Is There a New Brazilian Model of Development? Main Findings from the IRIBA Research Programme

It has been suggested that Brazil's unexpected successes in the last two decades are the outcome of a new model of development, with strong inclusive growth at its core. The paper reviews the main findings of the IRIBA research programme examining the contribution of macroeconomic stability and financial reform, agricultural exports and productivity, and social policies to inclusive growth. Based on this research, the paper argues that Brazil's recent success is due to a unique combination of economic and social policies and institutions working together and reinforcing each other