Formacao de capital e transferencia de recursos ao exterior

In: Brazilian journal of political economy: Revista de economia política, Band 7, Heft 1, S. 10-28

Abstract

Since 1983 the Brazilian economy is transferring an increasing volume of resources which attained more than 5% of the GDP in the last two years. As a consequence of this external constraint the rate of investment has dropped from 26% of GDP in the 70's to an estimated level of 16% in the last years. This paper, using a standard macroeconomic model, establishes the relationship between alternative rates of transfer of resources, rates of domestic savings and capital output ratio with the target rate of growth of the Brazilian economy