This paper is devoted to a quantitative assessment of Brazil's long-term growth experience. The analysis herein shows that savings alone do not explain the growth slump after 1980. Our explanation centers on the evolution of the output-capital ratio and on changes in the relative price of...

The last 20 years were a period of major political, economic, social, and institutional reform in Brazil. In the first half of the 1990s, reformers opened the economy to foreign trade and both direct and portfolio investment, sold off a number of large and traditional state-owned enterprises,...

Financial markets help to foster growth and productivity through their role in mobilizing savings to finance investment and production, selecting and monitoring investment projects, diversifying risks, and allowing investment and production to be carried out in the most productive scale and time...

The paper explores the relationship between total factor productivity change, output growth and variables related to trade orientation. The results for the Brazilian manufacturing industries indicate that factor productivity change is positively associated with output growth, the relationship...

Although Latin American and Caribbean countries have assigned a high priority to increasing exports in recent years-substantially transforming their economies in the process-export performance in most cases remains deficient. This book investigates why this is so, identifying the policies that...