Capital Accumulation in the Center and Semiperipheries: A Comparative Analysis of the US, Spain, and Brazil
<p class="first" id="d367229e88">This paper presents a comparative analysis of capital accumulation in the US, Spain, and Brazil from 1990 to 2014, in order to analyze the peculiarities of the main contemporary economy (US), a developed one with a pe...
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| Format: | Article |
| Language: | English |
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Pluto Journals
2020-11-01
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| Series: | World Review of Political Economy |
| Online Access: | https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.11.4.0476 |
| Summary: | <p class="first" id="d367229e88">This paper presents a comparative analysis of capital accumulation in the US, Spain,
and Brazil from 1990 to 2014, in order to analyze the peculiarities of the main contemporary
economy (US), a developed one with a peripheral integration into the Eurozone (Spain),
and a semiperipheral economy within a backward region (Brazil). This period is highlighted,
especially for Spain and Brazil, by a neoliberal turn and certain monetary stability.
Taking the US economy as a reference, Brazil achieved a higher average gDP and investment
growth, but its capital-output ratio shows a relative high level. This economy also
suffers from less capacity to produce a surplus in US dollars, and its productivity
gap widens. In the case of Spain, its real-estate speculative boom has driven down
both the profit rate and the productive efficiency of capital stock. Thus, while lacking
an outstanding performance, the USA has kept its productive superiority in relation
to Spain and Brazil.
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| ISSN: | 2042-891X 2042-8928 |