The Real Plan and the Brazilian agriculture: perspectives

Fernando Homem de Melo ()

Brazilian Journal of Political Economy, 1999, vol. 19, issue 4, 718-728

Abstract: This paper reviews the effects of Plano Real’s macroeconomic policies on agricultureand discusses the new perspectives open after the strong devaluation of our currency inJanuary 1999. Brazilian agriculture was severely affected by the combination of high interestrates – overvalued exchange rate. In addition, it has had to face the problems of excessivereduction in import tariffs, of financed imports and of low economic growth rates in recentyears. Some favorable changes in international trade offset, at least partially, the problem ofcurrency overvaluation. Brazil has always been recognized as having a strong comparativeadvantage in agriculture. The devaluation which occurred, beginning in January 1999, opensbetter perspectives for the country to exploit its competitiveness in international markets. JEL Classification: Q14; Q17; E42.

Keywords: Real Plan; stabilization programs; agriculture; economic growth (search for similar items in EconPapers)
Date: 1999
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