La gestión del régimen cambiario en Brasil

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

“…Brazil became a massive exporter of capital. This would only be overcome in the 1990s with the adoption of a new stabilization program, the Real Plan (in place between July 1994 and January 1999), which heavily relied on the exchange rate to anchor expectations on future inflation (Prates et al, 2009) 11 . The Real Plan was highly successful in de-indexing the economy and curbing inflation.…”