Why Brazil has not grown: a comparative analysis of Brazilian and Chinese economic management
Fernando Ferrari-filho () and
Anthony Spanakos ()
Authors registered in the RePEc Author Service: Fernando Ferrari Filho ()
Ensayos de Economía from Universidad Nacional de Colombia Sede Medellín
This paper aims to answer a very basic question asked by not only Brazilians, but people in other developing countries where liberal reform agendas were oversold, namely: why has China grown so rapidly and Brazil not. The first section establishes the basis for comparison between China and Brazil by contextualizing these countries within the BRICs concept. The second section aims at a partial explanation by surveying the results of a generation of Washington Consensus era growth. Given the agnosticism about total liberal packages and the puzzle of why incomplete reformers grew better, the paper engages in a comparative analysis of Brazilian and Chinese reforms focusing only on the issue of macroeconomic policy, especially the monetary and exchange rate regimes, and its effect on growth in the third section. That is, the Brazilian experience with inflation targeting and flexible exchange rate regime, since 1999, has contributed to slow start-stop growth and has been relatively high inflation, while the more managed approaches favored by China have done the reverse. Finally, the paper concludes offering policy advice to the other developing countries, BRICs, N-11, or otherwise.
Keywords: Key words: China; Brazil; economic policy; economic growth (search for similar items in EconPapers)
JEL-codes: E44 F43 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://humanas.medellin.unal.edu.co/sites/default/ ... nomic_management.pdf
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to humanas.medellin.unal.edu.co:80 (No such host is known. )
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:col:000418:008063
Access Statistics for this paper
More papers in Ensayos de Economía from Universidad Nacional de Colombia Sede Medellín
Bibliographic data for series maintained by Universidad Nacional de Medellín ( this e-mail address is bad, please contact ).