Brazil’s 35 years-old quasi-stagnation: facts and theory

Luiz Carlos Bresser-Pereira ()

No 399, Textos para discussão from FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil)

Abstract: Brazil is growing around 1% per capita a year from 1981; this means for a country that is supposed to catch up, quasi-stagnation. Four historical new facts explain why growth was so low after the Real Plan: the reduction of public savings, and three facts that reduce private investments: the end of the unlimited supply of labor, a very high interest rate, and the 1990 dismantling of the mechanism that neutralized the Dutch disease, which represented a major competitive disadvantage for the manufacturing industry. New-developmental theory offers an explanation and two solutions for the problem, but does not underestimate the political economy problems involved.

Date: 2015-08-07
New Economics Papers: this item is included in nep-his and nep-lam
References: Add references at CitEc
Citations:

Downloads: (external link)
https://repositorio.fgv.br/bitstreams/db507fcb-0d3 ... a356df25767/download (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fgv:eesptd:399

Access Statistics for this paper

More papers in Textos para discussão from FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil) Contact information at EDIRC.
Bibliographic data for series maintained by Núcleo de Computação da FGV EPGE ().