Do liberal policy regimes condemn Latin America to quasi-stagnation?

• Autor(a) principal: Bresser-Pereira, Luiz Carlos
• Data de Publicação: 2021
• Outros Autores: Feijó, Carmem, Araújo, Eliane Cristina de
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
• Texto Completo: https://hdl.handle.net/10438/30212
• topic: Liberal regimes; Developmental regimes; Foreign constraint; Current account deficits; Exchange rate; Economia; Regimes políticos; Liberalismo; Taxas de câmbio

Police regimes are incompatible with economic growth because liberal economists don’t see industrialization as a condition for economic development; because they pressed for trade liberalization, ignoring that the import tariffs were a way of neutralizing the Dutch disease; beause they don’t see that the growth with foreign indebtedness policy as well as the use of the exchange rate as an anchor to control inflation harm growth because the required capital inflows to finance the respective current account deficits appreciate the national currency, and, so, stimulate consumption while discourages investment; because the austerity programs that they defend are rather a way of defending the interests of rentiers and financiers than a sound macroeconomic policy.