The recent process of accelerated expansion of the Brazilian economy was driven by exports and fixed capital formation. Although the pace of growth was more robust than in the 1990´s, we can still witness the existence of ...

The turbulences that hit repeatedly the international economy in the second half of the 1990s caused much damage to the Brazilian economy. A few months after the country achieved price stability with the Real Plan (named ...

A useful starting point for this discussion may be the acknowledgment of some key features of the Brazilian Financial System (BFS): i. The BFS is a bank-based system, led by financial conglomerates organized around large ...

This briefing note addresses the question: What revisions of financial regulation and financial governance in Brazil are necessary to support Brazilian development? What’s in place and what’s missing? The focus here is a ...

There has been a great deal of discussion recently over the use of exchange rates to ameliorate international imbalances. At the same time many developed countries have embarked a highly expansionary monetary policies, ...

From the 1930s or, at least, from the 1950s, Latin American countries adopted a successful national development strategy, namely, national developmentalism, based on development economics and Latin-American structuralist ...

Latin America has recently experienced three cycles of capital inflows, the first two ending in major financial crises. The first took place between 1973 and the 1982 ‘debt-crisis’. The second took place between the 1989 ...

This paper examines the current global scene of distributional disparities within-nations. There are six main conclusions. First, about 80 per cent of the world’s population now live in regions whose median country has a ...

Capital flow volatility is one of the most pressing financial problems facing developing and emerging economies. These countries expect steady and reliable inflows to promote investment in fixed capital and to help to ...

This paper defines 'balance of payments dominance' as a macroeconomic regime in which the short-term macroeconomic dynamics is essentially determined by external shocks, positive or negative. It argues that this is the ...