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Economic Cycles in Brazil

In: Business Cycles in BRICS

Author

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  • Leonardo Weller

    (EESP-FGV)

Abstract

This chapter contextualizes the economic cycles that happened in Brazil between 1981 and 2017. It highlights that business cycles have been a weak force in determining the timing and pace of Brazilian economic growth, whose erratic stop-and-go pattern is often compared to a “chicken flight.” Instead of gains from productivity, demand-side government policies and exogenous shocks have driven fluctuations in economic activity. The chapter focuses on such policies and shocks to explain the causes of recessions that occurred in 1981–1983, 1987–1988, 1989–1992, 1995, 1998–1999, 2001, 2003, 2008–2009, and 2014–2016—the last of which was the most severe ever recorded in the country.

Suggested Citation

  • Leonardo Weller, 2019. "Economic Cycles in Brazil," Societies and Political Orders in Transition, in: Sergey Smirnov & Ataman Ozyildirim & Paulo Picchetti (ed.), Business Cycles in BRICS, pages 69-87, Springer.
    • Handle: RePEc:spr:socchp:978-3-319-90017-9_5
    DOI: 10.1007/978-3-319-90017-9_5
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    Cited by:

    1. Fernando H.P.S Mendes & João Frois Caldeira & Guilherme Valle Moura, 2019. "Duration-dependent Markov-switching model: an empirical study for the Brazilian business cycle," Economics Bulletin, AccessEcon, vol. 39(1), pages 676-685.

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