Monetary and fiscal institutions have played a decisive role in the stabilisation of the Brazilian economy since the mid-1990s. In Brazil institutional reforms were predominantly made in response to a succession of internal and, particularly, external crises. Brazil's experience of designing and...

Monetary and fiscal institutions have played a prominent role in the macroeconomic stabilisation of the Brazilian Real. The creation of the present currency in 1994 may be considered a watershed moment. Previously Brazil's was an economy marked by hyperinflation, one which had already undergone...