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Real exchange rate, exchange rate misalignment and economic growth in Brazil: 1994-2007

Author

Listed:
  • José Luis Oreiro
  • Lionello Punzo
  • Eliane Araújo
  • Gabriel Squeff

Abstract

In this article we argue that the Brazilian economy presented in the period 1994-2007 a tendency of real exchange rate appreciation with respect to its equilibrium value, mainly from 2005. This exchange rate misalignment has worked to reduce the growth of Brazilian economy and is the root of the re-emergence of current account deficits. JEL Classification: F14; F31; F43.

Suggested Citation

  • José Luis Oreiro & Lionello Punzo & Eliane Araújo & Gabriel Squeff, 2011. "Real exchange rate, exchange rate misalignment and economic growth in Brazil: 1994-2007," Brazilian Journal of Political Economy, Center of Political Economy, vol. 31(4), pages 551-562.
    • Handle: RePEc:ekm:repojs:v:31:y:2011:i:4:p:551-562:id:420
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    More about this item

    Keywords

    exchange rate misalignment; economic growth; the Brazilian economy;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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