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      Capital Accumulation in the Center and Semiperipheries: A Comparative Analysis of the US, Spain, and Brazil

      research-article
      World Review of Political Economy
      Pluto Journals
      capital accumulation, productivity, profit rate, underdevelopment
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            Abstract

            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.

            Content

            Author and article information

            Journal
            10.2307/j50005553
            worlrevipoliecon
            World Review of Political Economy
            Pluto Journals
            2042-891X
            2042-8928
            1 December 2020
            : 11
            : 4 ( doiID: 10.13169/worlrevipoliecon.11.issue-4 )
            : 476-505
            Article
            worlrevipoliecon.11.4.0476
            10.13169/worlrevipoliecon.11.4.0476
            3cd1b0f7-5876-49e9-afbf-9c58d96e307d
            © 2020 World Association for Political Economy

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            Custom metadata
            eng

            Political economics
            profit rate,underdevelopment,productivity,capital accumulation

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