This paper aims to make a contribution to modeling monetary rules in open developing economies, in a context in which international capital flows are a force that has a decisive influence on the sustainable combination of the real exchange rate (RER) and the inflation rate. The intended...

A key question with a long tradition in development economics is which patterns of structural change are more conducive for economic growth and convergence in the international economy. Although some studies show that industry has been loosing ground in the Brazilian economy (both in terms of...

The paper offers a time-series test of Thirlwall's Law for Brazil during the 1890-1973 period. The results confirm the existence of a long-run relationship between Brazilian gross domestic product (GDP), terms-of-trade, and world income, as Thirlwall's Law predicts. In addition, an error...

This paper discusses the empirical evidence on deindustrialization in Brazil, which is compared with the case of Parana. The study suggests that the participation of industry has fallen in Brazil, and discusses the implications of this trend for long run growth. On the other hand, a different...