Macroeconomic constraints to growth of Brazilian economy diagnosis and some policy proposals

The recent process of accelerated expansion of the Brazilian economy was driven by exports and fixed capital formation. Although the pace of growth was more robust than in the 1990´s, we can still witness the existence of certain macroeconomic constraints to its continuation in the long run such as, for instance, the exchange rate overvaluation in particular since 2005, and in general the modus operandi of monetary policy. Such constraints may jeopardize the sustainability of the current pace of growth. Therefore, we argue that Brazil still lies in a trap made up of high interest and low exchange rates. The elimination of the exchange rate misalignment would bring about a great increase in the rate of interest, which on its turn would impact negatively upon investment and hence upon the sustainability of long run economic growth. We outline a set of policy measures to eliminate such a trap, in particular, the adoption of an implicit target for the exchange rate, capital controls and the abandonment of the present regime of inflation targeting. Recent events seem to go in this direction.

The trajectory of social housing policy in Brazil: From the National Housing Bank to the Ministry of the Cities

This paper discusses social housing policy in Brazil since the 1990s by analyzing government programs’ institutional arrangements, their sources of revenues and the formatting of related financial systems. The conclusion suggests that all these arrangements have not constituted a comprehensive housing policy with the clear aim of serving to enhance housing conditions in the country. Housing ‘policies’ since the 1990s – as proposed by Fernando Collor de Mello, Itamar Franco, Fernando Henrique Cardoso and ´ Luis Inacio Lula da Silva’s governments (in the latter case, despite much progress towards subsidized investment programs) – have sought to consolidate financial instruments in line with global markets, restructuring the way private interests operate within the system, a necessary however incomplete course of action. Different from rhetoric, this has resulted in failure as the more fundamental social results for the poor have not yet been achieved.

Economic Survey of Latin America and the Caribbean 2007-2008: Macroeconomic policy and volatility

Includes bibliography

Economic Survey of Latin America and the Caribbean 2010-2011: Internacional integration and macroeconomic policy challenges amid global economic turmoil

Includes bibliography

Foreign Investment in Latin America and the Caribbean 2005

Includes bibliography

Foreign Investment in Latin America and the Caribbean 2006

Includes bibliography

Foreign Direct Investment in Latin America and the Caribbean 2007

Includes bibliography

Investment and economic reform in Latin America

Includes bibliography

Forum for East Asia-Latin America Cooperation (FEALAC): new biregional trade and investment relations in a changing world economic environment$c

Includes bibliography

Evolution of fiscal policy in the Caribbean: based on data for the period 1987-1996

Includes bibliography

Building SME competitiveness in the European Union and Latin America and the Caribbean: policy proposals by the private sector

Includes bibliography

The Role of Tax Policy in the Context of the Global Crisis: consequences and prospects

Includes bibliography

E-commerce environment and trade promotion for Latin America: policy implications from East Asian and advanced economies' experiences

Includes bibliography

Multilateral rules on competition policy: an overview of the debate

Includes bibliography

Trade and investment rules: Latin American perspectives

Includes bibliography