In the beginning of the international financial crisis, the fact that the international crisis was restricted to the developed countries, and the emerging countries’ fiscal and external situation was comfortable, led a ...

Well documented in economic literature, the choice between alternative exchange rate regimes involves a trade-off between the advantages of a fixed exchange rate and a floating exchange rate regime. The former warrants the ...

The crisis of subprime mortgages in the United States, started in mid-2007 and intensified in the last months of 2008, after the bankruptcy of Lehman Brothers, put an end to that internationally favorable situation the ...

In the second semester of 1998, the Brazilian economy was hit by a serious balance of payments crisis. Among the immediate causes of the crisis, one can single out the strong international turbulence generated by the Asian ...

The current financial system in Brazil has its key roots in the 1950s. At that time, several of the features were established, which are still in evidence today. Of course, there have been changes, mainly in the 1990s and ...

Latin America’s economic performance since the beginning of neo-liberal reforms has been poor; this not only contrasts with its own performance pre-1980, but also with what has happened in Asia since 1980. I shall argue ...