Although the improvement accomplished in the external accounts and the Brazilian economic growth in recent years, it would be incorrect to conclude that the external restriction is not important to determine the economic growth rate in longer periods of time. The maintenance of the Brazilian...

This paper discusses how Prebisch and Fajnzylber, two authors representative of the thought of the Economic Commission for Latin America (ECLA), interpreted the industrialization crisis experienced by many Latin American countries beginning in the mid-seventies. The focus of the paper is on the...