IDEAS home Printed from
   My bibliography  Save this paper

Finance and industrial evolution: introductory notes on a key relationship for the capitalist accumulation


  • João Antonio de Paula
  • Hugo E. A. da Gama Cerqueira


  • Eduardo da Motta e Albuquerque



This paper discusses the role of credit in the capitalist accumulation. It presents Hilferding’s analysis of the financing of corporations and of the role of stock exchange as an agent of the mobilization of capital. Theoretical and historical elements are deployed to support a conjecture about the changing relationship between fictitious and real capital and its relevance for the theoretical analysis of contemporary capitalism.

Suggested Citation

  • João Antonio de Paula & Hugo E. A. da Gama Cerqueira & Eduardo da Motta e Albuquerque, 2002. "Finance and industrial evolution: introductory notes on a key relationship for the capitalist accumulation," Textos para Discussão Cedeplar-UFMG td179, Cedeplar, Universidade Federal de Minas Gerais.
  • Handle: RePEc:cdp:texdis:td179

    Download full text from publisher

    File URL:
    File Function: PDF version of the paper published in Econômica, 2001
    Download Restriction: no

    File URL:
    File Function: Working paper, 2002
    Download Restriction: no

    More about this item


    finance capital; promoter’s profit; fictitious capital; Rudolf Hilferding;

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cdp:texdis:td179. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gustavo Britto). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.