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Do liberal policy regimes condemn Latin America to quasi-stagnation?

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Date
2021-02
Author
Bresser-Pereira, Luiz Carlos
Feijó, Carmem
Araújo, Eliane Cristina de
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Abstract
Police regimes are incompatible with economic growth because liberal economists don’t see industrialization as a condition for economic development; because they pressed for trade liberalization, ignoring that the import tariffs were a way of neutralizing the Dutch disease; beause they don’t see that the growth with foreign indebtedness policy as well as the use of the exchange rate as an anchor to control inflation harm growth because the required capital inflows to finance the respective current account deficits appreciate the national currency, and, so, stimulate consumption while discourages investment; because the austerity programs that they defend are rather a way of defending the interests of rentiers and financiers than a sound macroeconomic policy.
URI
https://hdl.handle.net/10438/30212
Collections
  • FGV EESP - Textos para Discussão / Working Paper Series [538]
Knowledge Areas
Economia
Subject
Regimes políticos
Keyword
Liberal regimes
Developmental regimes
Foreign constraint
Current account deficits
Exchange rate

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