Do structural reforms always succeed? Lessons from Brazil

Arbeitspapier

In the last twenty years, Brazil has undergone several attempts of improving sustainable growth through stabilization programmes, and more recently, structural reforms in line with the Washington Consensus Agenda. The results, however, have been disappointing, as the per capita output growth has remained below its historic trend, and poverty and inequality remain at high levels. This paper investigates why market-oriented reforms such as trade and capital account liberalization, privatization, deregulation and stabilization failed to boost growth in Brazil. We conclude that structural reforms may contribute to growth if accompanied by microeconomic policies tailor-made to address the country’s needs, and by appropriate macroeconomic, institutional and political environments.

Object Details

• ISBN: 9291906514
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: WIDER Research Paper ; No. 2004/58

Classification and Topics

• Classification: Wirtschaft ; Policy Objectives; Policy Designs and Consistency; Policy Coordination ; Fiscal Policy ; Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy ; Studies of Particular Policy Episodes ; Economic Integration ; Capitalist Systems: Planning, Coordination, and Reform ; Capitalist Systems: Political Economy
• Subject: structural reforms ; policy coordination ; fiscal policy ; stabilization ; trade liberalization ; political economy ; Brazil ; Wirtschaftliche Anpassung ; Brasilien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Arbache, Jorge Saba
• Event: Veröffentlichung
• (who): The United Nations University World Institute for Development Economics Research (UNU-WIDER)
• (where): Helsinki
• (when): 2004

Further information

• Handle: http://hdl.handle.net/10419/63615
• Last update: 10.03.2025, 11:44 AM CET