Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-78c5997874-lj6df Total loading time: 0 Render date: 2024-11-13T01:58:35.398Z Has data issue: false hasContentIssue false

4 - The Developmental Hierarchical Market Economy

from Part I - Complementarities in the Economic Sphere

Published online by Cambridge University Press:  04 November 2020

Matthew M. Taylor
Matthew M. Taylor
Affiliation:
American University, Washington DC
Get access

Summary

This chapter analyzes Brazil’s 500 largest firms and financial institutions in the mid-2010s to evaluate how well corporate life fit into a Latin American variety of capitalism that Schneider (2013) termed “hierarchical market capitalism.” While Brazil adhered to the general characteristics of the hierarchical market economy (HME), Brazilian firm life differed from other HMEs in the region due to significant state activity, the presence of large but relatively undiversified business groups, and credit and equity markets with a large dose of state participation that enabled firms to behave and organize in ways that differed from their regional peers. Five characteristics of Brazilian firm life stood out: the segmented firm structure; the muscular influence of developmentalist policy tools on firms; the segmentation of labor markets; the segmentation of skills; and the segmentation of social policy provision. This segmentation had a variety of implications for firms’ incentives to participate in politics.

Keywords

businessfirm organizationhierarchical market capitalismsegmentationlabor marketssocial policyskills
Type
Chapter
Information
Decadent Developmentalism
The Political Economy of Democratic Brazil
 , pp. 90 - 118
Publisher: Cambridge University Press
Print publication year: 2020

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×