Economia & Energia |
No 42 English Version |
Opinião: Artigo: Distribuição do Potencial Hídrico em uma Bacia Hidrográfica Tese: A Produtividade do Capital no Brasil de 1950 a 2002
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Tese: A Produtividade do Capital no Brasil de 1950 a 2002
Aumara Feu Nome do Autor: Aumara Bastos Feu Alvim de Souza Orientador: Maurício Barata de Paula Pinto Departamento de Economia da Universidade de Brasília Data da defesa: 02/12/2003
Resumo
Banca Examinadora formada pelos Professores Doutores: Maurício Barata de Paula Pinto (Orientador) - da UNB Joaquim P. de Andrade - da UNB José Roberto Novaes de Almeida - da UNB Carlos Eugênio Ellery da Costa - da FGV Tito Belchior Silva Moreira - da UNB Menção: A tese recebeu, por unanimidade da banca, a menção máxima “aprovada com louvor” Abstract This study aims at analyzing the capital productivity in Brazil, its historical behavior and influence on the future development of the country. Chapter 1 inserts in the Solow-Swan basic model the possibility of varying depreciation with time according to the composition and behavior of investments in the past. With this modification, the capital dynamics is closer to reality, that is, depreciation becomes dependent on the capital age, making it possible to evaluate how shocks in the capital lifetime affect the behavior of the capital stock and consequently that of the product. This treatment is coherent with the methodology - method of perpetual stock, used in Chapter 2, where the capital stock series of the OECD countries and of some Latin American ones are calculated. It is observed that in the second half of the last century the capital productivity decreased in most of the analyzed countries results from both the more capital-intensive character of the activities on the average and the re-allocation of the product to capital-intensive activities. In what concerns Brazil, the capital productivity has decreased considerably, reaching the average level observed in the OECD countries, in spite of the fact that the average output per worker in Brazil is one third of the value in those countries. Finally, in Chapter 3, after removing from the Brazilian capital/product ratio series (inverse of the capital productivity) the influence of variations on the installed capacity, it was verified that, with a smaller capital productivity plateau, Brazil has a limited capacity of convergence to the same income level of the developed countries as well as of remunerating the capital, which might cause the present low investment level in the country. Therefore, the study shows that increasing the capital productivity could be the path to increase the sustainable growth of the country. Key Words: Capital, productivity, growth
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Graphic Edition/Edição Gráfica: |
Revised/Revisado:
Friday, 19 March 2004. |