Abstract
The Brazilian economy grew only 1.8 percent per annum on average in 2011–2012, in contrast with growth of 3.6 percent per annum in 2001–2010. In spite of the change in the economic policy mix (notably a sharp reduction in the interest rate and currency devaluation) and a fiscal stimulus to manufacturing firms (including a reduction of the tax on some manufactured products and exemption of the payroll in various manufacturing sectors, etc.), economic growth dropped in 2012 (0.9 percent). Such a performance has given rise to some criticism from orthodox economists related to the efficacy of activist economic policy that seeks to to boost sustained growth in Brazil.
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© 2015 Luiz Fernando de Paula, André de Melo Modenesi, and Manoel Carlos C. Pires
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de Paula, L.F., de Melo Modenesi, A., Pires, M.C.C. (2015). The Brazilian Economy after the Global Crisis: An Assessment of the Economic Slowdown in 2011–2012. In: Pereira, A.W., Mattei, L. (eds) The Brazilian Economy Today. Palgrave Macmillan, London. https://doi.org/10.1057/9781137549815_3
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DOI: https://doi.org/10.1057/9781137549815_3
Publisher Name: Palgrave Macmillan, London
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