As origens e a gênese do Plano Collor

Detalhes bibliográficos
Autor(a) principal: Carvalho, Carlos Eduardo
Data de Publicação: 2009
Tipo de documento: Artigo
Idioma: por
Título da fonte: Nova Economia (Online)
Texto Completo: https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/464
Resumo: The blockage of financial asset liquidity in March 1990, known as the Collor Plan – one of the most drastic state interventions in the Brazilian economy ever –, originated in the debate over the failure of previous stabilization policies, especially the heterodox shocks of the Sarney government. This intervention was an attempt to tackle, at the sametime, the three problems identified with the shocks: (i) the tendency for accelerated monetization and for an explosion in demand in moments of abrupt reduction of the inflation; (ii) the implications of high liquidity of financial assets and “indexed money” and (iii) the precarious financing of the public debt. The debate pointed to the possibility and even the need for non-conventional measures to be taken in relation to these three problems. The Collor Plan itself began to be formatted by the president-lect’s advisors at the end of December 1989, after his victory in the runoff election. The final draft was probably strongly influenced by a document discussed by the advisors of PMDB party candidate Ulysses Guimarães, and later by advisors of PT party candidate Luís Inácio Lula da Silva, during the period between the general election and the runoff. In spite of the differences in their general economic strategies, these competing candidates failed to develop their own stabilization policies at a time of rapid price increases and risk of hyperinflation during the second half of 1989. The proposal to block liquidity originated in academic debate and was imposed upon the main presidential candidacies.
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spelling As origens e a gênese do Plano CollorAs origens e a gênese do Plano CollorCollor Planblockage of liquidityPlano Collorbloqueio da liquidezThe blockage of financial asset liquidity in March 1990, known as the Collor Plan – one of the most drastic state interventions in the Brazilian economy ever –, originated in the debate over the failure of previous stabilization policies, especially the heterodox shocks of the Sarney government. This intervention was an attempt to tackle, at the sametime, the three problems identified with the shocks: (i) the tendency for accelerated monetization and for an explosion in demand in moments of abrupt reduction of the inflation; (ii) the implications of high liquidity of financial assets and “indexed money” and (iii) the precarious financing of the public debt. The debate pointed to the possibility and even the need for non-conventional measures to be taken in relation to these three problems. The Collor Plan itself began to be formatted by the president-lect’s advisors at the end of December 1989, after his victory in the runoff election. The final draft was probably strongly influenced by a document discussed by the advisors of PMDB party candidate Ulysses Guimarães, and later by advisors of PT party candidate Luís Inácio Lula da Silva, during the period between the general election and the runoff. In spite of the differences in their general economic strategies, these competing candidates failed to develop their own stabilization policies at a time of rapid price increases and risk of hyperinflation during the second half of 1989. The proposal to block liquidity originated in academic debate and was imposed upon the main presidential candidacies.O bloqueio da liquidez da maior parte dos haveres financeiros em março de 1990, o Plano Collor, uma das mais drásticas intervenções do Estado na economia no Brasil, teve origens no debate sobre o fracasso das políticas de estabilização dos anos anteriores, em especial os choques heterodoxos do governo Sarney. O bloqueio procurou enfrentar, de uma só vez, os três problemas identificados nos choques: (i) a tendência de monetização acelerada e de explosão da demanda emmomentos de desinflação abrupta, (ii) as implicações da elevada liquidez dos haveres financeiros e da “moeda indexada” e (iii) as precárias condições de financiamento da dívida pública mobiliária. O debate apontava para a possibilidade e mesmo para a necessidade de medidas não convencionais em relação aos três problemas. A gênese do Plano Collor, ou seja, como e quando foi formatado o programa propriamente dito, desenvolveu-se na assessoria de Collor a partir do final de dezembro de 1989, depois da vitória no segundo turno. O desenho final foi provavelmente muito influenciado por umdocumento discutido na assessoria do candidato do PMDB, Ulysses Guimarães, e depois na assessoria do candidato do PT, Luís Inácio Lula da Silva, entre o primeiro turno e o segundo. Apesar das diferenças nas estratégias econômicas gerais, as candidaturas que se enfrentavam em meio à forte aceleração da alta dos preços, submetidas aos riscos de hiperinflação aberta no segundo semestre de 1989, não tinhampolíticas de estabilização próprias. A proposta de bloqueio teve origem no debate acadêmico e se impôs às principais candidaturas presidenciais.Departamento de Ciências Econômicas da UFMG2009-06-03info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistas.face.ufmg.br/index.php/novaeconomia/article/view/464Nova Economia; Vol. 16 No. 1 (2006)Nova Economia; v. 16 n. 1 (2006)1980-53810103-6351reponame:Nova Economia (Online)instname:Universidade Federal de Minas Gerais (UFMG)instacron:UFMGporhttps://revistas.face.ufmg.br/index.php/novaeconomia/article/view/464/460Carvalho, Carlos Eduardoinfo:eu-repo/semantics/openAccess2020-08-11T04:26:59Zoai:ojs.pkp.sfu.ca:article/464Revistahttps://revistas.face.ufmg.br/index.php/novaeconomiaPUBhttps://revistas.face.ufmg.br/index.php/novaeconomia/oai||ne@face.ufmg.br1980-53810103-6351opendoar:2020-08-11T04:26:59Nova Economia (Online) - Universidade Federal de Minas Gerais (UFMG)false
dc.title.none.fl_str_mv As origens e a gênese do Plano Collor
As origens e a gênese do Plano Collor
title As origens e a gênese do Plano Collor
spellingShingle As origens e a gênese do Plano Collor
Carvalho, Carlos Eduardo
Collor Plan
blockage of liquidity
Plano Collor
bloqueio da liquidez
title_short As origens e a gênese do Plano Collor
title_full As origens e a gênese do Plano Collor
title_fullStr As origens e a gênese do Plano Collor
title_full_unstemmed As origens e a gênese do Plano Collor
title_sort As origens e a gênese do Plano Collor
author Carvalho, Carlos Eduardo
author_facet Carvalho, Carlos Eduardo
author_role author
dc.contributor.author.fl_str_mv Carvalho, Carlos Eduardo
dc.subject.por.fl_str_mv Collor Plan
blockage of liquidity
Plano Collor
bloqueio da liquidez
topic Collor Plan
blockage of liquidity
Plano Collor
bloqueio da liquidez
description The blockage of financial asset liquidity in March 1990, known as the Collor Plan – one of the most drastic state interventions in the Brazilian economy ever –, originated in the debate over the failure of previous stabilization policies, especially the heterodox shocks of the Sarney government. This intervention was an attempt to tackle, at the sametime, the three problems identified with the shocks: (i) the tendency for accelerated monetization and for an explosion in demand in moments of abrupt reduction of the inflation; (ii) the implications of high liquidity of financial assets and “indexed money” and (iii) the precarious financing of the public debt. The debate pointed to the possibility and even the need for non-conventional measures to be taken in relation to these three problems. The Collor Plan itself began to be formatted by the president-lect’s advisors at the end of December 1989, after his victory in the runoff election. The final draft was probably strongly influenced by a document discussed by the advisors of PMDB party candidate Ulysses Guimarães, and later by advisors of PT party candidate Luís Inácio Lula da Silva, during the period between the general election and the runoff. In spite of the differences in their general economic strategies, these competing candidates failed to develop their own stabilization policies at a time of rapid price increases and risk of hyperinflation during the second half of 1989. The proposal to block liquidity originated in academic debate and was imposed upon the main presidential candidacies.
publishDate 2009
dc.date.none.fl_str_mv 2009-06-03
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dc.identifier.uri.fl_str_mv https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/464
url https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/464
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/464/460
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Departamento de Ciências Econômicas da UFMG
publisher.none.fl_str_mv Departamento de Ciências Econômicas da UFMG
dc.source.none.fl_str_mv Nova Economia; Vol. 16 No. 1 (2006)
Nova Economia; v. 16 n. 1 (2006)
1980-5381
0103-6351
reponame:Nova Economia (Online)
instname:Universidade Federal de Minas Gerais (UFMG)
instacron:UFMG
instname_str Universidade Federal de Minas Gerais (UFMG)
instacron_str UFMG
institution UFMG
reponame_str Nova Economia (Online)
collection Nova Economia (Online)
repository.name.fl_str_mv Nova Economia (Online) - Universidade Federal de Minas Gerais (UFMG)
repository.mail.fl_str_mv ||ne@face.ufmg.br
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