O Ajuste da Poupança Doméstica no Brasil: 1999-2004
This paper analyzes the evolution of the saving and investment rates of the Brazilianeconomy in the period 1999-2004, when the gross domestic savings increased from 15%of Gross Domestic Product (GDP) to 23% of GDP and the country experienced anovershooting in its external adjustment. The paper rejects the argument that there is stilla significant effort to be done to achieve sustainable economic growth. The reversal ofbalance of payments to moderate levels of the current account deficit, combined withsome adjustment in the fiscal accounts and a small increase in the private savings, mayraise the investment ratio to 25% of GDP up to 2010, expanding the growth potential ofthe economy. The challenge is how to materialize this potential. The paper describes thedata for domestic savings, and disaggregates it into public and private sources combiningNational Accounts information, which is not widely available, with fiscal accounting datafrom the Central Bank.
|Date of creation:||Sep 2005|
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- Corbo, Vittorio & Schmidt-Hebbel, Klaus, 1991.
"Public policies and saving in developing countries,"
Journal of Development Economics,
Elsevier, vol. 36(1), pages 89-115, July.
- Corbo, Vittorio & Schmidt-Hebbel, Klaus, 1991. "Public policies and saving in developing countries," Policy Research Working Paper Series 574, The World Bank.
- Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
- Orazio P. Attanasio & Lucio Picci & Antonello E. Scorcu, 2000. "Saving, Growth, and Investment: A Macroeconomic Analysis Using a Panel of Countries," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 182-211, May.
- Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
- Gomes, Victor & Pessoa, Samuel de Abreu & Veloso, Fernando A., 2003. "Evolução da produtividade total dos fatores na economia brasileira: uma análise comparativa," Economics Working Papers (Ensaios Economicos da EPGE) 483, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
- Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 641-680.
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