Macrodynamic Capability: Concept and Monetary and Financial Conditions
AbstractWe consider the concept of Macrodynamic Capability, exploring an heterodox content whose analytical foundation is derived from a number of scholars of diverse ideological conceptions which casts light on the different ways that economies deal with the role and impact of institutional, monetary and financial development to attain some degree of effectiveness in investment, innovation, structural change and economic development. Relevant aspects of the Brazilian economy are considered. In particular, we show some empirical evidence of the banking sector’s concentration and monetary policy which explains to a large extent the prevailing interest rates and high spreads, in disfavour of productive investment and leading to the country’s poor socio-economic performance.
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Bibliographic InfoPaper provided by Departamento de Economia da Universidade de Brasilia in its series Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia with number 323.
Length: 21 pages
Date of creation: Sep 2005
Date of revision:
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Postal: Universidade de Brasília UnB - Campus Universitário Darcy Ribeiro Asa Norte CEP 70910-900, Brasília, Brasil
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Macrodynamic Capability; Finance; Structural Change; Economic Policy; Brazil;
Find related papers by JEL classification:
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