1 Introduction Labor productivity, understood as the value of output produced per unit of labor input, is a crucial long-run determinant of workers’ real wages. Ultimately, workers cannot sustainably earn more value than they create. Neoclassical economic theory formalizes this notion in its assertion that a worker’s wage is equivalent to the marginal product of her labor, that is, her productivity ( ). Nevertheless, labor productivity and wage dynamics often diverge substantially in practice, due to a range of institutional and market forces, and this divergence can have important implications for a country’s economic development.

When real wages lag behind productivity growth, the distribution of income between capital and labor shifts in favor of capital, potentially worsening income inequality and depressing aggregate demand. When wage growth exceeds productivity growth, export competitiveness and investment may suffer ( ).

Calatoria crestinului pdf reader. In light of the theoretical importance of labor productivity to wage growth and economic development, this study examines the relation between productivity and wages in Brazil between 1996 and 2014. This time period encompasses two distinct stages in Brazil’s recent economic trajectory: the movement towards liberalization and market-oriented reforms that characterized the late 1990s, and the commodity boom and expansion of pro-social reforms of the 2000s. The first stage is characterized by stagnation in productivity and real wages, while the second stage is marked by modest growth in productivity and significant growth of real wages (; ). Importantly, these overall trends disguise broad variation in productivity and wage growth at the sectoral level. Some areas of Brazil’s economy, such as industry, have seen low growth in productivity, losses in competitiveness, and shrinking representation in national GDP (; ). Other areas, such as agriculture, have experienced rapid productivity growth and substantial wage gains (; ). These evolving dynamics complicate traditional notions of development via industrialization, and suggest alternative sectoral priorities and strategies ( ).

Motivated by these changing dynamics, this study adopts a sectoral perspective in order to address the following questions: i) to what degree have gains or losses in wages been the result of gains or losses in productivity? Ii) have productivity gains constituted the primary engine of wage growth, or do they pale before institutional or demographic changes? Iii) why do different economic sectors present such varying rates of productivity and wage growth? This sectoral perspective complements previous analyses that examine labor productivity and income in Brazil on a national level ( ).

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