The Role of Fiscal and Monetary Policies in the Brazilian Economy: Understanding Recent Institutional Reforms and Economic Changes

15 Pages Posted: 16 Dec 2016

See all articles by José Afonso

José Afonso

Getulio Vargas Foundation (FGV) - Brazilian Institute of Economics

Eliane Araújo

Universidade Estadual de Maringá

Bernardo Guelber Fajardo

Getulio Vargas Foundation (FGV) - Brazilian School of Public and Business Administration (EBAPE)

Date Written: 2016

Abstract

Monetary and fiscal institutions have played a decisive role in the stabilisation of the Brazilian economy since the mid-1990s. In Brazil institutional reforms were predominantly made in response to a succession of internal and, particularly, external crises. Brazil's experience of designing and managing institutions to this end is likely to be of interest to other emerging and low- or middle-income economies. As such, the Brazilian experience offers many lessons to be learned, both in the sense of what could be done and what is better avoided.

Keywords: Fiscal policy; Monetary policy; Brazilian economy; Macroeconomic stability; Inflation; Fiscal responsibility

Suggested Citation

Afonso, José and Araújo, Eliane and Fajardo, Bernardo Guelber, The Role of Fiscal and Monetary Policies in the Brazilian Economy: Understanding Recent Institutional Reforms and Economic Changes (2016). Quarterly Review of Economics and Finance, Vol. 62, 2016, Available at SSRN: https://ssrn.com/abstract=2885927

José Afonso (Contact Author)

Getulio Vargas Foundation (FGV) - Brazilian Institute of Economics ( email )

Centro de Polticas Sociais - CPS
Rio de Janeiro 22253-900
Brazil

Eliane Araújo

Universidade Estadual de Maringá ( email )

Maringa Parana 87020-900
Brazil

Bernardo Guelber Fajardo

Getulio Vargas Foundation (FGV) - Brazilian School of Public and Business Administration (EBAPE) ( email )

Brazil

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