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Achieving Development SuccessStrategies and Lessons from the Developing World$
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Augustin K. Fosu

Print publication date: 2013

Print ISBN-13: 9780199671557

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199671557.001.0001

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Brazil’s Growth Performance: Achievements and Prospects

Brazil’s Growth Performance: Achievements and Prospects

Chapter:
(p.295) 15 Brazil’s Growth Performance: Achievements and Prospects
Source:
Achieving Development Success
Author(s):

Luiz de Mello

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199671557.003.0015

This chapter discusses Brazil's main achievements to date and identifies policy areas that require further action to sustain its growth potential. Brazil's improved growth performance is essentially due to ongoing macroeconomic adjustment and structural reforms in several policy domains. Political commitment to policy continuity in many areas has been instrumental in this process, especially in terms of building credibility in the country's institutional framework for policy-making. A supportive external environment in recent years has also contributed to a much needed adjustment in the country's external accounts, making the economy more resilient to external shocks. Further efforts towards increasing Brazil's growth potential should focus on two main areas. First, the consolidation of macroeconomic adjustment would fulfil an important framework condition for growth. Second, effort to close the gap in educational attainment and performance in relation to the OECD area would put Brazil in a better stead to compete in international trade.

Keywords:   economic growth, economic performance, economic development, macroeconomic policies, macroeconomic adjustment, structural reforms

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