Inflation and economic growth in an open developing country: the case of Brazil

Baltar, Carolina Troncoso

doi:10.1093/cje/beu073

Cited by 24 publications

(44 citation statements)

References 18 publications

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“…During the period 2004-2008, the nominal exchange rate decreased (which means currency appreciation as the exchange rate of the Brazilian Real is the price of the US dollar), helping the inflation slowdown and the efficacy of the inflation target policy (Maryse Farhi 2006). As Baltar (2015) pointed out, the tradable goods inflation followed the nominal exchange rate path, but higher economic activity produced PANOECONOMICUS, 2016, Vol. 63, Issue 2 (Special Issue), pp.…”

Section: Brazilian Economic Performancementioning

confidence: 98%

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Brazilian economic performance since the emergence of the great recession: The effects of income distribution on consumption

2016

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After a long period of unstable and low economic activity, Brazil achieved a relatively high economic growth with low inflation from 2004 to 2008, when the world scenario was favourable for the Brazilian trade balance. An incomes policy, focused on real increases in the minimum wage along with a credit boom, led to a decade of high consumption growth rates. High levels of consumption and exports, in turn, induced investment and stimulated manufacturing production, despite the real appreciation of the national currency. However, the Great Recession that emerged after the global financial crisis of 2007/2008 brought challenges to the Brazilian economic performance, with unpleasant consequences for the country's GDP growth. Consumption, investment and exports have decelerated, despite anti-cyclical macroeconomic policies. In this setting, manufacturing production stagnated and GDP growth slowed down substantially, while imports continued rising considerably. The aim of this paper is to provide an explanation to the slowdown of Brazilian growth rates after the Great Recession. The main hypothesis is that consumption was the main source of effective demand in the country since 2003. However, Brazil has not yet been able to sustain manufacturing and economic growth without a more active government policy to stimulate productive investment.

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Section: Brazilian Economic Performancementioning

confidence: 98%

“…Besides a new boom of capital flows for emerging economies, both external demand and price for commodity goods grew. Brazilian exports increased considerably as well as consumption and investment (Prates 2006;Baltar 2013).…”

Section: Brazilian Economic Performancementioning

confidence: 99%

Brazilian economic performance since the emergence of the great recession: The effects of income distribution on consumption

2016

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“…Capital controls allowed China to remain relatively untouched by global financial instability, even in the heydays of the Asian crisis in 1997-1998 (in which the Korean won sharply depreciated) 14 . 12 See Baltar (2015). Brazil fell into what has been labeled a -low RER x high interest rates trap‖ (Oreiro et al, 2012).…”

Section: China: Shifting Objectives For Capital Controlsmentioning

confidence: 99%

Choosing sides in the trilemma: international financial cycles and structural change in developing economies

Cimoli

Ocampo

Porcile

et al. 2020

Economics of Innovation and New Technology

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“…A queda da taxa nominal de câmbio diminuiu a inflação brasileira, mas esta continuou maior que a média dos países que têm comércio de bens e serviços com o Brasil. Isso porque a reativação da economia e a elevação nominal dos salários que ocorreram junto com a queda da inflação amorteceram a diminuição do ritmo da inflação doméstica, por seus efeitos no sentido de elevar os preços relativos de bens e serviços que não concorrem com a produção de outros países (Baltar, 2014a). Por esse motivo, as sucessivas quedas na taxa nominal de câmbio não fizeram a inflação doméstica se tornar menor do que a internacional e, por isto, a moeda nacional tornou-se cada vez mais valorizada.…”

Section: Desempenho Da Economia E Condição De Atividadeunclassified

Perspectivas para o mercado de trabalho após o crescimento com inclusão social

Baltar

Leone

2015

Estud. av.

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resumo O atual quadro econômico de queda no PIB, com inflação de 10% ao ano, ameaça o nível de emprego e o poder de compra da renda do trabalho. No acompanhamento da evolução do emprego e da renda do trabalho será importante levar em conta o que aconteceu em 2003-2013 para avaliar as particularidades de uma eventual reversão dos avanços obtidos no mercado de trabalho, com o recente crescimento com inclusão social. Nesse contexto, este artigo mostra as mudanças que ocorreram no mercado de trabalho do país, com dados da Pesquisa Nacional por Amostra de Domicílios (PNAD) para 2004 e 2013. A análise começa pelo desempenho da economia e a condição de atividade da população. Em seguida destaca as principais mudanças na estrutura ocupacional e nos rendimentos com ênfase no emprego em estabelecimento.

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Inflation and economic growth in an open developing country: the case of Brazil

Cited by 24 publications

References 18 publications

Brazilian economic performance since the emergence of the great recession: The effects of income distribution on consumption

Brazilian economic performance since the emergence of the great recession: The effects of income distribution on consumption

Choosing sides in the trilemma: international financial cycles and structural change in developing economies

Perspectivas para o mercado de trabalho após o crescimento com inclusão social

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