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A política econômica do governo Médici: 1970-1973 [Economic Policy of the Médici Government: 1970-1973]


  • José Pedro Macarini



This article focuses on the economic policies of the Emílio Garrastazu Medici administration. This period became known for the official description of the then ongoing economic boom, as if this boom were a real developmental stage that would lead to prolonged growth for decades, thus pulling the country out of its backwardness. In the first section, we will examine the creation of a national project by the military regime, leading to the "Brazil: a Great Power" project, which was based on growth in exports of agricultural products as its core development strategy. The second section presents a detailed summary of the conduct of economic policy - with emphasis given to aspects concerning the core strategy announced, to sustained growth and to stabilization policy. The analysis highlights some specific aspects of the 1972-1973 economic scenario, suggesting that this represents a different period (a second phase) in the conduct of economic policy during the Brazilian "miracle".

Suggested Citation

  • José Pedro Macarini, 2005. "A política econômica do governo Médici: 1970-1973 [Economic Policy of the Médici Government: 1970-1973]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 15(3), pages 53-92, September.
  • Handle: RePEc:nov:artigo:v:15:y:2005:i:3:p:53-92

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    More about this item


    Brazil; military dictatorship; economic policy;

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes


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