From the Miracle to the Lost Decade

Vol. 28 No. 2 (2008)

Apr-Jun / 2008
Published April 1, 2008

How to Cite

Grinberg, Nicolas. 2008. “From the Miracle to the Lost Decade: Intersectoral Transfers and External Credit in the Brazilian Economy”. Brazilian Journal of Political Economy 28 (2):291-311.

From the Miracle to the Lost Decade

intersectoral transfers and external credit in the Brazilian economy

Nicolas Grinberg
Centro para la Investigación como Crítica Práctica (CICP), Buenos Aires, Argentina
Brazilian Journal of Political Economy, Vol. 28 No. 2 (2008), Apr-Jun / 2008, Pages 291-311


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