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Where is Brazil going? Taking stock of recent trends in industrial and trade policies and the challenges ahead

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  • Mesquita Moreira, Mauricio
  • Frischtack, Claudio

Abstract

Brazil’s trade and industrial policies in the last decade has taken an increasingly sharp turn towards boosting and protecting the local manufacturing industry, particular after the 2008 financial crisis. This paper reviews these policies and their initial results and argues that, while they have brought some short-term relief, they have done so at the cost of undermining the fundamentals of long-term growth. The country’s recent lackluster economic performance—an unfortunate combination of high inflation, low growth, and a deteriorating current account deficit seem to confirm this view.

Suggested Citation

  • Mesquita Moreira, Mauricio & Frischtack, Claudio, 2014. "Where is Brazil going? Taking stock of recent trends in industrial and trade policies and the challenges ahead," MPRA Paper 59737, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:59737
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    File URL: https://mpra.ub.uni-muenchen.de/59737/1/MPRA_paper_59737.pdf
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    References listed on IDEAS

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    2. Silvana Tordo & Michael Warner & Osmel E. Manzano & Yahya Anouti, 2013. "Local Content in the Oil and Gas Sector," World Bank Publications - Books, The World Bank Group, number 15930, December.
    3. Corden, W M, 1984. "Booming Sector and Dutch Disease Economics: Survey and Consolidation," Oxford Economic Papers, Oxford University Press, vol. 36(3), pages 359-380, November.
    4. Luzio, Eduardo & Greenstein, Shane, 1995. "Measuring the Performance of a Protected Infant Industry: The Case of Brazilian Microcomputers," The Review of Economics and Statistics, MIT Press, vol. 77(4), pages 622-633, November.
    5. Frischtak, Claudio R., 1994. "Learning and technical progress in the commuter aircraft industry: an analysis of Embraer's experience," Research Policy, Elsevier, vol. 23(5), pages 601-612, September.
    6. Kahn, Theodore & Molina, Danielken & Ramizo, Dorothea & Pasadilla, Gloria & Burmeister, Luca & Mesquita Moreira, Mauricio & Wignaraja, Ganeshan, 2012. "Shaping the Future of the Asia-Latin America and the Caribbean Relationship," IDB Publications (Books), Inter-American Development Bank, number 389.
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    More about this item

    Keywords

    Brazil; Trade Policy; Industrial Policy; Latin America;
    All these keywords.

    JEL classification:

    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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