Brazil's Long-Term Growth Performance -Trying to Explain the Puzzle
AbstractThis 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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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 06/282.
Date of creation: 01 Dec 2006
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Other versions of this item:
- Ricardo Adrogué & Martin Cerisola & Gaston Gelos, 2010. "Brazil's long-term growth performance: trying to explain the puzzle," Journal of Economic Studies, Emerald Group Publishing, vol. 37(4), pages 356-376, September.
- NEP-ALL-2007-05-04 (All new papers)
- NEP-DEV-2007-05-04 (Development)
- NEP-MAC-2007-05-04 (Macroeconomics)
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