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The Profit Rate in Brazil, 1953-2003


  • Adalmir Marquetti

    (Departamento de Economia and Programa de Pós-Graduação em Economia, Pontifícia Universidade Católica do Rio Grande do Sul - PUCRS,

  • Eduardo Maldonado Filho

    (Departamento de Ciências Econômicas and Programa de Pós-graduação em Economia, Universidade Federal do Rio Grande do Sul - UFRGS)

  • Vladimir Lautert

    (Instituto Brasileiro de Geografia e Estatística - IBGE)


This paper investigates the profit rate in Brazil between 1953 and 2003. There was a tendency for the profit rate to fall during the period under study determined mainly by the declining productivity of capital. There were three phases in the behavior of the profit rate. In the first phase, between 1953 and 1973, it slowly declined; in the second, from 1973 to late 1980s, it fell sharply; in the third, from late 1989 to 2003, it increased moderately. These phases correspond to the institutional arrangements of the Brazilian economy, respectively, to the import substitution industrialization (ISI) during the golden age of capitalism, to the crisis and rupture of ISI, and to neoliberalism. JEL classification: E25, N16, O30

Suggested Citation

  • Adalmir Marquetti & Eduardo Maldonado Filho & Vladimir Lautert, 2010. "The Profit Rate in Brazil, 1953-2003," Review of Radical Political Economics, Union for Radical Political Economics, vol. 42(4), pages 485-504, December.
  • Handle: RePEc:sae:reorpe:v:42:y:2010:i:4:p:485-504

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    References listed on IDEAS

    1. Manuel Agosin & Roberto Machado, 2005. "Foreign Investment in Developing Countries: Does it Crowd in Domestic Investment?," Oxford Development Studies, Taylor & Francis Journals, vol. 33(2), pages 149-162.
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    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Fernando Rugitsky, 2017. "The rise and fall of the Brazilian economy (2004-2015): the economic antimiracle," Working Papers, Department of Economics 2017_29, University of São Paulo (FEA-USP).
    2. Tomio, Bruno Thiago, 2016. "Understanding the Brazilian demand regime: A Kaleckian approach," IPE Working Papers 73/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    3. Basu, Deepankar & Das, Debarshi, 2015. "Profitability and Investment: Evidence from India's Organized Manufacturing Sector," UMASS Amherst Economics Working Papers 2015-14, University of Massachusetts Amherst, Department of Economics.
    4. repec:pra:mprapa:52503 is not listed on IDEAS
    5. Basu, Deepankar & Das, Debarshi, 2015. "Profitability in India’s Organized Manufacturing Sector: The Role of Technology, Distribution, and Demand," UMASS Amherst Economics Working Papers 2015-04, University of Massachusetts Amherst, Department of Economics.
    6. Mateo Tomé, Juan Pablo, 2014. "The accumulation of capital and economic growth in Brazil. A long-term perspective (1950-2008)," Economics Discussion Papers 2014-3, School of Economics, Kingston University London, revised 04 Mar 2015.
    7. Maito, Esteban Ezequiel, 2014. "Auge y estancamiento de Japón (1955-2008). Una explicación marxista
      [Rise and standstill of Japan (1955-2008). A Marxist explanation]
      ," MPRA Paper 53102, University Library of Munich, Germany.
    8. Joao Paulo A. de Souza, 2014. "Real wages and labor-saving technical change: evidence from a panel of manufacturing industries in mature and labor-surplus economies," UMASS Amherst Economics Working Papers 2014-03, University of Massachusetts Amherst, Department of Economics.

    More about this item


    profit rate; wage; labor productivity; capital productivity; Brazil;

    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General


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