The macroeconomic dynamics and the economic policy of Brazil from 1994 to 2006
DOI:
https://doi.org/10.4013/4327Abstract
Since the implementation of the Plano Real, Brazil’s economy has been showing an unstable growth because of the low dynamics and high volatility of the product, despite the price stability. Based on this growth model, this article aims to contribute to the current discussion on the repercussion of public policies on the macroeconomic dynamics in this period. The study is founded on the GDP analysis from the point of view of the demand and the relations of public policies. A qualitative aspect of economic growth is also taken into account, showing the high level of resource use. The fact that the current public policies can regulate only the short-term economic fluctuations and are not capable of promoting long-term economic growth is confirmed as one of the results. Besides this, such policies might worsen the real product composition and the quality of economic growth. Some limitation in the repercussion of public policies on the GDP dynamics, especially on its internal demand components, is revealed too.
Keywords: Brazilian economy, Plano Real, economic growth.
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