The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985)
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Revista de Economia Política |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200411 |
Resumo: | ABSTRACT This research analyzes the Brazilian structural economic crisis throughout the 1970s and 1980s and the political responses of the Authoritarian National Developmentalism (1964-1985). Firstly, the study highlights the nature of the international oil crises of 1973 and 1979, showing an unexpected rise in interest rates by the US Central Bank and the tightening of external credit after 1979. Rising interest rates meant the end of liquidity in the international credit finance market and the beginning of a drastically recessive policy in Brazil. These factors contributed to the erosion of the growth model based on external debt, a model reflected in two main paradigms: the “economic miracle” (1968-1973) marked by high GDP growth rates; and the II National Development Plan (II PND) (1974-1979), focused on deepening the import substitution industrialization (ISI). The collapse of authoritarianism led to hyperinflation, external indebtedness, and the state’s fiscal crisis, exposing the hegemony of rentier, nonproductive financial capitalism. The second part of the article investigates the negative externalities of the structural economic crisis at the social level, such as concentration, centralization, and closing of the decision-making process, hindering workers’ participation; the intensification of union mobilizations for wage recomposition; the spread of unemployment/underemployment in metropolitan regions; the wage squeeze; the increase in unhealthy labor relations and, therefore, the thinning of the social fabric. |
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The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985)Authoritarian national developmentalismstructural economic crisisexternal debtrecessionunemploymentwage squeezeBrazilABSTRACT This research analyzes the Brazilian structural economic crisis throughout the 1970s and 1980s and the political responses of the Authoritarian National Developmentalism (1964-1985). Firstly, the study highlights the nature of the international oil crises of 1973 and 1979, showing an unexpected rise in interest rates by the US Central Bank and the tightening of external credit after 1979. Rising interest rates meant the end of liquidity in the international credit finance market and the beginning of a drastically recessive policy in Brazil. These factors contributed to the erosion of the growth model based on external debt, a model reflected in two main paradigms: the “economic miracle” (1968-1973) marked by high GDP growth rates; and the II National Development Plan (II PND) (1974-1979), focused on deepening the import substitution industrialization (ISI). The collapse of authoritarianism led to hyperinflation, external indebtedness, and the state’s fiscal crisis, exposing the hegemony of rentier, nonproductive financial capitalism. The second part of the article investigates the negative externalities of the structural economic crisis at the social level, such as concentration, centralization, and closing of the decision-making process, hindering workers’ participation; the intensification of union mobilizations for wage recomposition; the spread of unemployment/underemployment in metropolitan regions; the wage squeeze; the increase in unhealthy labor relations and, therefore, the thinning of the social fabric.Centro de Economia Política2020-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200411Brazilian Journal of Political Economy v.40 n.2 2020reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/0101-31572020-3020info:eu-repo/semantics/openAccessPINHO,CARLOS EDUARDO SANTOSeng2020-04-13T00:00:00Zoai:scielo:S0101-31572020000200411Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2020-04-13T00:00Revista de Economia Política - EDITORA 34false |
dc.title.none.fl_str_mv |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) |
title |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) |
spellingShingle |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) PINHO,CARLOS EDUARDO SANTOS Authoritarian national developmentalism structural economic crisis external debt recession unemployment wage squeeze Brazil |
title_short |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) |
title_full |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) |
title_fullStr |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) |
title_full_unstemmed |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) |
title_sort |
The responses of the authoritarian national developmentalism to the structural economic crisis (1973-1985) |
author |
PINHO,CARLOS EDUARDO SANTOS |
author_facet |
PINHO,CARLOS EDUARDO SANTOS |
author_role |
author |
dc.contributor.author.fl_str_mv |
PINHO,CARLOS EDUARDO SANTOS |
dc.subject.por.fl_str_mv |
Authoritarian national developmentalism structural economic crisis external debt recession unemployment wage squeeze Brazil |
topic |
Authoritarian national developmentalism structural economic crisis external debt recession unemployment wage squeeze Brazil |
description |
ABSTRACT This research analyzes the Brazilian structural economic crisis throughout the 1970s and 1980s and the political responses of the Authoritarian National Developmentalism (1964-1985). Firstly, the study highlights the nature of the international oil crises of 1973 and 1979, showing an unexpected rise in interest rates by the US Central Bank and the tightening of external credit after 1979. Rising interest rates meant the end of liquidity in the international credit finance market and the beginning of a drastically recessive policy in Brazil. These factors contributed to the erosion of the growth model based on external debt, a model reflected in two main paradigms: the “economic miracle” (1968-1973) marked by high GDP growth rates; and the II National Development Plan (II PND) (1974-1979), focused on deepening the import substitution industrialization (ISI). The collapse of authoritarianism led to hyperinflation, external indebtedness, and the state’s fiscal crisis, exposing the hegemony of rentier, nonproductive financial capitalism. The second part of the article investigates the negative externalities of the structural economic crisis at the social level, such as concentration, centralization, and closing of the decision-making process, hindering workers’ participation; the intensification of union mobilizations for wage recomposition; the spread of unemployment/underemployment in metropolitan regions; the wage squeeze; the increase in unhealthy labor relations and, therefore, the thinning of the social fabric. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200411 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200411 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/0101-31572020-3020 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Centro de Economia Política |
publisher.none.fl_str_mv |
Centro de Economia Política |
dc.source.none.fl_str_mv |
Brazilian Journal of Political Economy v.40 n.2 2020 reponame:Revista de Economia Política instname:EDITORA 34 instacron:EDITORA_34 |
instname_str |
EDITORA 34 |
instacron_str |
EDITORA_34 |
institution |
EDITORA_34 |
reponame_str |
Revista de Economia Política |
collection |
Revista de Economia Política |
repository.name.fl_str_mv |
Revista de Economia Política - EDITORA 34 |
repository.mail.fl_str_mv |
||cecilia.heise@bjpe.org.br |
_version_ |
1754122482492637184 |