Academia.edu no longer supports Internet Explorer.
To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser.
Brazil on the Global Stage, 2015
Brazil is no longer condemned to be the " country of the future. " After six presidential elections over the past quarter century, the world's third-largest democracy and sixth-largest economy now has nearly twenty years' experience with low infl ation and a level of political stability that few countries in the world can match. Although some of the highest inequalities in the world remain, the Brazilian middle class has grown dramatically over the past decade to become the single largest socioeconomic group. Self-suffi cient in petroleum and on the verge of exploiting some of the planet's largest and deepest offshore oil fi elds, Brazil has also become the world's greenest large economy, with nearly three-quarters of its energy provided by hydroelectricity and biofuels. In 2014 the country will host the World Cup, and in 2016 Rio de Janeiro will follow up as the site of the Summer Olympics. Although recent economic growth has been disappointing, as most of the world was shaken by the massive recession after 2008, Brazil posted impressive economic growth, in particular with the help of a world commodities boom. The rediscovery of Brazil has already produced an impressive array of books that attempt to sum up the country for the general public, policy makers, and the business community. As the world's attention turns to the World Cup and the P6245.indb 221 P6245.indb 221
Americas Quarterly, 2020
OTAVIANO CANUTO | JULY 2, 2020 AMERICAS QUARTERLY Latin America's largest economy entered the pandemic before it could heal from its worst recession in decades. A command center in São Paulo monitors the spread of the new coronavirus in Brazil.Jonne Roriz/Bloomberg via Getty Images As the pandemic unfolds, Brazil is paying a huge human cost, with the number of victims rising quickly. The scar of COVID-19 will take a long time to heal. And the country will also have to battle on the economic side, where the impact will be deep and long-lasting. Starting from a jump in the already high level of debt in relation to its GDP, coming from both sides of the equation: spending has skyrocketed while a steep decline in its gross domestic product is expected for this year. The trajectory for the country's economy over the next decade, it is clear, will be lower than what was expected prior to COVID-19.
2016
bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed
Russian Journal of Economics
Brazilian economic reforms in 21st century have great importance for the international community, especially for other countries of the middle level of development. The authors believe that, in spite of all the difficulties and crises, Brazil has made a decisive step forward by reforming its social structure and retaining democracy. Social reforms (especially minimal wage) led to strengthening middle class, but also to elevating its social aspirations. At this dramatic junction the economic development of the country was aggravated by external shocks and unsuccessful budget policies. The complex interaction of social macroeconomic policies in Brazil with strong external shocks gives lessons to countries with similar characteristics. The pandemic and recession of 2020–2021 have made the path of development more complicated but there is room for optimism for Brazil in the long run.
OVERVIEW According to World Bank's GDP ranking (July 2017), Brazil is the ninth largest economy in the world. However, it is still considered a developing country, aside from Russia (12th), India (7th) and China (2nd); all participants of the BRIC (predictions that by 2050, these four countries will become the world's dominant suppliers of manufactured goods and services and raw materials). Despite having a negative GDP growth in 2015 and 2016, the Brazilian economy has impacted qualitatively for the population, with a significant reduction in income inequality. The Gini coefficient (World Bank, 2017) for the country's distribution of household per capita income fell to 0.513 in 2015, considering that it was 0.633 in 1989. In other words, approximately 20 million Brazilians were lifted out of poverty (IPEA, 2010b; Pochmann, 2007 cited by Mattei, 2015). Highlighting the numbers above, there is a curious contrast between negative growth and increase of equality. This paper will indeed present the economic contradictions and governmental instabilities that Brazil has undergone in the last 60 years; these atypical situations make difficult to both apply (exogenous or endogenous) economic models and assertively predict the convergence path in which the country will tread, whether it will catch up or fall behind. GROWTH MODELS Table 1 in appendix page shows a GDP yearly rollercoaster in Brazil's performance. To contextualize those frequent ups and downs, most variations have happened in between crisis or tensions in the political scenario; except in the year of 2009, hit by an echo from the Global Economic Crisis of 2007-2008. Brazilian economic history demonstrates different results comparing with the measures taken throughout the last 60 years (1957-2017). There is no single theoretical model which could perfectly describe the Brazilian growth history. Moreover, empirical frameworks become very difficult to suit so many different changes and realities in the past decades. Some research findings may help to understand the whole panorama. ROSTOW MODEL (1957 – 1984) It is noticeable a certain similarity between Rostow (1991) Model and the first 27-year-period to be explained. The first and second stages, " Traditional Society " and " Transitional Stage " are well represented by the years from 1957 and 1963, where Brazil fostered a "development policy", reaping the fruits of a wave of world (postwar) prosperity. The economy was widely appreciated in the national raw materials, thus helping the country accumulate a large volume of foreign exchange reserves. The agricultural sector accounted for 25% of GDP and housed 60% of the labor force. Illiteracy quickly fell from 50% to 39%. One of the most significant Brazilian companies on the world stage, Petrobras (founded in 1953), took strength in this period, paving the way for new manufacturing technologies and intensifying rural exodus. Zerkowski and Veloso (1982) recorded an average growth rate of more than 7% per year in GDP during this period. The only exception was in 1963 that GDP growth was 0.875% because of a political tension pre-military coup. The third stage, " Take off " , from 1964 to 1973, Military dictatorship took over the Brazilian government for 21 years. In the first 10 years, unlike other Latin American dictatorships, the military government intensified imports, diversified industrial production, which also led to the diversification of exports and sought intentional loans, injecting large volumes of capital with a focus on increasing GDP growth, reducing inflation and generating balance surplus. These measures were aimed at modernizing the farmworker's labor force and offering economic incentives to market-oriented farmers instead of facilitating agrarian reform. Bacha, Caetano, and Carvalho (2014) point out that "in 1965, the Federal Government created the National Rural Credit System (SNCR), which became a crucial source of low-interest loans for farmers seeking to buy industrial machinery and inputs, therefore, a key step towards increasing agricultural productivity ". At the apogee of the dictatorship, Brazil reached its peak of GDP growth, 13.9% in 1973.
The Routledge Companion to English Studies, 2025
Revista Brasileira de Fruticultura
arXiv (Cornell University), 2018
Asian Journal of Dairy and Food Research, Volume 43 Issue 3: 544-551 (September 2024)
Biodiversitas Journal of Biological Diversity, 2021
New Literary History, 2000
HAL (Le Centre pour la Communication Scientifique Directe), 2013
JAAD case reports, 2016