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Por que o Brasil não precisa de política industrial

Listed author(s):
  • Pinheiro, Maurício Canêdo
  • Ferreira, Pedro Cavalcanti
  • Pessoa, Samuel de Abreu
  • Oliveira, Luiz Guilherme Schymura de

This article discusses the convenience of adopting industrial policy in Brazil. We argue that the success of East Asian countries, usually explained by industrial policy, is mainly result of horizontal policies. We also show that there are not theoretical or empirical foundations in most of the arguments used to justify industrial policy and that industrial policy must be motivated by market failures. We briefly discuss what market failures theoretically justify industrial policy, what the empirical relevance of these failures and what the most adequate instruments to be used in case of public intervention. From this perspective, we analyze the Brazilian industrial policy, such as described in Brasil (2003). Finally, we conclude that horizontal policies, besides to be less subject to the influence of self-interested groups, have more potential to foster Brazilian growth.

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Paper provided by FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil) in its series FGV/EPGE Economics Working Papers (Ensaios Economicos da EPGE) with number 644.

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Date of creation: 01 Mar 2007
Handle: RePEc:fgv:epgewp:644
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