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Income distribution and economic growth regime in Brazil: evaluation and propositions

Author

Listed:
  • Laís Fernanda de Azevedo
  • Pedro Cezar Dutra Fonseca
  • Fabricio J. Missio

Abstract

The aim of the article is to empirically analyze the economic growth regimes inBrazil from 2000 to 2015. In theoretical terms, we follow the augmented neo-Kaleckianmodel proposed by Palley (2016). Therefore, we incorporate in the analysis the role of thepersonal and functional distribution of income. In empirical terms, we use a vectorautoregressive model. The results suggest that the growth regime of the Brazilian economywas wage-led. This means that capital accumulation and aggregate demand were favored bypolicies to reduce inequality in the labor market and personal income. Based on the results, we discussed the Brazilian model, arguing in favor of adopting a growth model that canreconcile income distribution and export incentive policies. JEL Classification: C22; D31; D33; E25.

Suggested Citation

  • Laís Fernanda de Azevedo & Pedro Cezar Dutra Fonseca & Fabricio J. Missio, 2022. "Income distribution and economic growth regime in Brazil: evaluation and propositions," Brazilian Journal of Political Economy, Center of Political Economy, vol. 42(1), pages 25-47.
    • Handle: RePEc:ekm:repojs:v:42:y:2022:i:1:p:25-47:id:2294
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    Keywords

    Growth regime; income distribution and economic growth in Brazil;

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

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