Brazilian business cycles and growth from 1850 to 2000

Araújo, Eurilton; Carpena, Luciane; Cunha, Alexandre B.

doi:10.1590/s0101-41612008000300005

Cited by 12 publications

(13 citation statements)

References 13 publications

(10 reference statements)

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“…During the ISI period, there was a process of convergence with the US in GDP, 5 and capital formation grew steadily. The Brazilian growth rate was highly volatile, but as Araújo, Carpena, and Cunha (2008) have reported, this instability did not affect the dynamics of the GDP pattern. High and sustained growth rates occurred along with extensive political stability after the 1950s (in spite of Getulio Vargas' suicide in 1954 and the military coup in 1964) (Barros, 2009).…”

Section: Figure 1 Brazilian Growth Rates and Breakpointsmentioning

confidence: 83%

El Bndes De La Sustitución De Importaciones Al Neoliberalismo. Una Explicación Marxista

Luna¹

2015

Revista de Economía

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Después de funcionar de manera exitosa durante la época de sustitución de importaciones —incrementando los niveles de producción y del empleo—; en el neoliberalismo, muchos bancos de desarrollo han sido desmantelados o cambiado radicalmente sus funciones. Nuestro objetivo en este artículo es mostrar como el banco de desarrollo de Brasil (BNDES) funcionó durante el período de sustitución de importaciones y neoliberal usando herramientas estadísticas básicas y un marco teórico Marxista. A partir de este enfoque se encuentra que: (1) los desembolsos del BNDES contribuyeron a la industrialización desde 1952 hasta la década de 1970, (2) los desembolsos del BNDES están altamente correlacionados con las inversiones en maquinaria y equipo, y (3) la caída de la tasa de ganancia y la dinámica de la lucha de clases explican el papel cambiante del BNDES desde la sustitución de importaciones hasta el neoliberalismo.

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Section: Figure 1 Brazilian Growth Rates and Breakpointsmentioning

confidence: 83%

El Bndes De La Sustitución De Importaciones Al Neoliberalismo. Una Explicación Marxista

Luna¹

2015

Revista de Economía

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“…For the Brazilian economy, Araújo, Carpena and Cunha [10], analyzing the properties of the growth domestic product from 1850 to 2000, using a GARCH model, did not find statistically significant evidence of the impact of volatility on economic growth. On the other hand, Arbache and Sarquis [11], using data for Brazil from 1901 to 2015, perform several simulations for the Brazilian growth rate and its volatility, and suggest that high volatility has a negative impact on the country's growth.…”

Section: Introductionmentioning

confidence: 94%

Growth and Volatility: An Analysis for the Brazilian Economy

Arruda¹,

Bastos²,

Castelar³

et al. 2019

TEL

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This paper aims to analyze if there is a relationship between economic growth and the volatility of that growth in the Brazilian economy, and, if it exists, to infer if that relationship is positive or negative, since the literature shows evidence for both cases. For that purpose, the econometric strategy used is that of a Generalized Autoregressive Conditional Heteroskedasticity in Mean (GARCH-M) model, using economic growth data compiled by the Central Bank of Brazil, for the period of 1995-2018. The results corroborate the findings of the empirical literature, suggesting a negative relationship between economic growth and its volatility; that is, the hypothesis of the irreversibility of investments prevails. Therefore, the tradeoff between short-term stability and long-term growth for the Brazilian economy in the analyzed period does not seem to occur.

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“…The second dummy ('other measure of volatility') takes 1 when other measures (apart from GARCH and SD) are used. 4 Regarding the issues associated with the specification of the estimated model, The third category focuses on several aspects of the datasets that have been used so far. Since our pool of primary papers is fairly large, covering almost two decades, we are capable of identifying several potential factors of heterogeneity.…”

Section: Table 2 Here -List Of Moderatorsmentioning

confidence: 99%

Volatility and growth: a not so straightforward relationship

Bakas

Chortareas

Magkonis

2018

Oxford Economic Papers

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Conflicting theoretical models and diverse empirical evidence characterize research analysing the relationship between business cycle volatility and economic growth. While the average reported effect of volatility on growth is negative, the empirical estimates vary substantially across studies. We identify the factors that explain this heterogeneity in estimates by conducting a meta-analysis. Our evidence suggests that researchers’ choices regarding the measure of volatility, the control set of the estimated equation, the estimation methods, and the data characteristics can all explain the differences in the reported estimates. Finally, the literature is found to be free of publication bias.

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Brazilian business cycles and growth from 1850 to 2000

Cited by 12 publications

References 13 publications

El Bndes De La Sustitución De Importaciones Al Neoliberalismo. Una Explicación Marxista

El Bndes De La Sustitución De Importaciones Al Neoliberalismo. Una Explicación Marxista

Growth and Volatility: An Analysis for the Brazilian Economy

Volatility and growth: a not so straightforward relationship

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