Is Search of the Chains That Hold Brazil Back
This paper performs a Growth Diagnostic for Brazil. It shows that many aspects of the Brazilian economy have been improving including the macro picture, educational progress and the external front. Moreover, Brazil has many productive possibilities and high-return investments. Yet growth is hampered because of a relatively old-fashioned problem that has been solved in many other countries in the region: creating a financially viable state that does not over-borrow, over-tax or under-invest. We show that domestic saving is the binding constraint on growth and that it has a fiscal cause. Although things are trending in the right direction, the challenge is to exploit the current good times to create the fiscal basis for a sustained growth acceleration.
|Date of creation:||Oct 2008|
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- Hausmann, Ricardo & Hwang, Jason & Rodrik, Dani, 2006.
"What You Export Matters,"
CEPR Discussion Papers
5444, C.E.P.R. Discussion Papers.
- Hausmann, Ricardo & Hwang, Jason & Rodrik, Dani, 2005. "What You Export Matters," Working Paper Series rwp05-063, Harvard University, John F. Kennedy School of Government.
- Ricardo Hausmann & Jason Hwang & Dani Rodrik, 2005. "What You Export Matters," NBER Working Papers 11905, National Bureau of Economic Research, Inc.
- Ricardo Adrogué & Martin Cerisola & Gaston Gelos, 2010. "Brazil's long-term growth performance: trying to explain the puzzle," Journal of Economic Studies, Emerald Group Publishing, vol. 37(4), pages 356-376, September.
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