Developmentalist policies in financialized economies: contradictions and impasses of the Brazilian case

Vol. 44 No. 2 (2024)

Apr-Jun / 2024
Published March 22, 2024
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PDF-English

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Bruno, Miguel, and Leda Maria Paulani. 2024. “Developmentalist Policies in Financialized Economies: Contradictions and Impasses of the Brazilian Case”. Brazilian Journal of Political Economy 44 (2):215-40. https://doi.org/10.1590/0101-31572024-3473.
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Developmentalist policies in financialized economies: contradictions and impasses of the Brazilian case

Miguel Bruno
Professor and researcher at the master’s and doctorate Program in Population, Territory and Public Statistics at the National School of Statistical Sciences-ENCE of the Brazilian Institute of Geography and Statistics – IBGE; Associate Professor at the Faculty of Economics at the State University of Rio de Janeiro – UERJ. CNPq researcher.
Leda Maria Paulani
Full professor (senior) at the Department of Economics at the Faculty of Economics, Business and Accounting of the University of São Paulo – FEA-USP. CNPq researcher.
Brazilian Journal of Political Economy, Vol. 44 No. 2 (2024), Apr-Jun / 2024, Pages 215-240

Abstract

This paper discusses the applicability of economic policies and other developmentalist
governmental actions to financialized economies. It mobilizes the theoretical-methodological
regulationist principles for a historical and institutional macro-analysis. After a
brief review of the concepts of the Regulation School, including the “economic policy regime”
(Théret, 1992; Lordon, 2002; Boyer, 2015), the Brazilian case is analyzed as a remarkable example
of institutional compatibility with rentier-financial accumulation to the detriment of
the accumulation of productive fixed capital. Several indicators of this case are presented.

JEL Classification: E02; E6; O1; O2; O3.


Keywords: Economic development institutional structure regulation school financialization Brazilian economy

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