This report brings together three separate, short papers on problems of Brazilian trade and payments. The following topics are addressed: the determinants of export behavior in the manufactures sector, measures of the real exchange rate and the monetary approach applied to the external balance....

This paper discusses the acceleration of inflation in Brazil. In the early 1980s, the Brazilian inflation rate increased in good measure because of the balance of payments crisis and because of large depreciations of the cruzeiro. The Cruzado Plan failed to stop inflation because of an extremely...

The paper stresses the evolutionary and adaptive experience of Latin American growth between 1950 and 1980, and provides a synthetic view by considering the sources of growth within a simple production framework. Regressions use quinquennial panel data for 18 Latin American countries.They...

This paper studies investment in Latin America and explores the relationships of investment with growth, exchange rates and the terms of trade. It addresses the theoretical issue of the relationship between the real exchange rate and the real price of capital with a model of a small open economy...

This paper discusses the regressive nature of the inflation tax and she limited extent of its impact on those individuals below the poverty line. It also argues that inflation affects poverty mainly through its impact on real wages: the empirical evidence shows that wages increase more slowly...

This paper highlights the institutional features of the inflation process and contrasts two stabilization efforts in 1964-66 and in 1986.The inflation process in Brazil is highly institutional. It does not resemble hyperinflations where pricing and wage setting are geared to the exchange rate by...