Structural Change, Technology, and Economic Growth
Brazil and the CIBS in a Comparative Perspective
Schumepterian growth theory stresses the role of structural change in long run growth. Countries which increase the share of technology-intensive sectors in their economic structures benefit more from technological learning and innovation. In addition, they are more able to respond to changes in the international markets and to enter in sectors whose demand grows at higher rates. The paper compares Brazil and the CIBS from the point of view of the direction and intensity of structural change. It is suggested that structural change has been relatively weak in Brazil and that this is associated with a less dynamic growth performance since the 1980s.