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The persistence of indexation in post-Real Brazil

Author

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  • André Roncaglia de Carvalho

Abstract

The paper analyzes the shortcomings of the Real plan combining political science and economics, considering evidences on difficulties in implementing a complete plan of deindexation, namely: the distributional conflict, the corporatist relations between the State and society and the bureaucratic isolation of a highly specialized technocracy. The announcement of the plan triggered defensive reactions, fueling distributive tensions during the URV period, forcing the economic team to take measures that contradicted the overall guidelines followed. The persistence of indexation mechanisms indicate the resulting obstacles in seeking a reform of the State through a stabilization plan, even though the latter has the former as a precondition. JEL Classification: N40; H19; C14.

Suggested Citation

  • André Roncaglia de Carvalho, 2014. "The persistence of indexation in post-Real Brazil," Brazilian Journal of Political Economy, Center of Political Economy, vol. 34(2).
    • Handle: RePEc:ekm:repojs:v:34:y:2014:i:2:id:272
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    More about this item

    Keywords

    Real Plan; distributional conflict; indexation; statecraft; stabilization;
    All these keywords.

    JEL classification:

    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • H19 - Public Economics - - Structure and Scope of Government - - - Other
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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