Before the Depression: Brazilian Industry in the 1920s

  • Flavio Rabelo Versiani
Part of the St Antony’s Series book series (STANTS)


The literature on the economics of the Depression in Brazil may be said to have passed through three stages. Initially, the classical ECLA-Furtado theory on the positive effects of the slump on the diversification of Brazilian productive structure reigned supreme (Furtado, 1959, chaps. xxx–xxxiii). The theory was influential not only in the field of economics, but was also widely used as a basis for sociological and political analyses of the period. A radical generalisation of that vision has been presented as part of the ‘dependencia’ theory of Latin American underdevelopment (Frank, 1969).


Exchange Rate Cotton Textile Import Price Industrial Output Repair Shop 
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© St Antony’s College, Oxford 1984

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  • Flavio Rabelo Versiani

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