Brazil's long-term growth performance
Subtitle: trying to explain the puzzle
By: prepared by Ricardo Adrogué, Martin Cerisola, and Gaston Gelos.
Contributors: Cerisola, Martin.; Gelos, Gaston.; International Monetary Fund. Western Hemisphere Dept.
Series: IMF working paper -- WP/06/282
Publisher: International Monetary Fund, Western Hemisphere Dept.
Published: 2006
Place of publication: Washington, D.C
Language: eng
Number of pages: 21
Subjects: Brazil -- Economic conditions -- 1985-; Brazil -- Economic policy.
Description: This paper assesses Brazil's growth performance from a long-term perspective, using cross-country and panel estimation techniques, building on the vast empirical literature on growth. The empirical evidence presented in this paper confirms that macroeconomic stability and several reforms have helped raise per capita growth in Brazil since the mid-1990s. The results also show that some long-standing structural weaknesses continue to weigh negatively on per capita growth. Reducing the high level of government consumption would help lower the overall consumption level in the economy and lower its intertemporal price-the real interest rate-thus helping to foster investment and growth.
Notes: Caption title.

"December 2006."

Includes bibliographical references (p. 20-21).

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