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

dc.contributorEscolas::EESP
dc.creatorBresser-Pereira, Luiz Carlos
dc.date.accessioned2015-08-07T17:02:23Z
dc.date.accessioned2022-11-03T20:08:15Z
dc.date.available2015-08-07T17:02:23Z
dc.date.available2022-11-03T20:08:15Z
dc.date.created2015-08-07T17:02:23Z
dc.date.issued2015-08-07
dc.identifierTD 399
dc.identifierhttp://hdl.handle.net/10438/13882
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/5032175
dc.description.abstractBrazil 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.
dc.languageeng
dc.relationEESP - Textos para Discussão;TD 399
dc.subjectQuasi-stagnation
dc.subjectInvestment
dc.subjectInterest rate
dc.subjectExchange rate
dc.subjectDutch disease
dc.titleBrazil’s 35 years-old quasi-stagnation: facts and theory
dc.typeWorking Paper


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