The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature

Detalhes bibliográficos
Autor(a) principal: Vergnhanini, Rodrigo
Data de Publicação: 2021
Outros Autores: Biancarelli, André
Tipo de documento: Artigo
Idioma: por
Título da fonte: Nova Economia (Online)
Texto Completo: https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6747
Resumo: Throughout the analysis of the Brazilian economic history, one easily notes the complex association between external financing and the components of economic development (taken as growth, structural change and sustainable evolution of external accounts). Firstly, this article explores how these theoretical associations are made by the main theories in the Brazilian economic literature: the liberal / conventional and the new-developmentalist. In both of them, the concept of “external savings” plays a central role, although being predicted to generate the very opposite effects. Secondly, based on the contributions of other heterodox authors, it seeks to present some theoretical underpinnings as constituting of an alternative approach, which could be called the “scarce foreign exchange” approach. The purpose is to define the contours of a research program which is consistent with the most recent empirical findings in this field and, thus, to contribute to the advancement of the Brazilian critical economic theory. Keywords: capital flows, external financing, external savings, growth, development JEL Codes: F30, F41, 010, F43
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spelling The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literaturePapel dos fluxos financeiros e da poupança externa no desenvolvimento econômico: três abordagens no debate brasileiroThroughout the analysis of the Brazilian economic history, one easily notes the complex association between external financing and the components of economic development (taken as growth, structural change and sustainable evolution of external accounts). Firstly, this article explores how these theoretical associations are made by the main theories in the Brazilian economic literature: the liberal / conventional and the new-developmentalist. In both of them, the concept of “external savings” plays a central role, although being predicted to generate the very opposite effects. Secondly, based on the contributions of other heterodox authors, it seeks to present some theoretical underpinnings as constituting of an alternative approach, which could be called the “scarce foreign exchange” approach. The purpose is to define the contours of a research program which is consistent with the most recent empirical findings in this field and, thus, to contribute to the advancement of the Brazilian critical economic theory. Keywords: capital flows, external financing, external savings, growth, development JEL Codes: F30, F41, 010, F43 O recebimento de fluxos financeiros do exterior sempre foi elemento crucial na discussão do desenvolvimento econômico no Brasil. Ao longo da história, explicita-se a complexidade da forma de associação entre financiamento externo e desenvolvimento econômico nacional, entendido nas suas dimensões de crescimento econômico, mudança estrutural e sustentabilidade das contas externas. O presente artigo busca, primeiramente, apresentar e sistematizar essas relações segundo as principais teorias presentes no debate brasileiro: a liberal convencional e a “novo-desenvolvimentista”. Em ambas as visões, o conceito de “poupança externa” adquire protagonismo, ainda que com efeitos diametralmente opostos. Em segundo lugar, a partir de contribuições de outros autores, busca-se apresentar e articular os elementos constitutivos de um enfoque alternativo, denominado “abordagem da escassez de divisas”. Pretende-se com isso delinear contornos de uma linha de pesquisa convergente com os desenvolvimentos empíricos mais recentes sobre o tema e contribuir para o avanço do pensamento econômico crítico brasileiro. Palavras-chave: fluxos financeiros, financiamento externo, poupança externa, crescimento, desenvolvimento. Códigos JEL: F30, F41, 010, F43Departamento de Ciências Econômicas da UFMG2021-12-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttps://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6747Nova Economia; Vol. 31 No. 3 (2021): Revista Nova Economia; 705-728Nova Economia; v. 31 n. 3 (2021): Revista Nova Economia; 705-7281980-53810103-6351reponame:Nova Economia (Online)instname:Universidade Federal de Minas Gerais (UFMG)instacron:UFMGporhttps://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6747/3641Copyright (c) 2021 Rodrigo Vergnhanini, André Biancarellihttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessVergnhanini, RodrigoBiancarelli, André2022-02-22T19:02:41Zoai:ojs.pkp.sfu.ca:article/6747Revistahttps://revistas.face.ufmg.br/index.php/novaeconomiaPUBhttps://revistas.face.ufmg.br/index.php/novaeconomia/oai||ne@face.ufmg.br1980-53810103-6351opendoar:2022-02-22T19:02:41Nova Economia (Online) - Universidade Federal de Minas Gerais (UFMG)false
dc.title.none.fl_str_mv The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
Papel dos fluxos financeiros e da poupança externa no desenvolvimento econômico: três abordagens no debate brasileiro
title The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
spellingShingle The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
Vergnhanini, Rodrigo
title_short The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
title_full The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
title_fullStr The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
title_full_unstemmed The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
title_sort The role of financial flows and external savings in economic development: three theoretical approaches in the Brazilian literature
author Vergnhanini, Rodrigo
author_facet Vergnhanini, Rodrigo
Biancarelli, André
author_role author
author2 Biancarelli, André
author2_role author
dc.contributor.author.fl_str_mv Vergnhanini, Rodrigo
Biancarelli, André
description Throughout the analysis of the Brazilian economic history, one easily notes the complex association between external financing and the components of economic development (taken as growth, structural change and sustainable evolution of external accounts). Firstly, this article explores how these theoretical associations are made by the main theories in the Brazilian economic literature: the liberal / conventional and the new-developmentalist. In both of them, the concept of “external savings” plays a central role, although being predicted to generate the very opposite effects. Secondly, based on the contributions of other heterodox authors, it seeks to present some theoretical underpinnings as constituting of an alternative approach, which could be called the “scarce foreign exchange” approach. The purpose is to define the contours of a research program which is consistent with the most recent empirical findings in this field and, thus, to contribute to the advancement of the Brazilian critical economic theory. Keywords: capital flows, external financing, external savings, growth, development JEL Codes: F30, F41, 010, F43
publishDate 2021
dc.date.none.fl_str_mv 2021-12-30
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6747
url https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6747
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6747/3641
dc.rights.driver.fl_str_mv Copyright (c) 2021 Rodrigo Vergnhanini, André Biancarelli
http://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2021 Rodrigo Vergnhanini, André Biancarelli
http://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Departamento de Ciências Econômicas da UFMG
publisher.none.fl_str_mv Departamento de Ciências Econômicas da UFMG
dc.source.none.fl_str_mv Nova Economia; Vol. 31 No. 3 (2021): Revista Nova Economia; 705-728
Nova Economia; v. 31 n. 3 (2021): Revista Nova Economia; 705-728
1980-5381
0103-6351
reponame:Nova Economia (Online)
instname:Universidade Federal de Minas Gerais (UFMG)
instacron:UFMG
instname_str Universidade Federal de Minas Gerais (UFMG)
instacron_str UFMG
institution UFMG
reponame_str Nova Economia (Online)
collection Nova Economia (Online)
repository.name.fl_str_mv Nova Economia (Online) - Universidade Federal de Minas Gerais (UFMG)
repository.mail.fl_str_mv ||ne@face.ufmg.br
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