Bresser-Pereira Website

	A tendência à sobreapreciação da taxa de câmbio no Brasil 2010. The tendency to the cyclical overevaluation of the exchange rate in developing countries is easily seen in Brazil. (Paper in edited book)
	Meus principais trabalhos sobre taxa de câmbio e crescimento 2010. My main works relating the exchange rate with economic growth. (A bibliography, only in this website).
	Globalización y Competencia 2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Siglo XXI).
	Globalization and Competition 2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Cambridge University Press).
	Globalização e Competição 2009. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Elsevier).
	Mondialisation et compétition 2009. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Éditions La Découverte)
	Doença holandesa e indústria (coletânea) 2010. Livro que contém os trabalhos apresentados no 4o. Fórum de Economia da Fundação Getulio Vargas.
	Developing Brazil - Overcoming the Failure of the Washington Consensus 2009. An encompassing analysis of the Brazilian macroeconomic system. The failure of the Washington consensus or of conventional orthodoxy in making Brazil to catch up after the 1994 Real Plan stabilized high and inertial inflation. (This book is an atualized version of Macroeconomia da Estagnação)
	Common currency and economic integration in Mercosur 2010. With Marcio Holland. Latin America integration, particularly Mercorsul, would be strengthened if there was a common currency. We should work on this direction. (Paper : Journal of Post Keynesian Economics.
	Crises financeiras nos anos 1990 e poupança externa 2008. With Lauro Gonzales e Cláudio Lucinda. Differently of what says conventional economic analysis, the cause of the 1990s financial crises in Mexico, Asia, Brazil and Argentina was not primarily fiscal, but the decision of governments to grow with foreign savings, i.e., with current account deficits. (Paper in Nova Economia).
	A tendência à sobreapreciação da taxa de câmbio 2009. Brazil as all developing countries is subjected to the tendency to the overvaluation of the exchange rate. Since 1991 Brazil stop neutralizing this tendency, and was stage of substitution of foreign for domestic savings, balance of payment crises and low growth. (Paper: Econômica, Rio de Janeiro, V. 11, No. 1 Spanish version available.
	Why not limit capital inflows? (Folha, 25.5.09) 2009. Because this policy goes against the neoliberal fundamentalist principles that the economists learned in their schools. (Article: Folha de S.Paulo).
	Por que não limitar a entrada de capitais? (Folha, 25.5.09) 2009. Porque essa política vai contra os princípios fundamentalistas neoliberais aprendidos pelos economistas nas suas escolas (Article: Folha de S.Paulo).
	The tendency to the over-appreciation of the exchange rate. 2008. In developing countries there is the tendency to the overvaluation of the exchange rate. If countries do not neutralize it, they will experiment slow growth, and catching up will not happen. (Chapter 4 of book to be published, Globalization and Competition). Spanish version and Portuguese version available.
	A crise cambial de 2008 (Folha, 17.11.08) 2008. The sharp depreciation of the Real and of many other national currencies were triggered by the world financial crisis, but caused by the overvaluation of these currencies and the consequent large current account deficits. (article: Folha de S.Paulo)
	La enfermedad holandesa y su neutralización 2008. The Dutch disease or natural resources curse is a major market failure to the extent that appreciates the exchange rate and makes not profitable industries using technology in the state of the art. English version available.
	Doença holandesa e sua neutralização: uma abordagem ricardiana 2008. A country suffering from the Dutch disease has two "equilibrium" exchange rates: the "current equilibrium" that is inconsistent with economic growth, and the"industrial equilibrium" that will be achieved if the country is able to neutralize the disease. (Paper in edited book) English version published in Brazilian Journal of Political Economy)
	The Dutch disease and its neutralization: a Ricardian approach 2008. A country suffering from the Dutch disease has two "equilibrium" exchange rates: the "current equilibrium" that is inconsistent with economic growth, and the"industrial equilibrium" that will be achieved if the country is able to neutralize the disease. (Paper: Brazilian Journal of Political Economy)
	Câmbio real e poupança interna (Valor, 20.8.08) 2008. Contrarily to what say conventional economists, current account deficit does not imply excess demand it may simply be the outcome of an overvalued exchange rate. (Article with Paulo Gala: Valor).
	The political economy of global economic disgovernance 2005. There is no financial order in the world. The the enormous US current account deficit in the US points out to a hard landing. Portuguese version available.(Texto para Discussão EESP 151)
	Política industrial e câmbio (Folha, 19.5.08) 2008. A política industrial anunciada merece apoio, mas não substitui uma taxa de câmbio não-competitiva (Article: Folha de S.Paulo)
	Foreign savings, insufficiency of demand, and low growth 2008. With Paulo Gala. An overvalued currency is a central cause of insufficiency of demand. The growth with foreign savings policy appreciates local currencies, increases domestic consumption, and causes domestic saving to be replaced by foreign savings. (Paper Journal of Post Keynesian Economics).
	Por qué el ahorro externo no promueve el crecimiento? 2008. With Paulo Gala. A formalization of the critique of the strategy of growth with foreign savings: the consequent exchange rate appreciation increases artificially wages and causes the substitution of domestic with foreign savings. Portuguese and English versions available. (Paper: Investigación Económica).
	The political economy of trade, finance, and the exchange rate 2007. Trade cannot be de-linked from finance because the exchange rate represents a major intersection between the two field. Yet, the exchange rate is forgotten in international trade and in economic growth courses, and in trade negotiations at WTO. Countries that have reserve currencies abhor taking on the exchange rate (Intervention at UNCTAD seminar)
	The political economy of trade, finance, and the exchange rate 2007. Trade cannot be de-linked from finance because the exchange rate represents a major intersection between the two field. Yet, the exchange rate is forgotten in international trade and in economic growth courses, and in trade negotiations at WTO. Countries that have reserve currencies abhor taking on the exchange rate (Intervention at UNCTAD seminar)
	Macroeconomia da Estagnação: Crítica da Ortodoxia Convencional no Brasil pós-1994 2007. An encompassing analysis of the Brazilian macroeconomic system. The failure of the Washington consensus or of conventional orthodoxy in making Brazil to catch up after the 1994 Real Plan stabilized high and inertial inflation. (Book: Editora 34)
	Tarifas, câmbio e OMC 2007. Tariffs are often not protectionist but compensate an overvalued currency. (Article: Folha de S.Paulo).
	Why foreign savings fail to cause growth 2007. With Paulo Gala. A formalization of the critique of the strategy of growth with foreign savings: the consequent exchange rate appreciation increases artificially wages and causes the substitution of domestic with foreign savings. Portuguese and Spanish versions available.(Paper to be published in book)
	Doença holandesa e estagnação 2006. The Dutch disease hit the Brazilian economy since the early 1990s trade liberalization appreciated in effective terms the exchange rate. It is quasi-stagnation main long term cause. (Article: Folha de S.Paulo)
	The substitution of foreign for domestic savings and its inverse: the Brazilian case 2006. The rate of substitution of foreign for domestic savings was high in Brazil in the period 1994-99, as the inverse rate was also high in the 2000-05 period. The critique of growth with foreign savings applied to Brazil. (Unpublished paper)
	Exchange rate: fix, float, or manage it? 2006. The exchange rate determines not only exports and imports, but also real wages, consumption and the savings rate. (Preface to book edited by Mathias Vernengo)
	Substituição da poupança interna pela externa e seu inverso: o caso do Brasil 2006. The rate of substitution of foreign for domestic savings was high in Brazil in the period 1994-99, as the inverse rate was also high in the 2000-05 period. The critique of growth with foreign savings applied to Brazil.(Paper)
	Crítica do crescimento com poupança externa 2005. With Paulo Gala. A formalization of the critique of the strategy of growth with foreign savings that I have been doing since 2001. This version was substantially improved in 2006 receiving the new title "Why foreign savings fail to cause growth", in English, and "Por que a poupança externa não promove crescimento" in Portuguese. I keep this version here just for the record. (Paper: Texto para Discussão)
	A China vai se curvar? 2005 China evluated 2,1% the yuan, but this does not mean that she will submit to the US. The secret of her enormous growth has been to reject foreign savings and foreing advices.(Article: Folha de S.Paulo)
	The Second Washington Consensus and Latin Americas Quasi-Stagnation 2004. With Carmen Varela. Latin Americas quasi-stagnation in the 1990s can be explained principally by the growth cum foreign savings strategy. (Paper: Journal of Post Keynesian Economics)
	Desenvolvimento e Crise no Brasil (5a. edição) 2003. The patterns of economic development and the political pacts in Brazil from Vargas (1930) to Lula (2003). 5th revised edition almost doubling the size of the book. English version available. (Book: Editora 34)
	Uma estratégia de desenvolvimento com estabilidade 2001. With Yoshiaki Nakano. A critique of economic policy since 1995. A critique of the policy on the basic interest rate, which caused a major debate in Brazil. Spanish version available. (Paper/document: Revista de Economia Política, July 2002).*
	Incompetência e confidence building por trás de 20 anos de quase estagnação da América Latina 2001. Incompetence and subordination to the North characterized Latin American economic policies since the early 1980s'. English version available. (Paper: Revista de Economia Política) *
	Latin America’s quasi-stagnation 2001. Incompetence and subordination to the North characterized Latin American economic policies since the early 1980s'. Portuguese version available with the original title of the paper, "Incompetência e confidence building por trás de 30 anos de quase-estagnação da América Latina". (Paper in book edited by Paul Davidson).
	As três formas de desvalorização cambial 1997. An disguised (because I was part of the Cardoso administration) critique of exchange rate policy adopted by Brazil after the Real Plan. (Paper in Revista de Economia Política). *
	A fragilidade que nasce da dependência da poupança externa 2001 The strategy of growth with foreign savings is an economic non-sense. My short original critque to this mistaken strateg.(Valor 1000, 2001).

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