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Formerly a favourite location for private capital inflows, Brazil was virtually cut off from further bank lending in the 1980s. The country's rating in secondary loan markets plummeted, and foreign direct investment dwindled. New external financing was replaced by an accumulation of interest...
Persistent link: https://www.econbiz.de/10010294990
International capital markets are far from functioning perfectly. During the last decade, they overshot both ways: The earlier boom of private capital flows to emerging market economies (EMEs) turned out to be the prelude to the drama of seriously impaired access to foreign capital in the late...
Persistent link: https://www.econbiz.de/10010295161
Der Cruzado-Plan vom Februar 1986, der Brasilien schlagartig Preisniveaustabilität ohne eine Stabilisierungskrise … verschaffen sollte, ist gescheitert. Seitdem sind etwas mehr als zwei Jahre vergangen, und Brasilien weist nicht nur wieder - wie … dessen geriet Brasilien in eine Krise mit stagflationärem Charakter: Das öffentliche Defizit, dessen Inflationswirkungen …
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Zu Beginn dieses Jahres befand sich Brasilien mit monatlichen Inflationsraten von über 14 vH am Rande einer …
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This paper aims to show that the fiscal and monetary counter-cyclical actions implemented by Brazilian government after the financial crisis were frugal: the monetary policy was late and slowly slackened and the fiscal policy sustain a primary surplus budget, in the opposite direction of much...
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This paper argues that the Brazilian economy went recently through a process of accelerated growth driven by exports and fixed capital formation. Although the pace of growth was more robust than in the 1990 decade, we can still see the presence of macroeconomic constraints to its continuation in...
Persistent link: https://www.econbiz.de/10010330792