Finance-Led Growth Regime no Brasil: estatuto teórico, evidências empíricas e consequências macroecon？micas

this paper analyzes the brazilian growth pattern during the post-liberalization period, emphasizing the structural links between finance and productive capital accumulation. the results indicate a finance-led growth regime in the period 2004-2008, under a very specific financialization process. the first part is a survey of the international literature, which defines the financialization concept and its relevance for understanding brazilian economic problems. the next part provides a historical overview on the structural changes that made possible the development of financial-led regimes. the paper also applies an empirical analysis of some selected brazilian macroeconomic indicators.