Opções de política econômica

Detalhes bibliográficos
Autor(a) principal: Delfim Netto, Antonio
Data de Publicação: 1999
Tipo de documento: Artigo
Idioma: por
Título da fonte: Economia Aplicada
Texto Completo: https://www.revistas.usp.br/ecoa/article/view/222284
Resumo: Through empirical and theoretical evidences, this article identifies and appraises four relevant policy mistakes incurred during the Real Plan. The first mistake was the common belief that strong currency means strong economy; the second, because of the inflationary memory of the recent past, was the fear that devaluation of the exchange rate would be translated fully into price increases; the third error asserts that, in a globalized world, the existence of sufficient foreign savings would finance any level of current account deficit; the fourth misjudgment asserts that the increase of the overall productivity of the Brazilian economy could be pursued by the overvaluation of the exchange rate and by the expanding insertion of the multinational corporations. Those mistakes contributed to increase the foreign constraints, historically the main restraint to Brazilian development.
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spelling Opções de política econômicaEconomic policy optionsReal Planexchange rate policyexternal accountsPlano Realpolítica cambialcontas externasThrough empirical and theoretical evidences, this article identifies and appraises four relevant policy mistakes incurred during the Real Plan. The first mistake was the common belief that strong currency means strong economy; the second, because of the inflationary memory of the recent past, was the fear that devaluation of the exchange rate would be translated fully into price increases; the third error asserts that, in a globalized world, the existence of sufficient foreign savings would finance any level of current account deficit; the fourth misjudgment asserts that the increase of the overall productivity of the Brazilian economy could be pursued by the overvaluation of the exchange rate and by the expanding insertion of the multinational corporations. Those mistakes contributed to increase the foreign constraints, historically the main restraint to Brazilian development.Este trabalho identifica e avalia criticamente através de evidências empíricas e teóricas quatro equívocos relevantes da política econômica seguida durante o Piano Real. O primeiro foi a crença de que a moeda forte ajuda e construir uma economia forte; o segundo foi a desconfiança de que a memória de um longo processo inflacionário transfere para os preços todas as desvalorizações provocadas no câmbio; o terceiro diz que num mundo globalizado existem poupanças externas suficientes para financiar qualquer nível de déficit em conta corrente e ; quarto, que o aumento da produtividade da economia brasileira pode ser promovido pela valorização cambial e sua crescente absorção pelas empresas multinacionais. Estas concepções contribuíram para aumentar as limitações impostas pelo setor externo, historicamente a principal restrição da economia brasileira para o desenvolvimento.Universidade de São Paulo, FEA-RP/USP1999-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/22228410.11606/1413-8050/ea222284Economia Aplicada; Vol. 3 No. especial (1999); 5-13Economia Aplicada; v. 3 n. especial (1999); 5-13Economia Aplicada; Vol. 3 Núm. especial (1999); 5-131980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPporhttps://www.revistas.usp.br/ecoa/article/view/222284/202925Copyright (c) 1999 Economia Aplicadahttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessDelfim Netto, Antonio2024-05-15T04:42:21Zoai:revistas.usp.br:article/222284Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2024-05-15T04:42:21Economia Aplicada - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Opções de política econômica
Economic policy options
title Opções de política econômica
spellingShingle Opções de política econômica
Delfim Netto, Antonio
Real Plan
exchange rate policy
external accounts
Plano Real
política cambial
contas externas
title_short Opções de política econômica
title_full Opções de política econômica
title_fullStr Opções de política econômica
title_full_unstemmed Opções de política econômica
title_sort Opções de política econômica
author Delfim Netto, Antonio
author_facet Delfim Netto, Antonio
author_role author
dc.contributor.author.fl_str_mv Delfim Netto, Antonio
dc.subject.por.fl_str_mv Real Plan
exchange rate policy
external accounts
Plano Real
política cambial
contas externas
topic Real Plan
exchange rate policy
external accounts
Plano Real
política cambial
contas externas
description Through empirical and theoretical evidences, this article identifies and appraises four relevant policy mistakes incurred during the Real Plan. The first mistake was the common belief that strong currency means strong economy; the second, because of the inflationary memory of the recent past, was the fear that devaluation of the exchange rate would be translated fully into price increases; the third error asserts that, in a globalized world, the existence of sufficient foreign savings would finance any level of current account deficit; the fourth misjudgment asserts that the increase of the overall productivity of the Brazilian economy could be pursued by the overvaluation of the exchange rate and by the expanding insertion of the multinational corporations. Those mistakes contributed to increase the foreign constraints, historically the main restraint to Brazilian development.
publishDate 1999
dc.date.none.fl_str_mv 1999-03-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/222284
10.11606/1413-8050/ea222284
url https://www.revistas.usp.br/ecoa/article/view/222284
identifier_str_mv 10.11606/1413-8050/ea222284
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/222284/202925
dc.rights.driver.fl_str_mv Copyright (c) 1999 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 1999 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
dc.source.none.fl_str_mv Economia Aplicada; Vol. 3 No. especial (1999); 5-13
Economia Aplicada; v. 3 n. especial (1999); 5-13
Economia Aplicada; Vol. 3 Núm. especial (1999); 5-13
1980-5330
1413-8050
reponame:Economia Aplicada
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Economia Aplicada
collection Economia Aplicada
repository.name.fl_str_mv Economia Aplicada - Universidade de São Paulo (USP)
repository.mail.fl_str_mv ||revecap@usp.br
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