cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.6084/m9.figshare.7102316
title: A formal assessment of new-developmentalist theory and policy*

description: ABSTRACT We develop a formal framework that endogeneizes the productive structure of a small open peripheral economy as the outcome of a problem of technical choices. We subsequently examine the main theoretical theses and policy prescriptions of the New-Developmentalist approach to economic growth. We argue that: a) not only does the pattern of specialization depend on technical conditions, but also on income distribution; b) in an economy without rents, the level of the money wage-nominal exchange rate ratio is univocally determined once the rate of profits is known, and shows an inverse relationship with it; c) if differential rents are considered, the level of the rate of profits can be set independently of the money wage-exchange rate ratio; d) the level of the exchange rate that ensures normal profitability of the primary sector need not coincide with the current-account equilibrium rate; e) the effective exchange rate need not gravitate around any of these two former levels, which must be rather seen as minimum thresholds of the effective rate; f) the unpleasant distributive consequences of exchange-rate depreciation can be partially avoided by means of export duties that do not raise primary-commodities production costs.
DOI: 10.6084/m9.figshare.7102316.v1
title: A formal assessment of new-developmentalist theory and policy*

description: ABSTRACT We develop a formal framework that endogeneizes the productive structure of a small open peripheral economy as the outcome of a problem of technical choices. We subsequently examine the main theoretical theses and policy prescriptions of the New-Developmentalist approach to economic growth. We argue that: a) not only does the pattern of specialization depend on technical conditions, but also on income distribution; b) in an economy without rents, the level of the money wage-nominal exchange rate ratio is univocally determined once the rate of profits is known, and shows an inverse relationship with it; c) if differential rents are considered, the level of the rate of profits can be set independently of the money wage-exchange rate ratio; d) the level of the exchange rate that ensures normal profitability of the primary sector need not coincide with the current-account equilibrium rate; e) the effective exchange rate need not gravitate around any of these two former levels, which must be rather seen as minimum thresholds of the effective rate; f) the unpleasant distributive consequences of exchange-rate depreciation can be partially avoided by means of export duties that do not raise primary-commodities production costs.
DOI: 10.6084/m9.figshare.7102169
title: Is it the end of North-American hegemony? A structuralist perspective on Arrighi’s systemic cycles of accumulation and the theory of hegemonic stability

description: ABSTRACT The paper aims to present some aspects of the debate about the end of the hegemony of the United States, in light of the theories of systemic cycles of accumulation and hegemonic stability. Among the conclusions, the paper shows that the North-American hegemony is diminishing not only because of the emergence of new powerful countries, such as China, but because the international system, composed by new powerful actors such as multinational corporations, global cities, religious organizations and transnational terrorist groups, is diminishing the means by which the US has exercised its global power since the mid twentieth century.
DOI: 10.6084/m9.figshare.7102169.v1
title: Is it the end of North-American hegemony? A structuralist perspective on Arrighi’s systemic cycles of accumulation and the theory of hegemonic stability

description: ABSTRACT The paper aims to present some aspects of the debate about the end of the hegemony of the United States, in light of the theories of systemic cycles of accumulation and hegemonic stability. Among the conclusions, the paper shows that the North-American hegemony is diminishing not only because of the emergence of new powerful countries, such as China, but because the international system, composed by new powerful actors such as multinational corporations, global cities, religious organizations and transnational terrorist groups, is diminishing the means by which the US has exercised its global power since the mid twentieth century.
DOI: 10.6084/m9.figshare.7102493
title: U.S. banks profitability after the 2007/2008 crisis

description: ABSTRACT This paper aims to evaluate the profitability of the major North-american banks after the crisis of 2007-2008, as well as to seek preliminary explanations to the results found. To do so, it assesses the historical data from 1932 until 2015. The results show that the share of total profits in the North-american economy captured by the financial sector has reduced compared to the peak of the last decade but is still at a higher level than the post-war baseline. The evidence points to the decrease of leverage by regulatory pressure as the main cause of the reduction.
DOI: 10.6084/m9.figshare.7102493.v1
title: U.S. banks profitability after the 2007/2008 crisis

description: ABSTRACT This paper aims to evaluate the profitability of the major North-american banks after the crisis of 2007-2008, as well as to seek preliminary explanations to the results found. To do so, it assesses the historical data from 1932 until 2015. The results show that the share of total profits in the North-american economy captured by the financial sector has reduced compared to the peak of the last decade but is still at a higher level than the post-war baseline. The evidence points to the decrease of leverage by regulatory pressure as the main cause of the reduction.
DOI: 10.6084/m9.figshare.7100990
title: Revisiting the inercialist debate of Brazilian inflation

description: ABSTRACT The aim of this paper was to investigate the inertial inflation’s theory represented by the versions of economists from PUC-RJ and FGV-SP, emphasizing the theoretical elements present in each and how it materialized in the stabilization proposals for the Brazilian economy. Although there is a common background, the theories are substantially different. The conclusions suggested that the inercialist theories can’t be considered a uniform theoretical framework, especially with respect to break with orthodoxy and monetary conception, distributive conflict and stabilization’s plan and the necessity of neutrality distributive.
DOI: 10.6084/m9.figshare.7100990.v1
title: Revisiting the inercialist debate of Brazilian inflation

description: ABSTRACT The aim of this paper was to investigate the inertial inflation’s theory represented by the versions of economists from PUC-RJ and FGV-SP, emphasizing the theoretical elements present in each and how it materialized in the stabilization proposals for the Brazilian economy. Although there is a common background, the theories are substantially different. The conclusions suggested that the inercialist theories can’t be considered a uniform theoretical framework, especially with respect to break with orthodoxy and monetary conception, distributive conflict and stabilization’s plan and the necessity of neutrality distributive.
DOI: 10.6084/m9.figshare.7101434
title: Composition of net interest payments of the Brazilian Government: 2002-2017

description: ABSTRACT This paper presents a methodology to decompose the net interest payments of the Brazilian government in five items: real-interest payments, inflation adjustment, exchange-rate swaps, financial cost of the government’s portfolio and second-order effects. The paper also presents an alternative methodology in which seigniorage is added to the initial list. The Brazilian data show important changes in the composition of the net interest paid in the last 15 years, with a reduction in real-interest payments in 2009-15, and an increase since then. The data also show that the financial cost of the government’s portfolio grew substantially since 2006, due to the accumulation of international reserves by the Central Bank and the government’s loans to its national development bank (BNDES).
DOI: 10.6084/m9.figshare.7101434.v1
title: Composition of net interest payments of the Brazilian Government: 2002-2017

description: ABSTRACT This paper presents a methodology to decompose the net interest payments of the Brazilian government in five items: real-interest payments, inflation adjustment, exchange-rate swaps, financial cost of the government’s portfolio and second-order effects. The paper also presents an alternative methodology in which seigniorage is added to the initial list. The Brazilian data show important changes in the composition of the net interest paid in the last 15 years, with a reduction in real-interest payments in 2009-15, and an increase since then. The data also show that the financial cost of the government’s portfolio grew substantially since 2006, due to the accumulation of international reserves by the Central Bank and the government’s loans to its national development bank (BNDES).
DOI: 10.6084/m9.figshare.7367729
title: Crossing boundaries: an assessment to the influence of post-Keynesianism on developmental macroeconomics

description: ABSTRACT Developmental macroeconomics, the economic theory that grounds new developmentalism, is a heterodox approach whose establishment was deeply influenced by dissonant schools of thought. Among these, post-Keynesianism occupies a special place. This essay aims at identifying the aspects of developmental macroeconomics in which this post-Keynesian influence is more notorious. To serve this purpose, we compare the economic diagnoses, social objectives and policy prescriptions defended by the partisans of these two schools of economic thought. Our conclusion is that despite the significant influence of post-Keynesianism in the formation of the new developmentalist strategy, there are several aspects of this strategy that must be understood as an original contribution of the Brazilian developmental school.
DOI: 10.6084/m9.figshare.7367729.v1
title: Crossing boundaries: an assessment to the influence of post-Keynesianism on developmental macroeconomics

description: ABSTRACT Developmental macroeconomics, the economic theory that grounds new developmentalism, is a heterodox approach whose establishment was deeply influenced by dissonant schools of thought. Among these, post-Keynesianism occupies a special place. This essay aims at identifying the aspects of developmental macroeconomics in which this post-Keynesian influence is more notorious. To serve this purpose, we compare the economic diagnoses, social objectives and policy prescriptions defended by the partisans of these two schools of economic thought. Our conclusion is that despite the significant influence of post-Keynesianism in the formation of the new developmentalist strategy, there are several aspects of this strategy that must be understood as an original contribution of the Brazilian developmental school.
DOI: 10.6084/m9.figshare.7367543
title: Does wage reflect labor productivity? A comparison between Brazil and the United States

description: ABSTRACT The study compares the relationship between wages and labor productivity for different categories of workers in Brazil and in the U.S. Analyses highlight to what extent the equilibrium between wages and productivity is related to the degree of economic development. Wages in the U.S. has shown to be more attached to labor productivity, while Brazil has experienced several economic cycles were average earnings grew initially much faster than labor productivity, suddenly falling down in the subsequent years. Analyses also stress how wage differentials, in fact, match productivity differentials for certain occupational groups, while for others they do not.
DOI: 10.6084/m9.figshare.7367543.v1
title: Does wage reflect labor productivity? A comparison between Brazil and the United States

description: ABSTRACT The study compares the relationship between wages and labor productivity for different categories of workers in Brazil and in the U.S. Analyses highlight to what extent the equilibrium between wages and productivity is related to the degree of economic development. Wages in the U.S. has shown to be more attached to labor productivity, while Brazil has experienced several economic cycles were average earnings grew initially much faster than labor productivity, suddenly falling down in the subsequent years. Analyses also stress how wage differentials, in fact, match productivity differentials for certain occupational groups, while for others they do not.
DOI: 10.6084/m9.figshare.7367561
title: Dynamics of the Brazilian industrial inflation: a sectoral approach (1999-2014)

description: ABSTRACT This paper investigates the dynamics of the Brazilian industrial inflation during 1999-2014. Based on the post-Keynesian theory on price formation and distributive conflict, the paper discusses the importance of sectoral differences for the analysis of Brazilian inflation in the 2000s. These differences are important since they can lead to heterogeneous reactions in the face of different inflationary pressures. Micro and macroeconomic approaches are considered in order to contribute to the diagnosis of Brazilian industrial inflation. An econometric exercise with panel data is conducted to estimate the effects of the impact of changes in costs, wages, demand and lagged prices on changes in final prices. We find that, considering sectoral heterogeneity, cost shocks are the main explanatory variable for the inflation dynamics.
DOI: 10.6084/m9.figshare.7367561.v1
title: Dynamics of the Brazilian industrial inflation: a sectoral approach (1999-2014)

description: ABSTRACT This paper investigates the dynamics of the Brazilian industrial inflation during 1999-2014. Based on the post-Keynesian theory on price formation and distributive conflict, the paper discusses the importance of sectoral differences for the analysis of Brazilian inflation in the 2000s. These differences are important since they can lead to heterogeneous reactions in the face of different inflationary pressures. Micro and macroeconomic approaches are considered in order to contribute to the diagnosis of Brazilian industrial inflation. An econometric exercise with panel data is conducted to estimate the effects of the impact of changes in costs, wages, demand and lagged prices on changes in final prices. We find that, considering sectoral heterogeneity, cost shocks are the main explanatory variable for the inflation dynamics.
DOI: 10.6084/m9.figshare.7368035
title: Ideology versus sociology in the Brazilian state politics

description: ABSTRACT The article proposes an exploration of possible determinants of the variation of health and educational spending in Brazilian states between 2002 and 2013, like the degree of economic development of the different states, as defended by the classical hypothesis of the political sociology, or configurations of the political framework, as the ideology of state governments and their alignment with the federal government, as considered by the literature of political science. The results support the validity of the central hypotheses of both literatures, which should stimulate the analysts to search for a unified theory of governmental behavior in the social area in the Brazilian federative context.
DOI: 10.6084/m9.figshare.7368035.v1
title: Ideology versus sociology in the Brazilian state politics

description: ABSTRACT The article proposes an exploration of possible determinants of the variation of health and educational spending in Brazilian states between 2002 and 2013, like the degree of economic development of the different states, as defended by the classical hypothesis of the political sociology, or configurations of the political framework, as the ideology of state governments and their alignment with the federal government, as considered by the literature of political science. The results support the validity of the central hypotheses of both literatures, which should stimulate the analysts to search for a unified theory of governmental behavior in the social area in the Brazilian federative context.
DOI: 10.6084/m9.figshare.7368212
title: Global warming: preventing irreversibility

description: ABSTRACT The United Nations Framework Convention on Climate Change met again in Bonn for the COP23 in the fall with Fiji as host, the focus should have been upon the GOAL II in the COP21 Treaty: decarbonisation with 30-40 per cent of 2005 levels until 2030. Several countries now meet the GOAL I of halting the rise in CO2 emissions. And the rest should be asked and helped to do so. But the GOAL II is a very big challenge. It can only be fulfilled with massive investments in solar panel parks.
DOI: 10.6084/m9.figshare.7368212.v1
title: Global warming: preventing irreversibility

description: ABSTRACT The United Nations Framework Convention on Climate Change met again in Bonn for the COP23 in the fall with Fiji as host, the focus should have been upon the GOAL II in the COP21 Treaty: decarbonisation with 30-40 per cent of 2005 levels until 2030. Several countries now meet the GOAL I of halting the rise in CO2 emissions. And the rest should be asked and helped to do so. But the GOAL II is a very big challenge. It can only be fulfilled with massive investments in solar panel parks.
DOI: 10.6084/m9.figshare.7368164
title: Social capital and poverty in Brazil

description: ABSTRACT The article analyzes the impact of social capital on income and poverty reduction in Brazil. Through the main components technique and based on the World Values Survey, a social capital index was constructed considering three categories of indicators: participation in organizations/associations; density of the partner and trust in people. It was concluded that in addition to social capital contributing positively with income, its impact is greater than the impacts caused, for example, by the fact that the individual is employed, married or white. In addition, the lower the income scale, the greater the impact of social capital on income generation and consequently on poverty reduction.
DOI: 10.6084/m9.figshare.7368107
title: Who supported the “Plano Collor”?

description: ABSTRACT In the book Economia Brasileira Contemporânea (Brazilian Contemporary Economy) Lavinia Barros de Castro states that the Collor Plan “received criticism from all sides”, the “the monetary assets blocked was considered an unacceptable state intervention” and that the freezing of prices, the fiscal adjustment and the recessive character of the Plan were also questioned. We argue that these claims are misleading. Analyzing articles, columns and interviews published at that time, we argue that the economic plan received, during its first weeks, a wide support from businesspeople, politicians, economists and even the general population.
DOI: 10.6084/m9.figshare.7368107.v1
title: Who supported the “Plano Collor”?

description: ABSTRACT In the book Economia Brasileira Contemporânea (Brazilian Contemporary Economy) Lavinia Barros de Castro states that the Collor Plan “received criticism from all sides”, the “the monetary assets blocked was considered an unacceptable state intervention” and that the freezing of prices, the fiscal adjustment and the recessive character of the Plan were also questioned. We argue that these claims are misleading. Analyzing articles, columns and interviews published at that time, we argue that the economic plan received, during its first weeks, a wide support from businesspeople, politicians, economists and even the general population.
DOI: 10.6084/m9.figshare.7367774
title: Education and development projects in Brazil, 1932-2004: a critique

description: ABSTRACT The Second National Education Regulatory Framework (2nd LDB), enacted in 1971, changed the grade configuration of schooling levels in Brazil. This change made it challenging to construct a valid and reliable education spending data profile for 20th century Brazil. Previous work on the economic history of education in Brazil used the data provided according to the thesis of Maduro (2007). Wjuniski (2013) used that database and ran structural break tests and concluded that the Brazilian government underinvested in the expansion of secondary education. However, Wjuniski did not consider problems concerning: (i) data reliability and (ii) the effects of the 2nd LDB on education expenditure data. This paper shows that data on education spending in Brazil does not allow us to assert that there was an underinvestment in secondary education from 1971 onwards.
DOI: 10.6084/m9.figshare.7367774.v1
title: Education and development projects in Brazil, 1932-2004: a critique

description: ABSTRACT The Second National Education Regulatory Framework (2nd LDB), enacted in 1971, changed the grade configuration of schooling levels in Brazil. This change made it challenging to construct a valid and reliable education spending data profile for 20th century Brazil. Previous work on the economic history of education in Brazil used the data provided according to the thesis of Maduro (2007). Wjuniski (2013) used that database and ran structural break tests and concluded that the Brazilian government underinvested in the expansion of secondary education. However, Wjuniski did not consider problems concerning: (i) data reliability and (ii) the effects of the 2nd LDB on education expenditure data. This paper shows that data on education spending in Brazil does not allow us to assert that there was an underinvestment in secondary education from 1971 onwards.
DOI: 10.6084/m9.figshare.7678286
title: An analysis of Brazilian Golden rule

description: ABSTRACT Fiscal rules specify the way fiscal policy will achieve their goals. This paper explains the operation of Golden rule in Brazil and evaluates whether the main goals have been achieved looking for its attributes and for the international experience.
DOI: 10.6084/m9.figshare.7678286.v1
title: An analysis of Brazilian Golden rule

description: ABSTRACT Fiscal rules specify the way fiscal policy will achieve their goals. This paper explains the operation of Golden rule in Brazil and evaluates whether the main goals have been achieved looking for its attributes and for the international experience.
DOI: 10.6084/m9.figshare.7677338
title: Reviewing perspectives on third-party impacts of mega-regional trade agreements: implications for Brazil

description: ABSTRACT The present review article examines the potential impact of mega-regional trade agreements on Brazil as a third-party. The literature initially reviewed identifies the “deep regulation” proposed in mega-regional agreements as an expression of structural changes within the global trading system, which in spite of the current stagnation of these negotiations highlights the relevance of scrutinizing their potential implications for outsiders. The article subsequently examines projections made of the short- and intermediate term economic impacts of this type of trade agreement on Brazil as a third-party, and here upon engages with perspectives treating their long-term structural implications.
DOI: 10.6084/m9.figshare.7677338.v1
title: Reviewing perspectives on third-party impacts of mega-regional trade agreements: implications for Brazil

description: ABSTRACT The present review article examines the potential impact of mega-regional trade agreements on Brazil as a third-party. The literature initially reviewed identifies the “deep regulation” proposed in mega-regional agreements as an expression of structural changes within the global trading system, which in spite of the current stagnation of these negotiations highlights the relevance of scrutinizing their potential implications for outsiders. The article subsequently examines projections made of the short- and intermediate term economic impacts of this type of trade agreement on Brazil as a third-party, and here upon engages with perspectives treating their long-term structural implications.