중남미
연구정보
[경제] Combination of economic policies: how the perfect storm wrecked the Brazilian economic growth
브라질 국외연구자료 연구보고서 Springer 발간일 : 2022-01-08 등록일 : 2022-02-09 원문링크
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This study uses a counterfactual analysis to investigate, from the Brazilian experience, the “perfect storm” resultant from the combination of economic policies on economic growth. Specifically, we analyze whether the combination of economic policies that neglect fiscal balance and low and stable inflation with the adoption of strategies to stimulate economic growth without considering the side effects on the economy harmed economic growth. Our findings, robust to several placebo tests, show Brazil’s growth rate is approximately 2.8 pp below the “synthetic Brazil” growth rate. Furthermore, comprehending the great shocks in the period under investigation, the complementary empirical analysis supports the view that the “perfect storm” is the main factor explaining the underperformance of the Brazilian economic growth.
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