Eduardo Strachman - Academia.edu (original) (raw)

Papers by Eduardo Strachman

História e Economia, 2008

Brazilian Journal of Political Economy, 2000

RESUMO Este artigo analisa alguns aspectos importantes que são considerados no processo capitalis... more RESUMO Este artigo analisa alguns aspectos importantes que são considerados no processo capitalista de cálculo usado nas decisões de investimento. As bases para esta análise são a argumentação apresentada no quinto capítulo da tese de doutorado de Sílvia Possas (1993). Também são apresentadas algumas reflexões sobre esses argumentos e de pós-keynesianos distintos, pois Possas negligenciou alguns pontos importantes na discussão que ela fez neste capítulo que reelabora alguns raciocínios de Keynes (1936) e desses pós-keynesianos.

DOAJ (DOAJ: Directory of Open Access Journals), Oct 1, 2016

Autores, entre eles Kregel (1996) e Laplane e Sarti (2002) passaram a questionar se o fluxo de ID... more Autores, entre eles Kregel (1996) e Laplane e Sarti (2002) passaram a questionar se o fluxo de IDE pode ser um limitador ao crescimento economico, a partir de uma analise do Balanco de Pagamentos. Ou seja, caso fosse estancado o fluxo de IDE e mantida a saida de capital proviniente deste IDE em periodos anteriores, poderia haver uma restricao ao crescimento, a partir do setor externo. O objetivo desse trabalho e identificar se ha relacao entre o investimento direto estrangeiro (IDE) e o crescimento de longo prazo, no periodo entre 1994 e 2008. Fez-se um levantamento das teorias acerca do tema, com uma modificacao na abordagem proposta por Lima e Carvalho (2009).

A feitura de uma tese depende, em muitas etapas, de mais do que somente uma pessoa. Por isto, gos... more A feitura de uma tese depende, em muitas etapas, de mais do que somente uma pessoa. Por isto, gostaria de agradecer às pessoas que me auxiliaram na sua realização:

Cadernos CEPEC

This article briefly shows the responses of some developed and emerging countries to the financia... more This article briefly shows the responses of some developed and emerging countries to the financial crisis of 2007-2008, whose reflections are still felt nowadays. We stressed the first quite radical and fast responses to what could be, perhaps, a crisis worse than that of the 1930's, after the initial extremely poor policy choice from the then US Secretary of the Treasury, "Hank" Paulson, and the Chairman of the Federal Reserve, Ben Bernanke. Most developed countries as well as developing ones made broad recourse both to quite heterodox monetary and fiscal policies, until more or less the mid-2010, when there was a sudden U-Turn in those policies. We detailed some of these policies in the UK, USA, Continental Europe and Brazil, emphasizing their very bad results, totally in disagreement with the theory behind them and, thus, with the predictions (Blyth, 2013). Notwithstanding, most of those countries keep this kind of policies until now, with some important exceptions, such as Iceland, Portugal and Spain, which, not coincidentally, started to grow economically and to decrease their unemployment rates.

Economia Ensaios, Nov 11, 2022

Mecanismos de transmissão das políticas monetárias: uma investigação sobre ação e efeitos Monetar... more Mecanismos de transmissão das políticas monetárias: uma investigação sobre ação e efeitos Monetary Policy Transmission Mechanisms: an investigation into action and effects Eduardo Strachman a Resumo: O artigo busca compreender os mecanismos de transmissão da política monetária e se resultam nos efeitos desejados. Definimos e detalhamos os mecanismos de transmissão da política monetária. Mostramos mudanças recentes no conhecimento sobre economia monetária. Salientamos que Bancos Centrais (BC) modernos determinam juros como mecanismo fundamental de política monetária, em vez de metas para agregados monetários. Esclarecemos os canais através dos quais a política monetária se transmite e expomos a efetividade diferenciada dos mecanismos de transmissão da política monetária, conforme a fase do ciclo, investigando os impactos e a endogeneidade aos ciclos dos riscos, não conduzindo a qualquer ótimo.

The article aspires to understand the monetary policy transmission mechanisms and whether they re... more The article aspires to understand the monetary policy transmission mechanisms and whether they result in the aimed effects. We define and detail these monetary policy transmission mechanisms, showing some recent changes in monetary economics. We emphasize that modern CBs use interests as their fundamental mechanism for monetary policies, instead of goals for some monetary aggregates. We clarify the transmission channels of monetary policies, exposing the differentiated effectiveness of the monetary policy transmission mechanisms, according to the phase of the business cycle, analyzing impacts and endogeneity of risks in relation to these phases, without leading to an optimum

Economia e Sociedade, 2007

Este artigo avalia os resultados do processo de reestruturação da indústria brasileira de máquina... more Este artigo avalia os resultados do processo de reestruturação da indústria brasileira de máquinas têxteis, originado pelas reformas econômicas liberalizantes iniciadas no final dos anos 1980 e início dos 1990 e pelas medidas macroeconômicas que deram sustentação ao Plano Real, a partir de julho de 1994. Inicialmente, fazemos uma avaliação teórica das fontes do conhecimento e das formas de capacitação tecnológica nessa indústria. A seguir, expomos brevemente as principais características da indústria de máquinas têxteis em âmbito global. Posteriormente, direcionando a discussão para o caso brasileiro, apresentamos as especificidades da indústria têxtil, usuária daqueles bens, e do próprio setor de máquinas nacional. Através dos fluxos de comércio exterior do Brasil entre 1990 e 2004 e da variação do valor médio (US$ FOB/KG) desses fluxos, o artigo examina as mudanças estruturais, tecnológicas e, por conseguinte, na competitividade, que culminaram na transformação da indústria brasil...

Revista de Economia Mackenzie, 2021

Nova Economia, 2003

nova Economia_Belo Horizonte_13 (1)_101-140_janeiro-junho de 2003 Liberalização e desregulamentaç... more nova Economia_Belo Horizonte_13 (1)_101-140_janeiro-junho de 2003 Liberalização e desregulamentação bancária 102 nova Economia_Belo Horizonte_13 (1)_101-140_janeiro-junho de 2003 Liberalização e desregulamentação bancária

The influences of financialisation over emerging economies have drawn significant attention on wh... more The influences of financialisation over emerging economies have drawn significant attention on whether these nations are able or not to overcome its constraints and promote satisfactory development levels. The possibilities for overcoming financial dominance, however, deserve further attention on what concerns its structural causes and policy alternatives. This article has two objectives. First, it formalises three key characteristics behind the financialisation of developing economies, focusing on some key elements that differentiate financialisation in developed versus emerging economies: interest rate behaviour; exchange rate volatility and balance of payments dominance. Secondly, it discusses some strategies for developing countries to overcome the effects of financialisation based on the hypothesis of increasing policy space, which allows these economies to retain autonomy on their macroeconomic policies and to conduct domestic policies in an integrated scenario

Revista Economia Ensaios, Oct 27, 2017

PSL Quarterly Review, 2019

The aim of this work is to identify whether there was a relationship between foreign direct inves... more The aim of this work is to identify whether there was a relationship between foreign direct investment (FDI) and long-term growth in Latin America from 1990 to 2014. Some authors have questioned whether FDI and other capital flows, besides current account results, could constrain economic growth. If FDI and other capital flows are staunched and this is accompanied by capital outflows originated from FDI in previous periods, then it would be possible to experience a balance of payments constraint to economic growth. To test this hypothesis, we slightly amend the Thirlwall and Hussain model and employ the McCombie test for the cases of Brazil, Mexico, and Argentina. We find that the negative effect of primary income remittances on FDI, and even capital inflows through FDI, may curbs growth in the long run. JEL codes : E12

Discourse Analysis and Austerity, 2019

Oobjetivo deste artigo e apresentar uma breve introducao a teoria das organizacoes, dentro de um ... more Oobjetivo deste artigo e apresentar uma breve introducao a teoria das organizacoes, dentro de um arcabouco institucionalista. Diferentemente da maior parte da literatura economica que procura tratar das organizacoes, neste artigo procura-se analisar as organizacoes como um todo, incluindo-se tambem, portanto, as organizacoes nao economicas, apesar da maior concentracao naquelas mais conectadas a economia. Isto porque a maioria dos escritos sobre economia que tratam das organizacoes se restringem as organizacoes empresariais, no maximo com breves pinceladas pelas menos diretamente ligadas a economia. O intento e realizar uma analise mais abrangente e institucionalista das organizacoes, ao mesmo tempo em que se procura aproximar todo este conjunto dos estudos de economia industrial. Com isso, podem-se estudar as organizacoes sob estas varias oticas e seus respectivos corpos teoricos, quais sejam, os de economia institucional, economia industrial e teoria das organizacoes, principalmen...

When the world economy is in an upswing, international liquidity expands and thereby also capital... more When the world economy is in an upswing, international liquidity expands and thereby also capital flows toward the peripheral countries. However, when these countries engage in speculative finance, they become vulnerable because a change in expectations can generate anoutflow of capital, causing a crisis and also seizures (or at least this last measure is feared by many agents of those indebted countries, as was seen during the debt crisis of the 1980s and also in some recent seizures of Argentinian assets, in the USA). This unstable process is consistent with theMinskian (1977) hypothesis of financial instability, applied to an economic open environment.Empirically, in the 1990s there was an expansion of international liquidity and the reintegration of Latin America in the international financial system, especially after the Brady Plan. Several countries in the region have then resorted to external financing. However, from the Mexican crisis of 1995 on, capital flows consisted main...

This paper analyzes the small and medium armored combat vehicle industry, in order to understand ... more This paper analyzes the small and medium armored combat vehicle industry, in order to understand its modus operandi. We investigate the former largest Brazilian producer of small and medium armored combat vehicles, Engesa, and concluded that its world success was a result both of its privileged perception to occupy a market niche and of the special relationship among its CEO and the Brazilian Army. A combination of negative factors conduced the firm to its bankruptcy, in the beginning of the 1990s, but we also identified a huge business potential, which could be either occupied by Engesa, if it had not disappeared, or by a follower in this market. Key words: Industrial Economics, Industrial Policy, Armaments Industry Classificacao JEL: L22; L25; L52; L64; O24 Artigo recebido em mar. 2009 e aceito para publicacao em jan. 2010.

In a period of harsh political-economic crisis, in Brazil, and in which several interpretations o... more In a period of harsh political-economic crisis, in Brazil, and in which several interpretations of their causes emerge, this paper tries to explain these turbulences considering their deeper long run roots and developments, presenting a retrospective of the associated and subordinated evolution essential to the conduction of many of the main events which the Brazilian economy encountered, in the time range analyzed. This range is divided in shorter periods which we consider clear, in terms of some inflexions that explain, in a general and fundamental framework – emphasizing the behavior of the primary, secondary and tertiary macro-sectors – the evolution and important changes of the national economy. We begin explaining the period 1930-60, of high economic and industrial growth without any major interruption. In the third section, we analyze the period 1961-80, also of high growth, but with a mild inflexion in the beginning of the 1960’s, followed by the so-called Brazilian miracle ...

Over the last two decades, almost all countries in the world have experienced a noticeable proces... more Over the last two decades, almost all countries in the world have experienced a noticeable process of liberalization and deregulation. This process has both motivated and propelled changes in the very competitive dynamics of the banking industry. Therefore, various OECD countries have changed their regulatory/prudential practices concerning the banking market, in order to make them more suitable to the new competitive environment. Conversely, liberalization and deregulation in developing countries have often been started and deepened without any prior effort to strengthen and/or change the banking regulatory arrangements. The aim of this paper is to outline some features of such a process, by underlining some of the observed outcomes in the countries where it has gone further as well as the necessary adaptations for the banking regulation policy.