From the Miracle to the Lost Decade
intersectoral transfers and external credit in the Brazilian economy
The present paper examines the Brazilian experience from the ‘Economic Miracle’ to the ‘Lost Decade’. Its aim is to advance an alternative measurement of the flows of extraordinary wealth (i.e. ground-rent and net external credit) available for appropriation in the Brazilian economy and to asses their relevance in sustaining the process of accumulation of industrial capital. That is done in order to provide further and more accurate evidence to the claim that the evolution of the Brazilian process of capital accumulation has been extremely dependent on the evolution of those masses of extraordinary wealth.
JEL Classification: H60; 011; 013; 054; Q19; N16.
Keywords: Brazil Intersectoral Transferences External Debt Economic Miracle Lost Decade