Brazil's Trade Liberalization and Growth: Has it Failed?
Unfulfilled expectations about economic growth in Brazil has led many observers to question the ability of the new, open trade regime to put the economy back on a path of sustainable growth. Whereas the country's growth record has been really poor, the evidence suggests that the underlying causes had nothing to do with trade. Quite the contrary. This paper shows that trade liberalization has given an important contribution to two of the main drivers of growth: productivity and investment in physical capital. It argues that these gains were not turned into growth due to an unfavorable macro and institutional environment. It also claims that Brazil could have enjoyed more gains from trade, had it pursued a more aggressive trade policy at home and abroad. The paper concludes by outlining the main issues of a pro-growth, trade policy agenda for the country.
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Format: | Technical Notes biblioteca |
Language: | English |
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Inter-American Development Bank
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Subjects: | Integration and Trade, INTAL ITD Occasional Paper N° 24;Libre Comercio;INTAL, |
Online Access: | http://dx.doi.org/10.18235/0008584 https://publications.iadb.org/en/brazils-trade-liberalization-and-growth-has-it-failed |
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dig-bid-node-101622024-05-30T20:03:20ZBrazil's Trade Liberalization and Growth: Has it Failed? 2004-03-01T00:00:00+0000 http://dx.doi.org/10.18235/0008584 https://publications.iadb.org/en/brazils-trade-liberalization-and-growth-has-it-failed Inter-American Development Bank Integration and Trade INTAL ITD Occasional Paper N° 24;Libre Comercio;INTAL Unfulfilled expectations about economic growth in Brazil has led many observers to question the ability of the new, open trade regime to put the economy back on a path of sustainable growth. Whereas the country's growth record has been really poor, the evidence suggests that the underlying causes had nothing to do with trade. Quite the contrary. This paper shows that trade liberalization has given an important contribution to two of the main drivers of growth: productivity and investment in physical capital. It argues that these gains were not turned into growth due to an unfavorable macro and institutional environment. It also claims that Brazil could have enjoyed more gains from trade, had it pursued a more aggressive trade policy at home and abroad. The paper concludes by outlining the main issues of a pro-growth, trade policy agenda for the country. Inter-American Development Bank Mauricio Mesquita Moreira Technical Notes application/pdf IDB Publications en |
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Integration and Trade INTAL ITD Occasional Paper N° 24;Libre Comercio;INTAL Integration and Trade INTAL ITD Occasional Paper N° 24;Libre Comercio;INTAL |
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Integration and Trade INTAL ITD Occasional Paper N° 24;Libre Comercio;INTAL Integration and Trade INTAL ITD Occasional Paper N° 24;Libre Comercio;INTAL Inter-American Development Bank Brazil's Trade Liberalization and Growth: Has it Failed? |
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Unfulfilled expectations about economic growth in Brazil has led many observers to question the ability of the new, open trade regime to put the economy back on a path of sustainable growth. Whereas the country's growth record has been really poor, the evidence suggests that the underlying causes had nothing to do with trade. Quite the contrary. This paper shows that trade liberalization has given an important contribution to two of the main drivers of growth: productivity and investment in physical capital. It argues that these gains were not turned into growth due to an unfavorable macro and institutional environment. It also claims that Brazil could have enjoyed more gains from trade, had it pursued a more aggressive trade policy at home and abroad. The paper concludes by outlining the main issues of a pro-growth, trade policy agenda for the country. |
author2 |
Mauricio Mesquita Moreira |
author_facet |
Mauricio Mesquita Moreira Inter-American Development Bank |
format |
Technical Notes |
topic_facet |
Integration and Trade INTAL ITD Occasional Paper N° 24;Libre Comercio;INTAL |
author |
Inter-American Development Bank |
author_sort |
Inter-American Development Bank |
title |
Brazil's Trade Liberalization and Growth: Has it Failed? |
title_short |
Brazil's Trade Liberalization and Growth: Has it Failed? |
title_full |
Brazil's Trade Liberalization and Growth: Has it Failed? |
title_fullStr |
Brazil's Trade Liberalization and Growth: Has it Failed? |
title_full_unstemmed |
Brazil's Trade Liberalization and Growth: Has it Failed? |
title_sort |
brazil's trade liberalization and growth: has it failed? |
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Inter-American Development Bank |
url |
http://dx.doi.org/10.18235/0008584 https://publications.iadb.org/en/brazils-trade-liberalization-and-growth-has-it-failed |
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AT interamericandevelopmentbank brazilstradeliberalizationandgrowthhasitfailed |
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1809106689729757184 |