The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Furtado, Celso (1920–2004)

  • Mauro Boianovsky
Reference work entry


Celso Furtado (1920–2004) was one of the most influential Latin American economists of the twentieth century. He was head of the development division of the United Nations Commission for Latin America in the 1950s, where he helped to formulate the structuralist approach to economics. His Formação Economica do Brasil (1959) is the classic interpretation of the economic history of Brazil. In 1961 he published a collection of essays about the notion of underdevelopment and development as interdependent phenomena. Furtado’s last contribution was his careful discussion in the 1970s of the concept of cultural and economic dependence in underdeveloped countries.


Balance of payments constraint Balanced growth Baran, P Big push Brazil Centre–periphery system Dependency theory Furtado, C Gerschenkron, A Import substitution Industrialization Inflation Kaldor, N Latin American development Lewis, W. A Nurkse, R Presbisch, R Robinson, J Rosenstein-Rodan, P Rostow, W Structuralism Surplus Underdevelopment 

JEL Classification

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Mauro Boianovsky
    • 1
  1. 1.