The role of fiscal and monetary policies in the Brazilian economy: Understanding recent institutional reforms and economic changes

José Roberto Afonso, Eliane Araujo and Bernardo Guelber Fajardo

The Quarterly Review of Economics and Finance, 2016, vol. 62, issue C, 41-55

Abstract: Monetary and fiscal institutions have played a decisive role in the stabilisation of the Brazilian economy since the mid-1990s. In Brazil institutional reforms were predominantly made in response to a succession of internal and, particularly, external crises. Brazil's experience of designing and managing institutions to this end is likely to be of interest to other emerging and low- or middle-income economies. As such, the Brazilian experience offers many lessons to be learned, both in the sense of what could be done and what is better avoided.

Keywords: Fiscal policy; Monetary policy; Brazilian economy; Macroeconomic stability; Inflation; Fiscal responsibility (search for similar items in EconPapers)
JEL-codes: E5 E6 O1 O5 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:62:y:2016:i:c:p:41-55

DOI: 10.1016/j.qref.2016.07.005

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