In Search of the Chains that Hold Brazil Back

Ricardo Hausmann

No 20, Growth Lab Working Papers from Harvard's Growth Lab

Abstract: This paper performs a Growth Diagnostic for Brazil. It shows that many aspects of the Brazilian economy have been improving including the macro picture, educational progress and the external front. Moreover, Brazil has many productive possibilities and high-return investments. Yet growth is hampered because of a relatively old-fashioned problem that has been solved in many other countries in the region: creating a financially viable state that does not over-borrow, over-tax or under-invest. We show that domestic saving is the binding constraint on growth and that it has a fiscal cause. Although things are trending in the right direction, the challenge is to exploit the current good times to create the fiscal basis for a sustained growth acceleration.

Keywords: Growth Diagnostics; Brazil (search for similar items in EconPapers)
JEL-codes: O54 (search for similar items in EconPapers)
Date: 2008-09
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https://growthlab.hks.harvard.edu/sites/projects.i ... wthlab/files/180.pdf (application/pdf)

Related works:
Working Paper: In Search of the Chains that Hold Brazil Back (2008)
Working Paper: Is Search of the Chains That Hold Brazil Back (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:glh:wpfacu:20

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