwo countries. He knows the importance of markets in the coordination of the economy, but, as a de-velopmental economist, he atttibutes a key role to economic planning, Only through the dehberate action of the state it will be possible to achieve economic growth, reduction of inequalities, and protection of the environmsnts - only through de-liberate action way men and women will be able to conduct the Spaceship Earth to economic, social and environmental development and assure a decent work to ali. [ABSTRACT FROM AUTHOR]

Exchange rate, exports and growth: an investigation on the hypothesis of Dutch disease in Brazil. This paper investigates the hypothesis of Dutch disease in Brazil by the existence of a negative relationship between commodity exports and the real exchange rate, and the effects of export specialization in commodities on the Brazilian economic growth from 1999 to 2010 based on VAR model. The evidences suggested an expressive importance of commodities exports in explaining the real exchange rate changes. Moreover, commodities exports shocks were relevant to explain Brazilian economic growth rate changes, which supports the "curse" of natural resources literature. [ABSTRACT FROM AUTHOR]

Real exchange rate and external constraint. This paper investigates a topic of the agenda about growth models, emphasizing the elaboration of an external constrained model with endogenous elasticity, with an emphasis on real exchange rate level as main tool for the economic development. The model is anchored in Kaldor, Thirlwall and Barbosa Filho's models and it will demonstrate that external constraint changes in the course of time. [ABSTRACT FROM AUTHOR]

The Institutional pillars of the foreign exchange policy and industrialization in Brazil in the 1930s. The 1930s constitute one milestone in the Brazilian economic development, as the accelerated industrialization process has started and became the dominant domestic policy. This paper reviews this period focusing on the institutional changes restructuring exchange transactions, to curb financial flows and balance external payments [ABSTRACT FROM AUTHOR]

Implicit reciprocity and growth in the international economy: a structuralist perspective. This paper discusses some of the structuralist ideas about international coordination and growth in an international system formed by countries whose productive structures and technological capabilities are strongly asymmetric. These ideas are formalized taking as a point of departure the Keynesian Balance-of-Payments constrained growth model with two countries. To this model is added a function (based on the catching up literature) in which the income elasticity of the demand for exports and imports depends on the technology gap. The model allows for discussing the inter-relations between the fiscal and the industrial and technological policies. It also allows for finding the rate of growth of autonomous expenditure in the periphery which ensures that it will use all the foreign exchange it earns in promoting economic growth (the principle of "automatic reciprocity"). [ABSTRACT FROM AUTHOR]

Brazil (1955-2005): 25 years of catching-up, 25 years of falling behind. The present paper discusses the Brazilian industrial development under a neo-schumpeterian perspective in the period after 1955. The hypothesis is that, in the last 50 years, Brazil spent the first 25 years catching up and, next, the following 25 years falling behind. The 1955-1980 period, by means of international funding, allowed catching up with the paradigm in maturation within the fourth technological revolution. However, in this period, it was determined the main debilitating elements for the country's entrance in the new techno-economical paradigm of the fifth technological revolution which emerged in the middle of the 70s. It is in the strategy to internationalize the economy, granting the mutinational companies the key-sectors of the national economy dynamics during the catching up period, the main element of dependence in the journey that conditions the current performance, responsible for technology subordination and keeps the Brazilian economy with low dynamism. [ABSTRACT FROM AUTHOR]

Financial liberalization, macroeconomic policy and economic growth within the BRIC's countries. The objective of this paper is to analyze the relationship between exchange rate regime, capital account convertibility and economic growth in 1990-2007 period within the emerging countries that constitute what has been called BRIC - Brazil, Russia, India and China. Our hypothesis is that economic performance of these countries is the result, at least partially, of the quality of the macroeconomic policy management adopted in each country, in which exchange rate policy, capital account convertibility and the degree of external vulnerability plays a key role. [ABSTRACT FROM AUTHOR]

Diversification or specialization: an analysis of the process of structural change of the Brazilian industry. Based on findings by Imbs and Wacziarg (2003), whose empirical study has established the existence of a U-shaped pattern in the evolution of industrial specialization relative to per capita income, this paper aimed at determining the path of structural change followed by the Brazilian industry in the last decades and at comparing it with the evidence for other countries. The conclusion is that the stage of diversification of the Brazilian industrial structure has ended at a relatively low level of per capita income. [ABSTRACT FROM AUTHOR]

This paper addresses the concept of sustainable development and, more particularly, its applicability in underdeveloped economies when analyzing reciprocal effects between economic organization and environmental issues. It also addresses the relationships between development and underdevelopment, from an ecological economics' approach, and its theoretical implications regarding the concept of sustainable development. We conclude that the specificities of Latin American economies, when compared to those economies of developed countries, also entail, beyond economical disparities, the existence of strong antagonisms from an environmental standpoint, which are recurrently ignored by most of the interpretations concerning sustainable development. [ABSTRACT FROM AUTHOR]

Growth and industrialization in Brazil. In this paper, based on the writings of Kaldor and his followers, we compare two phases of Brazilian economic growth, one showing fast growth rate and other with lack of growth. Our aim is to analyze the Brazilian economic behavior in the last 40 years, pointing out economic policy intervention, structural change, foreign trade and capital flows as determinants to account for gross product development path performance. Our aim is to shed some light on which is the potential rate of growth of the Brazilian economy nowadays, considering its historical growth path and recent structural changes in the industrial sector. [ABSTRACT FROM AUTHOR]

Economic growth and foreign liquidity in Brazil after 1970. This paper assesses the relationship between the capital account and the Brazilian economic growth according to balance-of-payments constraint approach. The Thirlwall (1979)'s simple rule is extended to take into consideration capital account and several empirical evidence using time series analysis are shown. Conversely to the simple rule when fitted rates of balance-of-payment equilibrium economic growth average bellow the observed ones, fitted rates of growth using the rule extended to international liquidity are consistently greater than the observed ones. It is fair to conclude that, first, the Brazilian economy grows better during abundant international liquidity and, second, the economy sub utilizes such advantage growing far less than it could grow. [ABSTRACT FROM AUTHOR]

China: stability and economic growth. China experienced an extraordinary economic growth since 1978, while keeping inflation low. Which are the main determinants for this performance and to what point has macroeconomic policy been responsible? Obviously, many factors have been important although none of them may be appointed as the sole determinant. The paper also argues whether China would be able to keep this pace of growth or will slow down, like many other Asian countries. It is argued that China will maintain her average rate of growth in the near future. [ABSTRACT FROM AUTHOR]

Educational policies and economic growth: theory and dynamic panel data estimates. In this paper, we develop a theoretical model that considers a non-linear relationship between growth and level of education (human capital). Our econometric estimates demonstrated the causality running from human capital to GDP per capita with U inverted shape. The level of education (human capital) that generates the maximum growth rate lies around 4.5 years. The foremost implication of this result is that States with level of education below this range should have as priority educational policies. [ABSTRACT FROM AUTHOR]

Michal Kalecki, a pioneer of development economics. Kalecki made important contributions to development economics, which rank him among the founding fathers of this area of our discipline. The objective of this paper is to give an account of his contributions, and in particular of his conception of the peculiarities and the way of functioning of the underdeveloped economies, and of the barriers that limits their capacity for high and sustained long run growth. As most socialist economists of his time, he was skeptic about the possibilities of overcoming underdevelopment under capitalism. However, in contradistinction to other pioneers of development economics, Kalecki did not stress the international forces that hamper development, but put the accent rather in the internal institutions and social and political determinants. In particular, the feudal and semi-feudal conditions in agriculture, the reduced market ensuing from income concentration and widespread monopolization of the economy, and the lack of willingness of entrepreneurs to carry out the necessary investments. Accordingly, his economic policy recommendations emphasized also the domestic aspects involved. [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between the impact of Bolsa Família Program in the Brazilian population and the result of the presidential elections of 2006. The database involves municipal information provided by MDS, IBGE and TSE. To control the experiment, the eventual influences of other variables in the determination of this relationship had been studied. All those variables come from specific characteristics of the cities, such as: city with predominant urban or not urban population; size of the city population; among others. The results state that the Bolsa Família was, in fact, a very important factor in the determination of the votes in Lula. It was, in itself, responsible by 45% of the total votes in Lula. [ABSTRACT FROM AUTHOR]

Argentina post-convertibility: a new developmentalism case? This paper analyses the economic recovery in post-Convertibility Argentina. We try to identify if there are evidences to support the suggestion that Argentina could be an example of the so-called "new developmentalism". [ABSTRACT FROM AUTHOR]

Capital account liberalization and economic growth: evidences from data in Latin-American panel. The aim of this paper is to carry out an empirical analysis about the relation between Capital Account Liberalization and Economic Growth having as object of study the experience of 16 countries of Latin America with annual data for the period 1986-2000. The econometrical calculations do not corroborate the hypothesis that the liberalization of Capital Account would stimulate the economic growth. The results suggest an adverse effect of the liberalization of the Capital Account on the real growth gross domestic product per capita of the countries. [ABSTRACT FROM AUTHOR]

An analysis of the national development strategy of Malaysia. This paper aims at studying Malaysia's national development strategy in the last three decades. Firstly, we will give emphasis to the country's economic planning development, its mediumterm and long-term plans, as well as Mahathir's political influence. Secondly, we will try to identify key elements in the Malaysian growth process, such as its exchange rate and current account policies, the participation of the government in the whole process and matters related to domestic savings and foreign direct investment. We will also talk about the 1997 financial crisis. [ABSTRACT FROM AUTHOR]

Pleasant Mathematics. This paper suggests a reconsideration of the principle that public deficits should be financed by public debt. Two main reasons are offered. First, it is admitted that public debt is an economic variable whose time behaviour is better described by a first difference equation instead of an accounting identity. The convergence condition thus obtained requires either a nominal negative interest rate or that government bonds are used to raise tax income, hypotheses not theoretically granted. As a consequence, if primary surplus is not sufficient to match interests' payment, it will be observed an explosive trend in the public debt, the due interests and the money issuing. Therefore, it lacks support to the idea that public debt prevents inflation. Second, it is shown that financing public deficit through money issuing leads to a stable equilibrium money stock. The general conclusion is that, in order to simultaneously promote economic growth and inflation control, money issuing is preferable to public debt. [ABSTRACT FROM AUTHOR]

The finance-investment-savings-funding circuit in open economies. On monetary economies the Finance-Investment-Savings-Funding circuit (F-I-S-F) prevails. Investment precedes savings. This circuit was worked out for a closed economy. This study seeks to demonstrate that the circuit F-I-S-F also prevails for open economies. A second point studied in this paper relates the relationship between budget deficits and savings restriction for investment. Conclusions highlight that the circuit F-I-S-F prevails for open economies and that budget deficits do not cause savings restriction for investment. In some situations budget déficits transfer the effects of investment for national savings formation from domestic economy to the rest of the world. [ABSTRACT FROM AUTHOR]

The State and its reasons: the 2nd PND. This paper intends to contribute to the debate on the reasons why the Geisel administration (1974-78) chose — as it faced an adverse conjuncture — an accelerated growth agenda which was materialized in the 2nd PND (National Development Plan). In order to do so, it resorts to a methodological definition which is based upon an institutionalist approach and favors the interaction between the political and the economic variables. Contradicting the literature that interprets the strong presence of the State and the regional decentralization of the 2nd PND as signs of neopatrimonialism, it is advocated that this category of analysis is inadequate to explain the government's choice, although this aspect is embedded in the Brazilian social-historical formation. The political rationality of the plan must be investigated in the conjuncture itself, marked by the liberalization project, which does not clash with the plan's economic rationality — on the contrary, it is complemented by it. [ABSTRACT FROM AUTHOR]