TY - JOUR AU - Oliveira, Alanna Santos de AU - Nascimentos, Carlos Alves do PY - 2022/05/05 Y2 - 2024/03/29 TI - Brazilian underdevelopment portrayed by its excluding growth dynamics: an empirical analysis based on Celso Furtado JF - Brazilian Journal of Political Economy JA - BJPE VL - 42 IS - 2 SE - DO - 10.1590/0101-31572022-3269 UR - https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2334 SP - 481-502 AB - <p>Celso Furtado’s analysis of Brazilian underdevelopment is widely recognized for<br>its historical-structural approach, while his macroeconomic analytical bias often receives little<br>attention. Considering this, in addition to giving emphasis to this perspective of his analysis,<br>this work aims at carrying out an empirical essay which tests the relationships among the<br>main variables of the author’s scheme. For this purpose, an SVAR (Structural Vector Autoregressive)<br>is used with data from Brazilian economy, from 1965 to 2015. The results show<br>that the tested interrelations are consistent with his macroeconomic interpretation of the<br>growth process of Brazilian economy in the boundary of underdevelopment.</p><p><strong>JEL Classification:</strong> O11.</p> ER -