The Political Construction of Brazil

2017. An encompassing analysis of Brazil’s society, economy and politics since the Independence. A national-dependent interpretation. Three historical cycles of the relation state-society: State and Territorial Integration Cycle (1822-1929), Nation and Development Cycle (1930-1977) and Democracy and Social Justice Cycle (1977-2010). Crisis since then. (Book: Lynne Rienner Publishers)

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Macroeconomia Desenvolvimentista

2016. With José Luis Oreiro e Nelson Marconi. Our more complete analysis of Developmental Macroeconomics – the central economic theory within New Developmentalism. (book)

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Brazil's 35 years-old quasi-stagnation: facts and theory

Luiz Carlos Bresser-Pereira

Texto para Discussão EESP/FGV 399,, junho 2015


The Brazilian economy is quasi stagnant from 1990, because since the 1980s it dos not have public savings to finance public investments, and because, in 1990, it dismantled the mechanism that neutralized the Dutch disease. In consequence of this, of the belief in "growth with foreign" and of high interest rates, exchange rate turned overvalued chronically and cyclically. The interest rates, on their turn, reflect the political power of the rentiers-financiers. Thus, Brazil is caught in a high interest rate overvalued currency trap that makes the competent industrial firms not competitive and unable to invest.



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