2006. The rate of substitution of foreign for domestic savings was high in Brazil in the period 1994-99, as the inverse rate was also high in the 2000-05 period. The critique of growth with foreign savings applied to Brazil. (Unpublished paper)
BRAZILIAN ECONOMY
ALL TEXTS ON BRAZILIAN ECONOMY
2006. Fiscal adjustment is always necessary, but, contrarilly to what conventional orthodoxy says, it is not its lack in Brazil that explain the astronomic interest rates. (Article: Folha de S.Paulo)
2006. Paper comparing three growth strategies old or national-developmentalism, new developmentalism, and Washingtons conventional orthodoxy - actually a form of neutralizing the catching up of medium income countries. An improved version available with the title "Macroeconomics of stagnation and new developmentalism".(Paper Economie Appliquée).
2006. As Mexico is in NAFTA, Mercosul does not have interest in having it as a member. (Article: Folha de S.Paulo).
2006. New developmetalism is a national growth strategy - an alternative to the present conventional orthodoxy. See paper on the subject. (Interview: Folha de S.Paulo).
2006. (Letter). Leia também o artigo de Roberto Giannetti a que me refiro nesta carta.
2006. The rate of substitution of foreign for domestic savings was high in Brazil in the period 1994-99, as the inverse rate was also high in the 2000-05 period. The critique of growth with foreign savings applied to Brazil.(Paper)
2006.3. PSDB is divided between the Rio group, that supports the present conventional orthodoxy, and the São Paulo group that critiques it.(Interview: O Estado de S.Paulo)
2006.3. Giddens believes that Lula is a left politician, but, through a high interest rate, he is just transferring income from the poor to the rentiers. (article: Folha de S.Paulo).
2006.2. PSDB is divided. One group supports the present economic policies, the other, rejects them. (Article: Folha de S.Paulo).
2006. Social inequality and the loss of the concept of nation are the two structural causes behind Brazil's long term quasi-stagnation. (Article: Folha de S.Paulo)
2006. 'New developmentalism' is a third alternative between the conventional wisdom and the dominated or populist wisdom. (Article: Folha de S.Paulo)
2006. The basic steps required to Brazil get out of the interest rate trap in which it is. A change in the 'regiime' of monetary policy is necessary. (Article: Folha de S.Paulo)
2006. The sheer economicism of political analysts does not make sense.(Interview: Folha de S.Paulo)
2006. Interview of Gabriel Palma on the high interest rate in Brazil. (Folha)
2006. Labor revenues decreased in real between 1994 and 2004, despite a small increase in per capita income. The incongruency comes out of the interest paid to rentiers. (Article: Folha de S.Paulo)
2005. The groups that gain with the high interest rate and depreciated currency.(Article: Folha de S.Paulo)
2005. If PSDB was in office, I doubt that it would have the present interest rate policy. (Article: Folha de S.Paulo).
2005. Brazil said 'basta' to Alca, and may say the same to WTO and the Doha Round. It is better to say that than to have a disastrous agreement as it was the Urugay Round for developing countries. (Article: Folha de S.Paulo)