Palavras-chave
Como Citar
Resumo
O objetivo deste artigo consiste em mostrar que os conceitos de regime de crescimento, restrição externa e financeirização presentes em diversos estudos pós-keynesianos sobre crescimento são, não só compatíveis, mas complementares entre si. Tal conciliação pode ser mais bem interpretada com o uso de alguns conceitos da Teoria da Regulação Francesa.
Abstract
The aim of this paper is to show that concepts such as growth regime, external constraints and financialization, which are very common in many Post Keynesian studies on growth, are compatible and complementary. Such reconciliation can be better interpreted using some concepts of the French Regulation Theory.
Keywords: Growth regime; External constraints; Financialization; Post Keynesian economics; French regulation theory.
Referências
ABRAMOVITZ, M. Catching up, forging ahead, and falling behind. The Journal of Economic History, v. 46, n. 2, The Tasks of Economic History, p. 385-406, Jun., 1986.
ACEMOGLU, D. Introduction to modern economic growth. New Jersey: Princeton University Press, 2008.
AMABLE, B.; PETIT, P. The diversity of social systems of innovation and production during the 1990s. Cepremap, 2001. (Cepremap Working Papers, Couverture Orange, 0115).
AMABLE, B. Institutional complementarity and diversity of social systems of innovation and production. Review of International Political Economy, v. 7, n. 4, Winter, p. 645-687, 2000.
AMABLE, B. Les cinq capitalismes: diversité des systèmes économiques et sociaux dans la mondialisation. Économie Humaine, 2005.
AMABLE, B; HENRY, J.; LORDON, F.; TOPOL, R. Unit-root in the wage-price spiral is not hysteresis in unemployment. Journal of Economic Studies, n. 20, p. 123-135, 1993.
AMABLE, B; HENRY, J.; LORDON, F.; TOPOL, R. Strong hysteresis versus zero-root dynamics. Economics Letters, n. 44, p. 43-47, 1994.
AMADEO, E. J. Crescimento, distribuição e utilização da capacidade produtiva: um modelo neo-Steindliano. Pesquisa e Planejamento Econômico, v. 16, n. 3, p. 689-712, 1986.
AMITRANO, C. R. Instituições e desenvolvimento: críticas e alternativas à abordagem de variedades de capitalismo. Tese (Doutorado)–Instituto de Economia, Universidade Estadual de Campinas (IE/Unicamp), 2010.
AOKI, M. Toward a comparative institutional analysis. Cambridge, MA: MIT Press, 2001.
BARBOSA FILHO, N. H. The balance-of-payments constraint: from balanced trade to sustainable debt. Banca Nazionale Del Lavoro Quarterly Review, n. 219, p. 381-399, 2001.
BERTELLA, M. A. O fio da navalha de Harrod e a resposta da Escola de Cambrigde. Análise Econômica (UFRGS), p. 113-126, set. 2000.
BERTELLA, M. A. Modelos de crescimento Kaleckianos: uma apreciação. Revista de Economia Política, v. 27, p. 209-220, 2007.
BÉRTOLA, L.; HIGASHI, H.; PORCILE, G. Balance-of-payments-constrained growth in Brazil: a test of Thirlwall’s Law, 1890-1973. Journal of Post Keynesian Economics, v. 25, n. 1, Fall, 2002.
BLECKER, R. Distribution, demand, and growth in neo-Kaleckian macro models. In: SETTERFIELD, M. (Ed.). The economics of demand-led growth: challenging the supplyside vision of the long run. Cheltenham: Edward Elgar, 2002.
BLECKER, R. Long-run growth in open economies: export-led cumulative causation or a balance-of-payments constraint? In: SUMMER SCHOOL ON KEYNESIAN MACROECONOMICS AND EUROPEAN ECONOMIC POLICIES, 2. Berlin, 2-9 Aug., 2009. Anais eletrônicos... Disponível em: http://www1.american.edu/academic.depts/ cas/econ/workingpapers/2009-23.pdf BOWLES, S.; GINTIS, H. Social preferences, homo economicus and zoon politikon. In: GOODIN, R. E.; TILLY, C. The Oxford handbook of contextual political analysis. Oxford: Oxford University Press, 2005.
BOYER, R. Formalizing growth regimes. In: DOSI, G. et al. (Ed). Technical change and economic theory. London: Frances Pinter, 1988.
BOYER, R. Is a finance-led growth regime a viable alternative to Fordism? A preliminary analysis. Economy and Society, v. 29, n. 1, p. 111-145, 2000.
BOYER, R. Teoria da regulação: os fundamentos. São Paulo: Estação Liberdade, 2009.
BOYER, R.; PETIT, P. Kaldor’s growth theories: past, present and prospects for future. In: NELL, E.; SEMMLER, W. (Ed.). Nicholas Kaldor and mainstream economics: confrontation or convergence? London: Macmillan, 1991.
BOYER, R.; SAILLARD, Y. (Org.). Théorie de la régulation: l’état des savoirs. Paris: La Découverte, 1995.
CARVALHO, Veridiana Ramos da Silva; LIMA, Gilberto Tadeu. Estrutura produtiva, restrição externa e crescimento econômico: a experiência brasileira. Economia e Sociedade, Campinas, v. 18, n.1, p. 31-60, 2009.
CASSETI, M. Conflict, Inflation, distribution and terms of trade in the Kaleckian model. In: SETTERFIELD, M. (Ed.). The economics of demand-led growth: challenging the supply-side vision of the long run. Edward Elgar, 2002.
CASSETI, M. Bargaining power, effective demand and technical progress: a Kaleckian model of growth. Cambridge Journal of Economics, v. 27, p. 449-464, 2003.
CASTELACCI, F. A. Technology-gap approach to cumulative growth: toward an integrated model. Empirical evidence for Spain, 1960-1997. May 2001. Disponível em: http://www3.druid.dk/wp/20010004.pdf. (DRUID Working Paper, n. 01-04).
CHICK, V.; CASERTA, M. Provisional equilibrium and macroeconomic theory. In: ARESTIS, P.; PALMA, G.; SAWYER, M. (Ed.). Markets, unemployment and economic policy: essays in honour of Geoff Harcourt, v. 2. London: Routledge, 1997.
COMMENDATORE, P. et al. Keynesian theories of growth. In: SALVADORI, N. The theory of economic growth: a ‘classical’ perspective. Cheltenham: Edward Elgar, 2002.
CORNWALL, J.; CORNWALL, W. Capitalist development in the twentieth century: an evolutionary Keynesian analysis. Cambridge: Cambridge University Press, 2001.
COUTO, C. G. O avesso do avesso: conjuntura e estrutura na recente agenda política brasileira. São Paulo em Perspectiva, São Paulo, v. 15 n. 4, out./dez. 2001.
COUTO, C. G; ARANTES, R. B. Constituição, governo e democracia no Brasil. Revista Brasileira de Ciências Sociais, v. 21 n. 61, jun. 2006.
DALLERY, T. Post-Keynesian theories of the firm under financialization. Review of Radical Political Economics, v. 41, n. 4, p. 492-515, Fall, 2010.
DEQUECH, D. Fundamental uncertainty and ambiguity. Eastern Economic Journal, v. 26, n. 1, p. 41-60, 2000.
DEQUECH, D. Conventional and unconventional behavior under uncertainty. Journal of Post Keynesian Economics, v. 25, n. 4, p. 145-168, 2003.
DEQUECH, D. New institutional economics and the theory of economic behaviour under uncertainty. Journal of Economic Behavior and Organization, v. 59, p. 109-131, 2006.
DIXON, R. J.; THIRLWALL, A. P. A model of regional growth-rate differences on Kaldorian Lines. Oxford Economic Papers, v. 27, p. 201-214, 1975.
DOSI, G.; EGIDI, M. Substantive and procedural uncertainty: An exploration of economic behaviours in changing environments. Journal of Evolutionary Economics, n. 1, p. 145-68, 1991.
DOS SANTOS, C. H. Keynesian theorising during hard times: stock-flow consistent models as an unexplored frontier of Keynesian macroeconomics. Cambridge Journal of Economics, v. 30, p. 541-565, 200.
DOS SANTOS, C. H; MACEDO E SILVA, A. C. Revisiting (and connecting) Marglin-Bhaduri and Minsky: A SFC look at financialization and profit-led growth. Levy Economics Institute, 2009. (Working Paper, n. 567). Disponível em: http://www.levyinstitute.org/pubs/wp_567.pdf.
DUTT, A. K. Stagnation, income distribution and monopoly power. Cambridge Journal of Economics, n. 8, p. 25-40, 1984.
DUTT, A. K. Growth, distribution and uneven development. Cambridge, New York: Cambridge University Press, 1990.
EPSTEIN, G. Financialization, rentier interests, and central bank policy. Department of Economics, University of Massachusetts, Amherst, MA, December, 2001. (Working Paper). Disponível em: http://www.peri.umass.edu/fileadmin/pdf/financial/fin_ Epstein.pdf.
FAGERBERG, J. Technology and International differences in growth rates. Journal of Economic Literature, v. 32, p. 1147-1175, 1994.
FOLEY, D. K.; MICHL, T. R. Growth and distribution. Cambridge, MA: Harvard University Press, 1999.
FREY, K. Políticas públicas: um debate conceitual e reflexões referentes à prática da análise de políticas públicas no Brasil. Planejamento e Políticas Públicas, Brasília, IPEA, v. 21, p. 211-259. 2000, Disponível em: http://www.ipea.gov.br/pub/ppp/ppp21/Parte5.pdf.
GODLEY, W.; LAVOIE, M. Monetary economics: an integrated approach to credit, money, income, production and wealth. Palgrave Macmillan, 2007.
HARRIS, R. Models of regional growth: past, present and future. Spatial Economics Research Centre, LSE, 2008. (SERC Discussion Papers, n. 0002). Disponível em: http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0002.pdf.
HEIN, E. Money, distribution conflict and capital accumulation: contributions to monetary analysis. Palgrave Macmillan, 2008.
HEIN, E. A (post-) Keynesian perspective on ‘financialisation’. Macroeconomic Policy Institute (IMK), 2009a. (Working Paper n. 1). Disponível em: http://www.boeckler.de/ pdf/p_imk_studies_01_2009.pdf.
HEIN, E. Financialisation, distribution, capital accumulation and productivity growth in a Post-Kaleckian model. Nov. 2009b. (Munich Personal RePEc Archive (MPRA) Paper, n. 18574). Disponível em: http://mpra.ub.uni-muenchen.de/18574/1/MPRA_paper_18574.pdf.
HEIN, E.; TARASSOW, A. Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model. Cambridge Journal of Economics, n. 34, p. 727-754, 2010.
HEIN, E.; VAN TREECK. ‘Financialisation’ in Kaleckian/Post-Kaleckian models of distribution and growth. Macroeconomic Policy Institute (IMK). 2007. (Working Paper, n. 07). Disponível em: http://www.boeckler.de/pdf/p_imk_wp_07_2007.pdf.
HEIN, E.; VAN TREECK. ‘Financialisation’ in Post-Keynesian models of distribution and growth – a systematic review. Macroeconomic Policy Institute (IMK). 2008. (Working Paper, n. 10). Disponível em: http://www.boeckler.de/pdf/p_imk_wp_10_2008.pdf.
HERSCOVICI, A. História, entropia e não linearidade: algumas aplicações possíveis na Ciência Econômica. Revista de Economia Política, São Paulo, v. 25, n. 3, p. 277-294, 2005.
HOLLAND, M.; VIEIRA, F.; CANUTO, O. Economic growth and the balance-ofpayments constraint in Latin America. Investigación Económica, v. LXIII, n. 247, 2004.
JAYME JR., F. G. Balance-of-payments-constrained economic growth in Brazil. Revista de Economia Política, v. 23, jan./mar. 2003.
JAYME JR., F. G; RESENDE, M. F. C. Crescimento econômico e restrição externa: teoria e a experiência brasileira. In: MICHEL, R.; CARVALHO, L. (Org.). Crescimento econômico, setor externo e inflação. Rio de Janeiro: Ipea, 2009.
JONES, C. I. Introdução à teoria do crescimento econômico. Ed. Campus, 2000.
JUSELIUS, K. Time to reject the privileging of economic theory over empirical evidence? A reply to Lawson. Cambridge Journal of Economics, 2010.
KALDOR, N. [1958]. Capital acumulation and growth. In: TARGETTI, F.; THIRLWALL, A. P. (Org.). The Essential Kaldor. New York: Holmes & Meier Publishers Inc., 1989.
KALDOR, N [1966]. Causes of the slow rate of economic growth of The United Kingdom. In: TARGETTI, F.; THIRLWALL, A. P. (Org.). The Essential Kaldor. New York: Holmes & Meier Publishers, Inc., 1989.
LAVOIE, M. Foundations of post Keynesian economic analysis. Aldershot: Edward Elgar, 1992.
LAVOIE, M. The neo-Pasinetti theorem in Cambridge and Kaleckian models of growth and distribution. Eastern Economic Journal, 24, p. 417-434, 1998.
LEÓN-LEDESMA, M. Cumulative growth and the catching-up debate from a disequilibrium standpoint. In: MCCOMBIE, J. S. L.; PUGNO, M.; SORO, B. (Ed.).
Productivity growth and economic performance: essays on Verdoorn’s Law. New York: Palgrave, Macmillan, 2002.
LLERENA, P.; LORENTZ, A. Co-evolution of macro-dynamics and technological change: an alternative view on growth. Revue d’Économie Industrielle, v. 105, p. 47-70, 1er trimester 2004.
LIBÂNIO, G. Unit roots in macroeconomic time series: a post keynesian interpretation. Belo Horizonte: Cedeplar, 2004. (Texto para Discussão, n. 233). Disponível em: http://www.cedeplar.ufmg.br/pesquisas/td/TD%20233.pdf.
LIBÂNIO, G. Unit roots in macroeconomic time series: theory, implications and evidence. Nova Economia, Belo Horizonte, v. 15, n. 3, p. 145-176, set./dez. 2005.
LIMA, G. T.; CARVALHO, V. R. Macrodinâmica do produto sob restrição externa: a experiência brasileira no período, 1930-2004. Revista de Economia Aplicada, v. 12, p. 55- 77, 2008.
LOPEZ, J.; CRUZ, A. Thirlwall´s law and beyond: the Latin American experience. Journal of Post Keynesian Economics, v. 22, n. 3, Spring 2000.
MACEDO E SILVA, A. C.; DOS SANTOS, C. H. Além do curto prazo? Explorando os nexos entre a teoria pós keynesiana e a macrodinâmica de fluxos e estoques. Campinas: IE/ Unicamp, 2008. (Texto para Discussão, n. 141). Disponível em: http://www.eco.unicamp.br/Downloads/Publicacoes/TextosDiscussao/textos141.pdf.
MARGLIN, S. A.; BHADURI, A. Profit squeeze and Keynesian theory. In: MARGLIN, S.
A.; SCHOR, J. B. (Ed.). The golden age of capitalism: reinterpreting the postwar experience. Oxford: Oxford University Press, 1990. p. 153-186.
MCCOMBIE, J. S. L.; ROBERTS, M. The role of the balance of payments in economic growth. In: SETTERFIELD, M. (Ed.). The economics of demanded-led growth: challenging the supply-side vision of the long run. Cheltenham: Edward Elgar, 2002.
MCCOMBIE, J. S. L.; ROBERTS, M. Returns to scale and regional growth: the static-dynamic Verdoorn Law paradox revisited. Journal of Regional Science, v. 47, n. 2, p.179-208, 2007.
MCCOMBIE, J.; THIRLWALL, A. P. Economic growth and the balance-of-payments constraint. Basingstoke: Macmillan, 1994.
MOREIRA, R.; HERSCOVICI, A. Path-dependence, expectativas, e regulação econômica: elementos de análise a partir de uma perspectiva pós-keynesiana. Revista Economia Contemporânea, Rio de Janeiro, v. 10, n. 3, p. 547-574, set./dez. 2006.
MORENO-BRID, J. C., On capital flows and the balance-of-payments-constrained growth model. Journal of Post Keynesian Economics, v. 21, n. 2, p. 283-98, Winter 1998-99.
NAASTEPAD, C. W. M. Technology, demand and distribution: a cumulative growth model with an application to the Dutch productivity growth slowdown. Cambridge Journal of Economics, 30, p. 403-434, 2006.
NELSON, C.; PLOSSER, C. Trends and Random Walks in macro-economic time series: some evidence and implications. Journal of Monetary Economics, 10, 1982.
OREIRO, J. L. C. Acumulação de capital, equilíbrios múltiplos e path-dependence: uma análise a partir de um modelo pós-keynesiano de crescimento endógeno. Estudos Econômicos. Instituto de Pesquisas Econômicas, São Paulo, v. 31, n.1, p. 167-203, 2001.
PALLEY, T. Post keynesian economics: debt, distribution, and the macro economy. New York: St. Martin’s Press, 1996.
PALLEY, T. Class conflict and the Cambridge theory of distribution. In: GIBSON, B. (Ed.). Joan Robinson’s economics: a centennial celebration. Cheltenham: Edward Elgar, 2005.
PALLEY, T. Financialization: what it is and why it matters. PERI, Nov. 2007. (Working Paper Series, n. 153). Disponível em: http://www.peri.umass.edu/fileadmin /pdf/working_papers/working_papers_151-200/WP153.pdf.
PETIT, P. Structural forms and growth regimes of the post-Fordist era. Review of Social Economy, v. 57, 2, p. 220-243, Jun. 1999.
PETIT, P. Croissance et richesse des nations. Paris: La Decouverte, 2005.
PIERSON, P. Politics in time: history, institutions and social analysis. New Jersey: Princeton University Press, 2004.
ROBERTS, M. The conditional convergence properties of simple Kaldorian growth models. International Review of Applied Economics, v. 21, n. 5, p. 619-632, Dec. 2007.
ROWTHORN, R. E. Demand, real wages and economic growth. Thames Papers in Political Economy, Aut. 1981.
RYOO, S.; SKOT, P. Financialization in kaleckian economies with and without labor constraints. University of Massachusetts Amherst, Department of Economics, 2008. (Working Paper, n. 05). Disponível em: http://www.umass.edu/economics /publications/2008-05.pdf.
SANTOS, A. T. L.; LIMA, G. T.; CARVALHO, V. R. A restrição externa como fator limitante do crescimento econômico brasileiro: um teste empírico. In: ENCONTRO NACIONAL DE ECONOMIA, 23, Natal, dez. 2005. Anais eletrônicos... Disponível em: www.anpec.org.br.
SETTERFIELD, M. Path dependency, hysteresis and macrodynamics. In: ARESTIS, P.; SAWYER, M. (Ed). Path dependency and macroeconomics. London: Palgrave Macmillan, 2009.
SETTERFIELD, M. Endogenous growth: a Kaldorian approach. Trinity College, Department of Economics, 2010a. (Working Paper, n. 10-01). Disponível em: http://internet2.trincoll.edu/repec/WorkingPapers2010/wp10-01.pdf.
SETTERFIELD, M. Anticipations of the crisis: on the similarities between post Keynesian economics and regulation theory. Trinity College, Department of Economics. 2010b.
(Working Paper, n. 10-07). Disponível em: http://internet2.trincoll.edu/repec/ WorkingPapers2010/wp10-07.pdf SETTERFIELD, M.; CORNWALL, J. A neo-Kaldorian perspective on the rise and decline of the Golden Age. In: SETTERFIELD, M. (Ed.). The economics of demanded-led growth: challenging the supply-side vision of the long run. Cheltenham: Edward Elgar, 2002.
SIMON, H. Barriers and bounds to Rationality. Structural Change and Economic Dynamics, 11, p. 243–253, 2000.
SKOT, P.; RYOO, S. Macroeconomic implications of financialization. University of Massachusetts Amherst, Department of Economics, 2007. (Working Paper, n. 08). Disponível em: http://www.umass.edu/economics/publications/2007-08.pdf.
SOLOW, R. Perspectives on growth theory. The Journal of Economic Perspectives, v. 8, n. 1, p. 45-54, Winter 1994.
SOLOW, R. Neoclassical growth theory. In: TAYLOR, J. B.; WOODFORD, M. (Org.). Handbook of macroeconomics. North Holland, 1999.
STOCKHAMMER, E. Robinsonian and Kaleckian growth: an update on post-keynesian growth theories. Department of Economics, Vienna University of Economics and Business Administration, Oct. 1999. (Working Paper, n. 67). Disponível em: http://www.wu.ac.at/inst/vw1/papers/wu-wp67.pdf.
STOCKHAMMER, E. Some stylized facts on the finance-dominated accumulation regime. Competition & Change, v. 12, n. 2, p. 184–202, Jun. 2008.
STORM, S.; NAASTEPAD, C. W. M. It is high time to ditch the NAIRU. Journal of Post Keynesian Economics, v. 29, n. 4, p. 531-554, Summer 2007.
TAYLOR, L. Income distribution, inflation and growth: lectures on structuralist macroeconomic theory. Cambridge MA: The MIT Press, 1991.
THIRLWALL A. P. The balance of payments constraint as an explanation of international growth rates differences. Banca Nazionale del Lavoro Quarterly Review, 128, p. 45–53, 1979.
THIRLWALL A. P. A natureza do crescimento econômico: um referencial alternativo para compreender o desempenho das nações. Brasília: Ipea, 2005.
THIRLWALL A. P; DIXON, R. J. A model of export-led growth with a balance of payments constraint. In: BOWERS, J. K. (Ed.). Inflation, development and integration: essays in honour of A. J. Brown. Leeds: Leeds University Press, 1979.
THIRLWALL A. P; HUSSAIN, M. The balance of payments constraint, capital flows and growth rates differences between developing countries. Oxford Economic Papers, v. 34, 1982.
VAN TREEK, T. A synthetic, stock-flow consistent macroeconomic model of financialisation. Macroeconomic Policy Institute (IMK), 2007. (Working Paper, n. 6). Disponível em: http://www.boeckler.de/pdf/p_imk_wp_06_2007.pdf.
ZAMPARELLI, L. The steady state growth rate in the neoclassical theory: a brief survey. The New School Economic Review, v. 1, n. 1, Fall 2004.
WOOD, A. A theory of profits. Cambridge: Cambridge University Press, 1975. [Edição em português: Uma teoria de lucros. Rio de Janeiro: Paz e Terra, 1980].
A Economia e Sociedade utiliza a licença do Creative Commons (CC), preservando assim, a integridade dos artigos em ambiente de acesso aberto.
Downloads
