The Brazilian Depression in the 1980s and 1990s

Bugarin, Mirta N. S.; Ellery, Roberto; Gomes, Victor; Teixeira, Arilton

doi:10.21034/mo.9780978936006.ch11

Cited by 16 publications

(14 citation statements)

References 1 publication

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“…Bosworth and Collins (2003) and Loayza, Fajnzylber, and Calderón (2005) show that average TFP in Latin America declined during this decade. Other studies have confirmed this finding for some specific countries, including Kydland and Zarazaga (2002) and Hopenhayn and Neumeyer (2006) for Argentina, Bergoing et al (2002) for Mexico, and Bugarin et al (2007) for Brazil.…”

Section: Introductionmentioning

confidence: 58%

On the Evolution of Total Factor Productivity in Latin America

Ferreira¹,

Pessôa²,

Veloso

2012

Economic Inquiry

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Because of several policy distortions, including import‐substitution industrialization, widespread government intervention, and both domestic and international competitive barriers, there has been a general presumption that Latin America has been much less productive than the leading economies in the last decades. In this paper we show, however, that until the late 1970s Latin American countries had high productivity levels relative to the United States. It is only after the late 1970s that we observe a fast decrease of relative total factor productivity (TFP) in Latin America. We also show that the inclusion of human capital in the production function makes a crucial difference in the TFP calculations for Latin America. (JEL O11, O47, O54)

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Section: Introductionmentioning

confidence: 58%

On the Evolution of Total Factor Productivity in Latin America

Ferreira¹,

Pessôa²,

Veloso

2012

Economic Inquiry

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“…In the case with a government, we remove public spending from the consumption model. This strategy is useful, because it permits using GPD for output instead of GNP, when net exports must be considered as investment (HAYASHI; PRECOTT, 2007;BUGARIN et al, 2007).…”

Section: Datamentioning

confidence: 99%

Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*

Ellery

Gomes

2014

BBR

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This article has two objectives. The first is to show the impact of distortionary taxes during a period of the economic cycle in Brazil. The second is to show that an explanation for output to grow slower than productivity is the increase in taxes on productive factors: capital and labor. To attain these two objectives, we carried out a study comparing the Brazilian economy with simulated data from the neoclassical model of economic growth with and without distortionary taxes. The empirical results show that the model without taxes predicts stronger growth than observed between 2003 and 2007. This point was addressed using the neoclassical growth model with distortionary taxes. However, this model produces a lower output path than observed. Besides this, both models fail to appropriately account for the behavior of the labor market.

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“…1. aumento do poder de oligopólio em indústrias produzindo tanto bens finais como bens intermediários de investimento (como o cimento); 2. ineficiências no processo de produção de bens de capital, na medida em que cada vez mais bens previamente importados são produzidos domesticamente; 3. maior demanda por bens duráveis, incluindo habitações, como uma proteção contra a hiperinflação e os riscos de moratória financeira, com reflexos no preço relativo de tais bens se a curva de oferta for inclinada positivamente -uma hipótese sugerida por Bugarin et al (2003); 4. comportamento defensivo de preços dos oligopolistas, face a atrasos no pagamento de compras governamentais, num contexto de inflação em aceleração 11 ; 5. erros de medida de índices de preços, conforme sugerido por Pinheiro (2003). Isso viria na forma de uma superestimativa dos aumentos dos preços relativos dos bens de investimento, particularmente durante o período hiperinflacionário de 1987-89.…”

Section: Aumento Sustentado Do Preço Relativo Do Investimentounclassified

“…Estudos recentes da experiência de crescimento brasileira utilizaram valores de ? no intervalo de 0,35 a 0,50 (ver Pinheiro et al, 2001;Bugarin et al, 2003;. A adoção de valores nesse intervalo não alteraria nossas conclusões.…”

Section: Conclusão: Sobre O Potencial De Crescimento Brasileirounclassified

“…Este texto é parte de uma recente onda de interesse na análise da experiência brasileira de crescimento, conforme ilustrada pelos trabalhos de Bonelli e Fonseca (1998), Pinheiro et al (2001), Bugarin et al (2003), Pinheiro (2003), e Gomes, Pessoa e Veloso (2003). Sua característica distintiva é uma nova maneira de expressar a igualdade entre poupança e investimento como uma forma de organizar a contabilização do crescimento brasileiro.…”

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Uma interpretação das causas da desaceleração econômica do Brasil

Bacha

Bonelli²

2005

Rev. Econ. Polit.

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Accounting for Brazil's Growth Deceleration. The paper aims at explaining why Brazil's GDP growth plunged after 1980. Brazil's GDP grew at 7% yearly from 1940 to 1980 but at only 2.5% per year since then. Increases in the relative price of investment that reduced the purchasing power of savings, associated to declines in the productivity of capital, seem to have been the most important factors behind the observed loss of dynamism. The tentative conclusion is that inward-oriented economic policies since the 1970s and, perhaps, even as early as the 1950s, had negative long-run growth implications that were aggravated by populist policies in the early years of the post-1984 redemocratization.

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The Brazilian Depression in the 1980s and 1990s

Cited by 16 publications

References 1 publication

On the Evolution of Total Factor Productivity in Latin America

On the Evolution of Total Factor Productivity in Latin America

Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*

Uma interpretação das causas da desaceleração econômica do Brasil

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