Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994. This last period coincided with severe balance of...

Recounts Brazil's evolution from remote Portuguese colony, through economic crises that led to more prudent monetary policies, and to its new status as a regional leader, a respected ambassador for the developing world, and an increasingly important partner for the United States and European...