SciELO - Scientific Electronic Library Online

 
vol.38 número1Reflexões sobre o velho e o novo desenvolvimentismoDeterminação da taxa de câmbio e as falhas da teoria monetária convencional índice de autoresíndice de assuntospesquisa de artigos
Home Pagelista alfabética de periódicos  

Serviços Personalizados

Journal

Artigo

Indicadores

Links relacionados

Compartilhar


Brazilian Journal of Political Economy

versão impressa ISSN 0101-3157versão On-line ISSN 1809-4538

Resumo

RESENDE, MARCO FLÁVIO DA CUNHA  e  TERRA, FÁBIO HENRIQUE BITTES. Developmental macroeconomics: a post-keynesian assessment. Brazil. J. Polit. Econ. [online]. 2018, vol.38, n.1, pp.76-98. ISSN 0101-3157.  http://dx.doi.org/10.1590/0101-31572018v38n01a05.

Authors from distinct schools have studied the relationship between the exchange rate, investment and growth. This relationship is key for the named Developmental Macroeconomics, whose leaders have just recently started to compound a systematic model evolving all the ideas they had worked out since long ago and after several papers published in Brazilian and foreign Journals. The aim of the paper is to critically assess the Developmental Macroeconomics (DM) model. DM argues that the exchange rate in the lower and medium developed economies (LME) tends to be chronically and cyclically overvalued begetting a barrier to investment and growth in the manufacturing industry, which is the best to provoke the productive enhancement of any economy, preventing the convergence of per capita income between LME and developed countries. We conclude that DM contributes to the literature in many points. Nonetheless, DM model is misleading in some points, showing some mistakes and contradictions. It yet needs fulfilling several branches to construct a full model to explain why some LME do not reach sustainable growth and do not converge their per capita incomes to that of developed economies.

Palavras-chave : Exchange rate; investment; economic growth.

        · resumo em Português     · texto em Português     · Português ( pdf )