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Brazil's Long-Term Growth Performance -Trying to Explain the Puzzle

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Author Info
Martin Cerisola
Ricardo Adrogué
Gaston Gelos

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Abstract

This paper assesses Brazil's growth performance from a long-term perspective, using crosscountry and panel estimation techniques, building on the vast empirical literature on growth. The empirical evidence presented in this paper confirms that macroeconomic stability and several reforms have helped raise per capita growth in Brazil since the mid-1990s. The results also show that some long-standing structural weaknesses continue to weigh negatively on per capita growth. Reducing the high level of government consumption would help lower the overall consumption level in the economy and lower its intertemporal price-the real interest rate-thus helping to foster investment and growth.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/282.

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Length: 21 pages
Date of creation: 04 Jan 2007
Date of revision:
Handle: RePEc:imf:imfwpa:06/282

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Related research
Keywords: Economic growth ; Brazil ; Economic stabilization ; Economic reforms ; Consumption ; Economic models ;

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References listed on IDEAS
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  10. Florian Pelgrin & Sebastian Schich & Alain de Serres, 2002. "Increases in Business Investment Rates in OECD Countries in the 1990s: How Much Can be Explained by Fundamentals?," OECD Economics Department Working Papers 327, OECD, Economics Department. [Downloadable!]
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  12. Gerhard Glomm & Jürgen Jung & Changmin Lee & Chung Tran, 2005. "Public Pensions and Capital Accumulation: The Case of Brazil," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Altug, Sumru G. & Filiztekin, Alpay & Pamuk, Sevket, 2007. "The Sources of Long-term Economic Growth for Turkey, 1880-2005," CEPR Discussion Papers 6463, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  2. Maria Isabel Serra & Maria Fernanda Pazmino & Genevieve Lindow & Gustavo Ramirez & Bennett Sutton, 2006. "Regional Convergence in Latin America," IMF Working Papers 06/125, International Monetary Fund. [Downloadable!]
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