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      World Review of Political Economy

      Volume 11, Issue 4
       
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      Capital Accumulation in the Center and Semiperipheries: A Comparative Analysis of the US, Spain, and Brazil

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      Journal: World Review of Political Economy
      Publisher: Pluto Journals
      Keywords: 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.

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            Author and article information

            Journal
            Journal ID (doi): 10.2307/j50005553
            Journal ID (jcode): worlrevipoliecon
            Title: World Review of Political Economy
            Publisher: Pluto Journals
            ISSN: 2042-891X
            ISSN: 2042-8928
            Publication date (Print): 1 December 2020
            Volume: 11
            Issue: 4 ( doiID: 10.13169/worlrevipoliecon.11.issue-4 )
            Pages: 476-505
            Article
            Publisher ID: worlrevipoliecon.11.4.0476
            DOI: 10.13169/worlrevipoliecon.11.4.0476
            SO-VID: 3cd1b0f7-5876-49e9-afbf-9c58d96e307d
            Copyright © © 2020 World Association for Political Economy
            License:

            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/.

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            Custom metadata
            lang eng

            ScienceOpen disciplines: Political economics
            Keywords: profit rate,underdevelopment,productivity,capital accumulation

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