Limits of VoC and institutional complementarities in the semi-periphery: comparative analysis of reforms in Brazil and India

Carlos Henrique Vieira Santana

Resumo


In VoC theories, adopted in OECD countries, the state does not fulfill an important role in the productive system. On the other hand, by analyzing the trajectory of the semi-periphery countries, there is no way to describe the mechanisms of institutional complementarity without holding the state in the center of the model. That’s the trajectories of Brazil and India. To evaluate the role of the state as a strategic actor in semiperipheral institutional complementarity this proposal suggests analyze the role of the state in the commanding heights of economic liberalization. In particular, the role of public banks and pension funds as anti-cyclical and coordinators actors of the new corporate ownership restructuring and external insertion adopted by large conglomerates in Brasil and India in the past ten years. Understanding this is crucial to point out the limits of theories of varieties of capitalism, providing assistance to expand its analytical scope.


Palavras-chave


Varieties of Capitalism; Brazil; India; Institutional Complementarities; Semi-Periphery

Texto completo:

PDF

Referências


AGUILERA, RUTH and GREGORY JACKSON. (2003) The Cross-National Diversity of Corporate Governance: Dimensions and Determinants. Academy of Management Review, 28(3): 447-465

ALMEIDA, MANSUETO (2009) Desafios da Real Política Industrial Brasileira do Sec. XXI, Brasília: Texto para Discussão n. 1452, IPEA

ALLEN, FRANKLIN ET AL (2012) Financing firms in India, Journal Finan. Intermediation, 21; 409–445

ARBIX, GLAUCO e SCOTT MARTIN (2010) “Beyond Developmentalism and Market Fundamentalism in Brazil: Inclusionary State Activism without Statism”, Workshop on States, Development, and Global Governance, Global Legal Studies Center and the WAGE, University of Wisconsin-Madison,

ASHER, MUKUL and AMARENDU NANDY (2006) Reforming provident and pension fund regulation in India, Journal of Financial Regulation and Compliance, Vol. 14 Iss: 3 pp. 273 - 284

ASHRAF, IMAM (2011) Pension Fund Management in India: government role and regulatory issues, Zenith - International Journal of Multidisciplinary Research, Vol.1, Issue 7, November

BAN, CORNEL (2013), Brazil’s Liberal Neo-Developmentalism: New Paradigm or Edited Orthodoxy? Review of International Political Economy, Volume 20, Issue 2

BANAJI, JAIRUS (2001) “Corporate Governane and the Indian Private Sector”, Queen Elizabeth House Working Paper Series, Oxford University, May

BANERJEE, ABHIJIT; SHAWN COLE; and ESTHER DUFLO (2004) Banking Reform in India, India Policy Forum, 1:277-323

BARBOSA, NELSON (2010) Latin America: Counter-Cyclical Policy in Brazil: 2008-09, Journal of Globalization and Development, Volume 1, Issue 1

BARDHAN, PRANAB (2010) Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India, Princeton University Press

CALLON, MICHEL (2007) What does it mean to say that economics is performative? Do Economists Make Markets? On the Performativity of Economics, Princeton University Press

CHAKRABARTI, RAJESH; WILLIAM MEGGINSON; and PRADEEP K. YADAV (2008) Corporate

Governance in India, Journal of Applied Corporate Finance, Vol. 20, Issue 1, pp. 59-72

CIOFFI, JOHN and MARTIN HÖPNER (2006) The Political Paradox of Finance Capitalism: Interests, Preferences, and Center-Left Party Politics in Corporate Governance Reform, Politics & Society, 34; 463-502

CLARK, GORDON (2000) Pension Fund Capitalism, Oxford University Press

D’COSTA, ANTHONY (2003) Uneven and Combined Development: Understanding India’s Software Exports, World Development Vol. 31, No. 1, pp. 211–226

DE PAULA, GERMANO; JOÃO CARLOS FERRAZ; and MARIANA IOOTTY (2002) Economic

Liberalization and changes in corporate control in Latin America, The Developing Economies, v. 40, n. 4

EVANS, PETER (1979) Dependent Development: The Alliance of Multinational, State, and Local Capital in Brazil, Princeton University Press

GHOSH, JAYATI (2011) The Challenge of Ensuring full employment in the twenty-first century, The Indian Journal of Labour Economics, vol 54. N. 1

GOSWAMI, OMKAR (2001), “India - The Tide Rises, Slowly”, Corporate Governance in Development: The Experiences of Brazil, Chile, India, and South Africa, OECD Development Centre

GORGA, ERICA (2006) Culture and Corporate Law Reform: A Case Study of Brazil, Journal of International Economic Law, Vol. 27, No. 3 (University of Pennsylvania)

GRÜN, ROBERTO (2007) Decifra-me ou te devoro! As finanças e a sociedade brasileira, MANA –

Estudos de Antropologia Social, v 13, n. 2, pp. 381-410

HALL, PETER and DAVID SOSKICE (eds) (2001) Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford University Press

HO, KAREN (2009) Liquidated – an ethnography of Wall Street, Durham/London: Duke University Press

JARDIM, MARIA CHAVES (2007) Entre a Solidariedade e o risco: Sindicatos e fundos de pensão em tempos de governo Lula, (Tese de Doutorado) Programa de Pós-Graduação em Ciências Sociais UFSCar

KURTZ, MARCUS and SARAH BROOKS (2008) Embedding Neoliberal Reform Latin America, World Politics, 60 (January), 231–80

LA PORTA, R.; F. LOPEZ-DE-SILANES, and A. SHLEIFER (1999). Corporate Ownership Around the World, Journal of Finance 54, 471-517

LAZZARINI, SERGIO (2011) Capitalismo de Laços: os Donos do Brasil e suas Conexões, Rio de Janeiro: Campus

MAZUMDAR, DIPAK and SANDIP SARKAR (2008) Globalization, Labor Markets and Inequality in India, Routledge

METTENHEIM, KURT VON (2010) Federal Banking in Brazil: Policies and Competitive Advantages, Pickering & Chatto Ltd

MACKENZIE, DONALD (2006) An Engine, Not A Camera: How Financial Models Shape Markets, MIT Press

NAIB, SUDHIR (2004) Disinvestment in India – policies, procedures, practices, Sage Publications

NAYAR, BALDEV (2009) The Myth of the Shrinking State - Globalization and the State in India, New Delhi: Oxford University Press

PANAGARIYA, ARVIND (2008) India: The Emerging Giant, Oxford University Press

RAJAN, RAGHURAM and LUIGI ZINGALES (2003) The great reversals: the politics of financial development in the twentieth century, Journal of Financial Economics, 69: 5–50

REED, ANANYA MUKHERJEE (2002) Corporate Governance Reforms in India, Journal of Business Ethics, 37: 249–268

RODRIK, DANI (2004) “Industrial Policy for the Twenty-First Century”, Working Paper Series rwp04-047, Harvard University, John F. Kennedy School of Government

SANTANA, CARLOS HENRIQUE (2012) “Trajetórias de reformas e mudanças institucionais na semiperiferia: abertura financeira e capacidades estatais no Brasil e Índia”, (Tese de Doutorado em Ciência Política), Instituto de Estudos Sociais e Políticos da Universidade Estadual do Rio de Janeiro (IESP/UERJ)

STALLINGS, BARBARA and ROGERIO STUDART (2006) Finance for development: Latin America in comparative perspective. Washington: Brookings Institution Press/CEPAL

SCHAPIRO, MARIO (2010) Development Bank, Law and Innovation Financing in a New Brazilian Economy, The Law and Development Review, Manuscript 1045

SARKAR, JAYATI and SUBRATA SARKAR (2008) Debt and corporate governance in emerging economies: Evidence from India, Economics of Transition, Vol 16(2), 293–334

SCHNEIDER, BEN ROSS (2009a) Hierarchical Market Economies and Varieties of Capitalism in Latin America, Journal of Latin American Studies 41, 553–575

SCHNEIDER, BEN ROSS (2009b) A comparative political economy of diversified business groups, or how states organize big business, Review of International Political Economy, 16: 2, 178-201

SCHNEIDER, BEN ROSS (2008) Economic Liberalization and Corporate Governance : The Resilience of Business Groups in Latin America, Comparative Politics, vol. 40, no. 4, pp. 379–98

SOM, LALITA (2006) Stock Market Capitalization and Corporate Governance in India, Oxford University Press

STREECK, WOLFGANG (2012) Citizens as Customers – Considerations on the New Politics of Consumption, New Left Review 76, July-August.


Apontamentos

  • Não há apontamentos.


Licença Creative Commons
Esta obra está licenciada sob uma licença Creative Commons Atribuição 4.0 Internacional.