EMVA 1.0 - Amostra de 48 empresas

This research uses accounting data from a sample of 48 companies listed on B3 and the Ibovespa indicator to develop the reproduction schemes of the Brazilian economy between 2010 and 2021. The objective is to analyze the evolution of the condition of intersectoral balance and its relation with the variation in the average rate of profit in the period. An increase in intersectoral disproportion was observed between the companies in the sample, in addition to a drop in the average rate of profit in the years 2010 to 2015. Between 2016 and 2021, the relation between the two series seems to change. In particular, between 2016 and 2017, there was a recovery in the average rate of profit with an increase in intersectoral disproportion. Among the hypotheses that help to explain this behavior in the dynamics of the expanded reproduction of the sample of companies are: 1) the reduction in the constant capital of the companies in the sector of production of means of production, 2) the increase in the average rate of surplus value and 3) the advance of deforestation as a way of partially compensating for the increase in intersectoral disproportion. This last hypothesis seems to be associated with a process of self-colonization of the national territory, which would indicate a way in which it would be possible in the Brazilian economy for the increase in intersectoral disproportion and the increase in the average rate of profit to be compatible.

本研究选取巴西证券交易所（B3）上市的48家公司的会计数据与圣保罗证交所指数（Ibovespa）作为样本，构建2010至2021年间巴西经济的再生产图式。本研究旨在分析该时期内部门间均衡状态的演化轨迹，及其与平均利润率变动的关联。研究观测到，样本企业间的部门间非均衡程度有所提升，且2010至2015年间平均利润率出现下滑。2016至2021年间，二者的关联关系似乎发生了变化。具体而言，2016至2017年，平均利润率出现回升，而部门间非均衡程度同步走高。可用于解释该样本企业扩大再生产动态特征的假说包括：1）生产资料生产部门企业的不变资本缩减；2）平均剩余价值率提升；3）以推进森林砍伐为手段，部分抵消部门间非均衡程度的上升。最后一项假说似乎与本国领土的自我殖民化进程相关，这表明巴西经济中，部门间非均衡程度提升与平均利润率上涨具备兼容性的实现路径。