Setting Up a Modern Macroeconomic Policy Framework in Brazil, 1993-2004

Setting Up a Modern Macroeconomic Policy Framework in Brazil, 1993-2004

This paper keeps an eye on the big picture and follows the long‐lived virtuous circle that, beginning in the mid‐1990s, led to the very successful setting up of a modern macroeconomic policy framework in Brazil, after a decade‐long effort involving four presidential terms. It is an eventful and far from linear history that calls attention to the role of leadership and the complex learning processes that may be involved in the improvement of the quality of economic policy.

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Bibliographic Details
Main Author: Werneck, Rogério L. F.
Format: Working Paper biblioteca
Language:English
en_US
Published: World Bank, Washington, DC 2009
Subjects:ADJUSTMENT PROGRAM, ANNUAL GROWTH, BALANCE OF PAYMENTS, BANKING SYSTEM, BASIS POINTS, BOND, BOND INDEX, BUDGET CONSTRAINT, BUDGET CONSTRAINTS, BUSINESS CONFIDENCE, CENTRAL BANK, CONSOLIDATION, CONSUMER PRICE INFLATION, CONSUMERS, CORRUPTION, COUNTRY RISK, CRAWLING PEG, CREDIBILITY, CURRENCY, CURRENT ACCOUNT, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, DEBT DEFAULT, DEMOCRACY, DEPRECIATION, DEVALUATION, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DISBURSEMENT, DISBURSEMENTS, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, ECONOMIC POLICIES, ECONOMIC RISK, ECONOMIC SITUATION, EMERGING MARKET, EMERGING MARKET ECONOMY, EMERGING MARKETS, EXCHANGE RATE POLICY, EXPENDITURE, EXPENDITURES, EXPORT DIVERSIFICATION, EXPORTS, EXTERNAL DEBT, EXTERNAL FINANCING, EXTERNAL SHOCKS, FEDERAL BUDGET, FEDERAL GOVERNMENT, FINANCIAL ASSETS, FINANCIAL MARKETS, FISCAL ADJUSTMENT, FISCAL AUSTERITY, FISCAL POLICIES, FISCAL POLICY, FISCAL STABILITY, FOREIGN CAPITAL, FOREIGN EXCHANGE, FOREIGN EXCHANGE POLICY, GDP, GLOBAL ECONOMY, GROWTH RATE, HIGH INFLATION, IMPLICIT CONTRACT, IMPORT, IMPORT TARIFFS, INDEXATION, INFLATION, INFLATION RATE, INFLATION TARGETING, INITIATIVE, INTEREST RATE, INTEREST RATES, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL RESERVES, LEADERSHIP, LEGAL FRAMEWORK, LIQUIDITY, LOAN, LOAN AGREEMENT, LOCAL GOVERNMENTS, LOW-INCOME COUNTRIES, MACROECONOMIC ENVIRONMENT, MACROECONOMIC POLICY, MACROECONOMICS, MARKET POWER, MILITARY REGIME, MINISTER, MINISTERS, MONETARY POLICY, NATURAL RESOURCES, NET DEBT, NOMINAL EXCHANGE RATE, POLICE, POLITICAL ECONOMY, POLITICAL ECONOMY OF REFORM, POLITICAL RISK, POLITICAL STRIFE, POLITICAL UNCERTAINTIES, POLITICAL UNCERTAINTY, POLITICIAN, POLITICIANS, POVERTY REDUCTION, PRIVATIZATION, PUBLIC DEBT, PUBLIC EXPENDITURES, PUBLIC SECTOR, REAL DEVALUATION, REAL EXCHANGE RATE, REAL EXCHANGE RATES, RENEGOTIATION, RENEGOTIATIONS, RESERVES, RETURN, RISK PREMIUM, SCANDAL, SMALL BUSINESSES, SPECULATIVE ATTACK, STABILIZATION PLAN, STATE BANK, STATE BANKS, STRUCTURAL ADJUSTMENT, SURPLUS, TARIFF REDUCTION, TAX, TAX HIKES, TRADE ACCOUNTS, TRADE BALANCE, TRADE SURPLUS, VOTERS, WORLD DEMAND, WORLD ECONOMY,
Online Access:http://documents.worldbank.org/curated/en/639411468016784260/Setting-up-a-modern-macroeconomic-policy-framework-in-Brazil-1993-2004
http://hdl.handle.net/10986/27928
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http://documents.worldbank.org/curated/en/639411468016784260/Setting-up-a-modern-macroeconomic-policy-framework-in-Brazil-1993-2004
http://hdl.handle.net/10986/27928

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