Nature of the state economic expanded functions in the Brazilian economy*

ALMEIDA FILHO, NIEMEYER

doi:10.1590/0101-31572016v36n01a06

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Articles • Rev. Econ. Polit. 36 (1) • Jan-Mar 2016 • https://doi.org/10.1590/0101-31572016v36n01a06 linkcopy

Nature of the state economic expanded functions in the Brazilian economy*

Natureza das funções econômicas alargadas do Estado na economia brasileira

Authorship SCIMAGO INSTITUTIONS RANKINGS

The paper discusses the dynamics of capital accumulation in Latin America economies. The hypothesis is that in these economies the role of the State is comparatively broader than in the economies of the centers of the capitalism by structural reasons. The argument is mainly based on Marx and Kalecki, besides historical elements of Latin America economies, particularly the Brazilian economy. Then the paper explores the dynamics consequences of this nature at the national levels, concluding that this condition gives a higher degree of instability.

KEYWORDS:
development in Latin America economies; role of the State on accumulation; dynamic of accumulation; Brazilian economy

Departments	I	II	III	Total
Profit	P1	P2	P3	P
Wages	W1	W2	W3	W
Income	I	Cc	Cw	Y

Income	The Economy	Economics B	Demand
Total wages	40	55	Workers' Spent	Consumption of workers
Total profits	60	45	Capitalist's Spent	Consumption of the capitalists
Investment
National income	100	100		Domestic product

Items - Year	State (A)	Public Adm. * (B)	Public Sector C = A + B	GFCF IBGE (D)	A / C	A / D
1995	11,446	15,955	27.401	129,297	41.8%	8.9%
1996	12,338	17,054	29,392	142,382	42.0%	8.7%
1997	14,175	16,231	30,406	163,134	46.6%	8.7%
1998	13,124	23,665	36,788	166,174	35.7%	7.9%
1999	8,366	15,274	23,639	166,746	35.4%	5.0%
2000	9,283	21,124	30,406	198,151	30.5%	4.7%
2001	11,212	24,403	35,615	221,772	31.5%	5.1%
2002	16,591	32,520	49,111	242,162	33.8%	6.9%
2003	18,665	26,049	44,714	259,714	41.7%	7.2%
2004	19,695	31,520	51,215	312,516	38.5%	6.3%
2005	21,827	35,133	56,960	349,463	38.3%	6.2%
2006	23,371	46,103	69,474	390,134	33.6%	6.0%

Ranking	Company	Name	Sector	Type	Control	Sales Liquid (In US $ million)
1	Petróleo Brasileiro S.A. - Petrobras	Petrobras	Energy	State-owned	Brazilian	100,694.2
37	Eletropaulo Metropolitana Eletricidade de São Paulo S.A.	Eletropaulo	Energy	Private	Amer. / Brazilian	5387.8
42	Cemig Distribuição S.A.	Cemig Distribuição	Energy	State-owned	Brazilian	4661.7
47	Cooperativa de Produção de Cana-de-Açúcar, Açúcar e Álcool Est SP	Copersucar Cooperativa	Energy	Private	Brazilian	4484.9
56	Furnas Centrais Elétricas S.A.	Eletrobras Furnas	Energy	State-owned	Brazilian	3861.5
60	Itaipu Binacional	Itaipu	Energy	State-owned	Brazilian	3652.2
63	Light Serviços de Eletricidade S.A.	Light SESA	Energy	Private	Brazilian	3564.5
69	Companhia Paulista de Força e Luz - CPFL	CPFL Paulista	Energy	Private	Brazilian	3064.8
73	Copel Distribuição S.A.	Copel	Energy	State-owned	Brazilian	3007.4
76	Companhia Hidro Elétrica do São Francisco - CHESF	Chesf	Energy	State-owned	Brazilian	2803.8

Ranking	Company	Name	Sector	Type	Control	Net Sales (In Us $ Million)
20	Brazilian Post and Telegraph Company	ECT	Services	State-owned	Brazilian	7238.5
36	Basic Sanitation Company of the State of São Paulo	Sabesp	Services	State-owned	Brazilian	5438.1
57	International Medical Assistance	Amil	Services	Private	Brazilian	3729.8
101	Cielo S / A	CIELO	Services	Private	Brazilian	2219.2
115	Brazilian Company of airport infrastructure	Infraero	Services	State-owned	Brazilian	1934.3
131	Minas Gerais Sanitation Company	COPASA MG	Services	State-owned	Brazilian	1758.9
135	Water and Sewage State Company	Cedae	Services	State-owned	Brazilian	1735.0
143	Technology In Capture and Proc. Transactions H.U.A.H. S / A.	GET Net	Sevices	Private	BrazilThe-Uruguay	1670.5
156	Rio Cooperative Work Medical	Unimed Rio	Services	Private	Brazilian	1564.1
162	Redecard SA	Redecard	Services	Private	Brazilian	1518.7

Institutions	Type of capital	Total assets Intermediation	Total Assets
ITAU	Private	834,587,991	901,420,803
BB	State-owned	877,803,258	1046450806
BRADESCO	Private	644,581,228	741,552,351
CEF	State-owned	618,389,559	673,475,813
SANTANDER	Private	436,187,777	453,075,553

	1995	2000	2004	2010
Argentina	..	..	15.28	..
Brazil	..	21.7	22.89	26.7
Chile	..	..	17.93	20.6
Colombia	..	..		25.4
Mexico	12.5	13.1		..
Austria	42.1	39.5	42.34	38.8
Canada	23.5	18.9	17.35	18.8
Denmark	40.8	33.9	33.58	41.1
France	46.1	43.2	44.40	48.3
Germany	37.6	30.8	30.23	31.1
Italy	46.0	37.6	37.14	40.7
Poland	..	..	36.76	35.7
Portugal	36.6	36.4	39.16	43.5
Spain	36.1	30.6	25.46	30.1
Sweden	42.5	34.2	32.34	31.0
United Kingdom	37.8	34.5	37.49	43.2
United States	..	..	20.30	25.9
Venezuela, RB	18.5	21.6	24.71	..
World	..	..	26.48	29.1
OECD members	..	..	27.57	29.8

Per slimes	Variation of real GDP	variation real GDP Manufacturing Industry	Variation of real GFCF	GFCF / GDP
1950-1967				GFCF / GDP
Average	6.23	7.65	7.05	18.34
Standard deviation	2.97	5.21	10.12	1.96
1968-1979				1.96
Average	8.93	9.89	10.81	22.85
Standard deviation	2.91	4.45	7.35	1.61
1980-1989				1.61
Average	3.01	1.89	0.52	18.55
Standard deviation	4.61	7.04	11.97	2.45
1990-2006				2.45
Average	2.27	1.59	1.41	14.58
Standard deviation	2.50	4.96	7.39	1.04

Periods	GFFC by type of investor (% of GDP)				GFFC by productive branch (% Of GDP)
	Public sector (% of GDP)				Private Sector	Sector Public / Total GFCF
	GFFC / GDP (%)	Manages Publiction	Business State	Sector Public Total			Construction	Machine and Equipment
1950-1967							Construction	Machine and Equipment
Average	18.34	4.35	1.22	5.58	12.70	31.07	11.40	6.57
Standard Deviation	1.96	0.71	0.74	1.02	2.56	7.69	1.32	0.82
1968-1979					2.56	7.69	1.32	0.82
Average	22.85	4.21	4.30	8.31	14.68	36.02	13.65	8.83
Standard Deviation	1.61	0.91	1.74	1.74	1.42	6.15	0.95	0.97
1980-1989					1.42	6.15	0.95	0.97
Average	18.55	2.25	2.94	5.19	13.36	27.85	12.51	5.52
Standard Deviation	2.45	0.39	0.96	0.97	1.64	2.64	1.25	1.18
1990-2006					1.64	2.64	1.25	1.18
Average	14.58	2.08	1.14	3.22	11.75	21.64	8.66	5.07
Standard Deviation	1.04	0.47	0.58	O, 93	1.39	6.79	2.00	1.14

Country	Government added value 2007	Government consumption intermediary 2007	TAP Assistance Security 2007	GFFC in 2007	Public Sector Net debt 2008	Net interest paid in 2008
Germany	8.3	4.2	18.4	1.5	45.1	2.3
Belgium	13.4	3.5	17.3	1.6	73.6	3.6
Brazil	13.3	7.0	14.8	1.8	37.6	5.4
Canada will	13.5	8.9	11.0	3.0	21.7	0.2
South Korea	9.4	3.8	3.6	4.9	-37.4	-1.5
Spain	11.9	5.1	12.7	3.8	22.9	1.0
USA	11.5	8.5	12.6	2.6	48.2	1.9
France	15.6	5.0	18.9	3.3	41.9	2.7
Greek	13.1	5.1	17.4	3.0	72.7	4.1
Hungary	14.6	6.7	16.6	3.6	51.3	3.7
Ireland	10.3	5.3	10.3	4.4	11.1	-0.3
Italia	13.0	5.2	18.1	2.3	89.7	4.9
Jap will	9.3	3.3	12.2	3.1	84.3	0.8
Norway	14.1	6.1	14.1	3.1	-125.3	-3.8
Polonies	12.5	6.0	14.8	4.2	20.2	1.9
Portugal	14.6	4.1	16.3	2.3	47.9	3.0
United Kingdom	11.9	11.7	13.4	1.8	33.6	2.0
Sweden	17.8	9.4	16.8	3.1	-13.8	0.5

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[TFN1] Source: Extracted from Kalecki 1977, (p. 1)