The rapid growth hypothesis. New arguments

Vol. 32 No. 1 (2012)

Jan-Mar / 2012
Published January 1, 2012
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Barros de Castro, Antonio. 2012. “The Rapid Growth Hypothesis. New Arguments”. Brazilian Journal of Political Economy 32 (1):3-20.

The rapid growth hypothesis. New arguments

Antonio Barros de Castro
Antonio Barros de Castro (1938-2011) foi professor titular de Economia na Universidade Federal do Rio de Janeiro e presidente do BNDES no governo Itamar Franco (1992-93).
Brazilian Journal of Political Economy, Vol. 32 No. 1 (2012), Jan-Mar / 2012, Pages 3-20


After the 1981-2003 quasi-stagnation, the Brazilian economy signals that it is back to fast growth. The aborted growth spurts in this period accumulated an expansion potential that is now emerging. The growth frustration was particularly significant in the case of the growth surge beginning in 1999, as an outcome of the large 1999 depreciation of the real and the substantial 1990s increase of productivity. Now this repressed growth is being spontaneously liberated. It may be additionally liberated by adequate economic policies. Improvements in macroeconomic policy and the implementation of mini micro reforms are consistent with this incremental approach. 

JEL Classification: O54.

Keywords: quasi-stagnation fast growth incremental approach