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The Accumulation of Capital and Economic Growth in Brazil: A Long-Term Perspective (1950–2008)

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  • Juan Pablo Mateo

Abstract

This article analyzes the economic growth in Brazil in 1950–2008. It shows that a fall in both the profit rate and the output/capital ratio is behind the debt crisis and the subsequent neoliberal restructuring since the late 1980s. Therefore, there has not been any disconnection between profitability and investment, so the capacity to generate surplus underlies the particularities of the capital accumulation during both the import substitution and the neoliberal phases.

Suggested Citation

  • Juan Pablo Mateo, 2018. "The Accumulation of Capital and Economic Growth in Brazil: A Long-Term Perspective (1950–2008)," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(2), pages 370-391, June.
    • Handle: RePEc:sae:reorpe:v:50:y:2018:i:2:p:370-391
    DOI: 10.1177/0486613417696530
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    References listed on IDEAS

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    More about this item

    Keywords

    growth; capital; profitability; productivity;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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