Abstract
This paper begins with a description of the main characteristics of Brazil's Real stabilization program and its initial success in eliminating inflation. It then examines the use of the exchange rate to keep inflation in check and the problems which overvaluation created. It also focuses on the structural desequilibria it faced and the various artifices that were used to deal with them but which ultimately led to a set of contradictions that brought about its collapse. (C) 2000 Elsevier Science Ltd. All rights reserved.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 1805-1819 |
| Number of pages | 15 |
| Journal | World Development |
| Volume | 28 |
| Issue number | 10 |
| DOIs | |
| State | Published - 2000 |
Keywords
- Banking
- Exchange rate
- Inflation
- Privatization
- Stabilization
ASJC Scopus subject areas
- Geography, Planning and Development
- Development
- Sociology and Political Science
- Economics and Econometrics