The political economy of the Brazilian model of agricultural development: Institutions versus sectoral policy

Bernardo Mueller and Charles Mueller

The Quarterly Review of Economics and Finance, 2016, vol. 62, issue C, 12-20

Abstract: This paper analyzes the transition of Brazilian agriculture from low productivity and backwardness to its current status as a major player in international markets. Long-term investment in local agricultural technology was a crucial determinant of this transformation, but the impact of agricultural policy along this path was highly convoluted, often causing more distortions than progress. We highlight the importance of the underlying institutional setting on the impact of agricultural policy. The remarkable transformation in Brazilian agriculture only really emerged when inclusive and sustainable institutions created a fiscal, monetary and political environment in which those policies could succeed.

Keywords: 15.005: O5 – Economywide Country Studies; 17.001: Q1 – Agriculture; Agricultural development; Agricultural research; Brazilian agriculture; EMBRAPA (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:62:y:2016:i:c:p:12-20

DOI: 10.1016/j.qref.2016.07.012

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