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Brazil

In: Industrialization, Trade and Market Failures

Author

Listed:
  • Mauricio Mesquita Moreira

    (University of Rio de Janeiro)

Abstract

Unlike Korea’s, Brazil’s centenarian industrialization has produced mixed results. On the plus side, it has led to an exceptional growth record, which until the 1980s compared favourably with most LDCs (Table 1). It has also produced a large and diversified manufacturing sector, whose value-added ranked seventh in the world in 1988; and whose export performance over 1965–80, reached East Asian standards. Yet, on the minus side, industrialization was accompanied by rising inflation, by the build-up of the external debt and by the worsening of the income distribution (Table 1). By 1980, the signs of serious resource misallocation were all too obvious, with 35.4% of the economically active population estimated to be under-employed.186 The indicators of productivity and technological activity do not point to an encouraging performance either, with Brazil lagging behind countries like Korea and Mexico. To complete the picture, in the 1980s, output and manufactured export growth fell sharply to well below the LDC average.

Suggested Citation

  • Mauricio Mesquita Moreira, 1995. "Brazil," Palgrave Macmillan Books, in: Industrialization, Trade and Market Failures, chapter 3, pages 87-132, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23698-5_4
    DOI: 10.1007/978-1-349-23698-5_4
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