This paper reviews Brazil’s growth performance over the last quarter of a century and discusses the main determinants of a pick-up in growth since the mid-1990s. Emphasis is placed on the policy pay-offs associated with a consolidation of macroeconomic adjustment, which is a pre-condition for sustained growth. Structural reform based on a liberalization of the county’s trade and investment regimes have also generated productivity gains that have supported growth. The paper also discusses a number of policy challenges that will need to be addressed in the coming years to ensure that high growth can sustained over the longer term.
de Mello, L. Brazil&#8217;s Growth Performance: Achievements and Prospects. UNU-WIDER, Helsinki, Finland (2009) 24 pp. ISBN 978-92-9230-234-4 [WIDER Research Paper No. 2009/55]