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Developing Brazil - Overcoming the Failure of the Washington Consensus (BOOK, 2009)

Luiz Carlos Bresser-Pereira

Boulder, CO: Lynne Rienner Publishers, 2009.

2009 capa developing brazil overcoming the failute of the washington consensus

After the 1994 Real Plan ended fourteen years of high inflation in Brazil, the economy was expected - mistakenly - to grow quickly. The book discusses Brazilian economic trajectory from the mid-1990s to the present Lula administration, critically appraising the neoliberal reforms that have curtailed growth and proposing a national development strategy geared toward effective competition in the global marketplace. An encompassing analysis of the Brazilian macroeconomic system. The failure of the Washington consensus or of conventional orthodoxy in making Brazil to catch up after the 1994 Real Plan stabilized high and inertial inflation.

Translation of Macroeconomia da Estagnação (2007).

Available at

Review by K. P. Jameson




1. Low growth
2. The old developmentalism
3. Reforms and institutions
4. The fiscal debate
5. Is inflation a real threat?
6. Overappreciated currency and the Dutch disease
7. Overappreciation and foreign savings
8. High interest rates
9. A macroeconomic model
10. Political coalitions
11. New developmentalism

List of acronyms



About the book