Do Structural Reforms always Succeed?: Lessons from Brazil

Jorge Arbache

No RP2004-58, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: In the last twenty years, Brazil has undergone several attempts of improving sustainable growth through stabilization programmes, and more recently, structural reforms in line with the Washington Consensus Agenda. The results, however, have been disappointing, as the per capita output growth has remained below its historic trend, and poverty and inequality remain at high levels. This paper investigates why market-oriented reforms such as trade and capital account liberalization, privatization, deregulation and stabilization failed to boost growth in Brazil.

Keywords: Comparative economics; Economic integration; Fiscal policy; Monetary policy; Political science (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (5)

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