Income distribution and economic growth regime in Brazil: evaluation and propositions

Laís Fernanda de Azevedo (), Pedro Cezar Dutra Fonseca () and Fabricio Missio

Brazilian Journal of Political Economy, 2022, vol. 42, issue 1, 25-47

Abstract: The aim of the article is to empirically analyze the economic growth regimes inBrazil from 2000 to 2015. In theoretical terms, we follow the augmented neo-Kaleckianmodel proposed by Palley (2016). Therefore, we incorporate in the analysis the role of thepersonal and functional distribution of income. In empirical terms, we use a vectorautoregressive model. The results suggest that the growth regime of the Brazilian economywas wage-led. This means that capital accumulation and aggregate demand were favored bypolicies to reduce inequality in the labor market and personal income. Based on the results, we discussed the Brazilian model, arguing in favor of adopting a growth model that canreconcile income distribution and export incentive policies. JEL Classification: C22; D31; D33; E25.

Keywords: Growth regime; income distribution and economic growth in Brazil (search for similar items in EconPapers)
Date: 2022
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