Aggregate demand and the slowdown of Brazilian economic growth in 2011-2014
This paper looks in detail at the sharp slowdown in the Brazilian economy for the years 2011-2014. We argue that the slowdown is overwhelmingly the result of a sharp decline in domestic demand, rather than a fall in exports and even less any change in external financial conditions. The sharp fall in...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Universidade Federal de Minas Gerais
2016-12-01
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| Series: | Nova Economia |
| Subjects: | |
| Online Access: | http://revistas.face.ufmg.br/index.php/novaeconomia/article/view/3549 |
| Summary: | This paper looks in detail at the sharp slowdown in the Brazilian economy for the years 2011-2014. We argue that the slowdown is overwhelmingly the result of a sharp decline in domestic demand, rather than a fall in exports and even less any change in external financial conditions. The sharp fall in domestic demand, in turn, is shown to be a result of deliberate policy decisions made by the government and was not necessary, i.e., it was not made in response to some external constraint such as a balance-of-payments problem. |
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| ISSN: | 0103-6351 |