Brazil as an emerging economy: a new economic miracle?
Brazilian Journal of Political Economy, Vol. 32 No. 3 (2012), Jul-Sep / 2012, Pages 412-423
This article shows that abundant resources and blind faith in an optimistic future cannot result in sustainable growth in Brazil. There are great deficiencies in various areas which make sustained high growth rates almost impossible to achieve, such as the low investment ratio, deficiencies in creating human capital, high interest rates leading to an uncompetitive exchange rate and a lack of infrastructural development.
JEL Classification: O11; O12; O43; O54.
Keywords: growth infrastructure investment exchange rate equity