Connecting Brazil to the world

Patricia Ellen, Jaana Remes, 12 July 2014

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Despite a decade of rapid growth and falling poverty rates, Brazil has failed to match the global average for income growth – let alone to achieve the kind of impressive gains posted by other rapidly transforming emerging economies.

Topics: Development, International trade, Productivity and Innovation
Tags: Brazil, development, global value chains, globalisation, growth, MERCOSUR, openness, productivity, trade

Institutions, trade shocks, and regional differences in long-run educational and development trajectories

André Carlos Martínez, Aldo Musacchio, Martina Viarengo , 9 July 2014

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Understanding the determinants of long-run socio-economic development is a major concern for academics and policymakers in many countries around the world.

Topics: Development, Economic history, Education
Tags: Brazil, colonialism, development, education, extractive institutions, growth, Inequality, institutions, trade shocks

Do capital controls deflect capital flows?

Paolo Giordani, Michele Ruta, Hans Weisfeld, Ling Zhu, 23 June 2014

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The size and volatility of capital flows to developing countries have increased significantly in recent years (Figure 1), leading many economists to argue that national policies and multilateral institutions are needed to govern these flows (Forbes and Klein 2013, Blanchard and Ostry 2012).

Topics: International finance
Tags: Brazil, capital controls, capital flows, Capital inflows, China, international capital flows, South Africa, spillovers

Football in the time of protest

Nauro F Campos, 13 June 2014

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Football is actually coming home. Brazil is the spiritual home of the ‘beautiful game’. It is the only country to have competed in all 20 World Cup tournaments, it has won the tournament a record five times, and it is the only country to have won the tournament ‘away’ (Ponzo and Scoppa 2014).1 Brazilians worship football.

Topics: Institutions and economics, Politics and economics
Tags: Brazil, Corruption, FIFA, Football, infrastructure, Political Economy, protests, rent-seeking, soccer, sport

Policymaking in crises: Pick your poison

Kristin Forbes, Michael W Klein, 24 December 2013

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In 2010, the Brazilian finance minister Guido Mantenga declared a ‘currency war’ because of the harmful effects of the strengthening of the real. He blamed the currency’s appreciation on easy money in advanced countries, and to a lesser extent on reserve accumulation in some emerging markets.

Topics: Exchange rates, Macroeconomic policy
Tags: Brazil, capital controls, currency war, exchange rates, foreign exchange reserves, global financial crisis, India, Indonesia

Should Brazil’s central bank be selling foreign reserves?

Márcio Garcia, 25 September 2013

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The US dollar’s rise in August and the Brazilian Central Bank’s (BCB) interventions in forex markets have started a debate about whether the BCB should keep on intervening as it has been doing, mostly via currency derivatives markets, or if it should also be selling its international reserves.

Topics: Exchange rates, International finance
Tags: Brazil, capital flows, Central Banks, derivatives, exchange rates

The BRICs party is over

Anders Åslund, 4 September 2013

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After a decade of infatuation, investors have suddenly turned their backs on emerging markets. In the BRIC countries – Brazil, Russia, India and China – growth rates have quickly fallen and current-account balances have deteriorated.1 The surprise is not that the romance is over but that it could have lasted for so long.

Topics: Development, International trade
Tags: Brazil, BRIC, BRICs, China, commodities, India, protectionism, Russia

What drives protests in Brazil? Corruption, ineptitude and elections

Nauro F Campos, 23 July 2013

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The conventional wisdom is that Brazilians are a laid-back people who can always find a way (‘jeitinho’) even if that involves dribbling the rules. If that was actually true, political protest would be extremely rare in Brazil.

Topics: Development, Politics and economics
Tags: Brazil, protest

Brazil: Did inward capital controls work?

Márcio Garcia, 1 March 2013

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As the developed economies struggle to revive growth and create jobs, the debate about currency wars has come to forefront, with generalised quantitative easing, an EU Tobin tax, and confusing comments from G7 official regarding the effects of Abenomics on the yen.

Topics: Global governance, International trade
Tags: Brazil, capital controls

Capital controls: Gates versus walls

Michael W Klein, 17 January 2013

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Capital controls are no longer considered rogue policies.

Topics: Macroeconomic policy
Tags: Brazil, capital controls, China, South Korea

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