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Brazil

Author

Listed:
  • Iulia Monica Oehler-Şincai

Abstract

After being host of the Football World Cup in 2014, Brazil has been preparing for the 2016 Summer Olympics. Consequently, it is more intensely and closely scrutinized by international public opinion. The Brazilian authorities have not been discouraged by protests against organizing sport events that are capital intensive and are expected to produce questionable economic effects on the medium and long term. Neither public demonstrations, nor difficulties encountered during the forced displacement of the slums (favelas) inhabitants, or epidemic caused by Zika virus have changed the program of the Olympic Games. Nevertheless, the business cycle has been running its course independently of these preparations and accompanying effects. After the recession episode of 2009, the Brazilian economic recovery was rapid, but short-lived. From 2012 on, the lost opportunities and weaknesses expanded, and they culminated in a new slid of the economy into recession in 2014. The statistics highlight the deepest recession of the Brazilian economy in the last decade and the governance failure in a country that is not able to return to robust economic growth, even though it has all the other resources to act as a real pole of power in the current multipolar world. Furthermore, the situation continues to deteriorate amid political uncertainty. Investigations associated to the Petrobras corruption scandal have turned out to be a difficult task and even the new government is intensely contested.

Suggested Citation

  • Iulia Monica Oehler-Şincai, 2016. "Brazil," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 171-176.
    • Handle: RePEc:iem:conjun:y:2016:p:171-176
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    Keywords

    Brazil; macroeconomic indicators; GDP; inflation; unemployment; general government net lending/borrowing; gross debt; structural weaknesses;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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