O Brasil num cruzamento : dívida
By: JÚNIOR, Álvaro Antonio
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ArticlePublisher: São Paulo : Brasiliense, jan./mar. 1990Revista de Economia Política = Brazilian Journal of Political Economy 10, 1, p. 32-52Abstract: The debt crisis caused a major setback in Brazils economic development in the 1980s. Stabilization policies based on contracting aggregate demand have produced an overall stagnant economic performance that alternates periods of recession with periods of growth cum rampant inflation. The attempts of adjustment have implied a near exhaustion of the public sector finances and have added distortions in the pattern of financing the economy. While the transfer problem can be potentially settled on the real side, on the fiscal side obstacles are real and may indeed lead to stagnation in the 1990s. This paper suggests a concerted action to promote growth; one that involves a stimulus to the production of tradeables through an investments policy and a new approach to commercial and the exchange rate policies, and a refunding of the domestic and the external debts of the public sector to help solve the financial disarray of the Government
The debt crisis caused a major setback in Brazils economic development in the 1980s. Stabilization policies based on contracting aggregate demand have produced an overall stagnant economic performance that alternates periods of recession with periods of growth cum rampant inflation. The attempts of adjustment have implied a near exhaustion of the public sector finances and have added distortions in the pattern of financing the economy. While the transfer problem can be potentially settled on the real side, on the fiscal side obstacles are real and may indeed lead to stagnation in the 1990s. This paper suggests a concerted action to promote growth; one that involves a stimulus to the production of tradeables through an investments policy and a new approach to commercial and the exchange rate policies, and a refunding of the domestic and the external debts of the public sector to help solve the financial disarray of the Government
Revista de Economia Política 1990
v. 10, n. 1(37)
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