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Comportamento Da Produtividade Do Capital E Sua Influência Na Contabilidade Do Crescimento


  • Aumara Bastos Feu Alvim de Souza


This study aims at analyzing the capital productivity in Brazil, its historical behavior and influence on the future development of the country. In what concerns Brazil, the capital productivity has decreased considerably, reaching the average level observed in the OECD countries, in spite of the fact that the average output per worker in Brazil is one third of the value in those countries. After removing from the Brazilian capital/product ratio series (inverse of the capital productivity) the influence of variations on the installed capacity, it was verified that, with a smaller capital productivity level, Brazil has a limited capacity of convergence to the same income level of the developed countries as well as of remunerating the capital, which might cause the present low investment level in the country. Therefore, the study shows that increasing the capital productivity could be the path to increase the sustainable growth of the country.

Suggested Citation

  • Aumara Bastos Feu Alvim de Souza, 2004. "Comportamento Da Produtividade Do Capital E Sua Influência Na Contabilidade Do Crescimento," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] 043, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
  • Handle: RePEc:anp:en2004:043

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    References listed on IDEAS

    1. Pessôa, Samuel de Abreu & Pessoa, Silvia Maria Matos & Rob, Rafael, 2003. "Elasticity of substitution between capital and labor: a panel data approach," FGV/EPGE Economics Working Papers (Ensaios Economicos da EPGE) 494, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
    2. Chirinko, Robert S., 2002. "Corporate Taxation, Capital Formation,and the Substitution Elasticity Between Labor and Capital," National Tax Journal, National Tax Association;National Tax Journal, vol. 55(2), pages 339-355, June.
    3. Tjalling C. Koopmans, 1963. "On the Concept of Optimal Economic Growth," Cowles Foundation Discussion Papers 163, Cowles Foundation for Research in Economics, Yale University.
    4. Bielschowsky, Ricardo & Moguillansky, Graciela & Pini, Claudio, 2001. "Investment and economic reform in Latin America," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 63 edited by Eclac, OCTOBER.
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    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence


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