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Brazil's Long-Term Growth Performance -Trying to Explain the Puzzle

Author/Editor: Adrogué, Ricardo | Cerisola, Martin | Gelos, Gaston
Authorized for Distribution: December 1, 2006
Electronic Access: Free Full Text (PDF file size is 601KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper assesses Brazil's growth performance from a long-term perspective, using crosscountry and panel estimation techniques, building on the vast empirical literature on growth. The empirical evidence presented in this paper confirms that macroeconomic stability and several reforms have helped raise per capita growth in Brazil since the mid-1990s. The results also show that some long-standing structural weaknesses continue to weigh negatively on per capita growth. Reducing the high level of government consumption would help lower the overall consumption level in the economy and lower its intertemporal price-the real interest rate-thus helping to foster investment and growth.
 
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Series: Working Paper No. 06/282
Subject(s): Economic growth | Brazil | Economic stabilization | Economic reforms | Consumption | Economic models
Author's keyword(s): Brazil; Per capita growth | cross country analysis
 
English  
    Published:   December 1, 2006        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2006282   Pages:   21
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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