A crise financeira de 2008

Luiz Carlos Bresser-Pereira; Maryse Farhi; Daniela Magalhães Prates; Maria Cristina Penido de Freitas; Marcos Antonio Macedo Cintra; Jennifer Hermann; Ana Rosa Ribeiro de Mendonça; Fernando Ferrari Filho; Luiz Fernando de Paula; João Sicsú; José Luís da Costa Oreiro; Flávio Augusto Correa Basilio; Paulo Gala

Vol. 29 No. 1 (2009)

Jan-Mar / 2009

Published January 1, 2009

PDF-Portuguese (Português (Brasil))

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Bresser-Pereira, Luiz Carlos, Maryse Farhi, Daniela Magalhães Prates, Maria Cristina Penido de Freitas, Marcos Antonio Macedo Cintra, Jennifer Hermann, Ana Rosa Ribeiro de Mendonça, Fernando Ferrari Filho, Luiz Fernando de Paula, João Sicsú, José Luís da Costa Oreiro, Flávio Augusto Correa Basilio, and Paulo Gala. 2009. “The 2008 Financial Crisis”. Brazilian Journal of Political Economy 29 (1):133-49. https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/474.

The 2008 financial crisis

Luiz Carlos Bresser-Pereira

Professor Emérito da FGV-SP

https://orcid.org/0000-0001-8679-0557

Maryse Farhi

Professora do IE-Unicamp e pesquisadora do Centro de Estudos de Conjuntura e Política Econômica - CECON

https://orcid.org/0000-0003-1475-8595

Daniela Magalhães Prates

Professora do IE-Unicamp e pesquisadora Cecon. Pesquisadora do CNPq

https://orcid.org/0000-0001-9408-8768

Maria Cristina Penido de Freitas

Doutora pela Universidade Paris XIII e pesquisadora do Cecon

https://orcid.org/0000-0003-4209-4570

Marcos Antonio Macedo Cintra

Professor do IE-Unicamp e pesquisador do CNPq.

https://orcid.org/0000-0002-6797-8412

Jennifer Hermann

Professora Adjunta do Instituto de Economia da Universidade Ferderal do Rio de Janeiro (IE/UFRJ)

Ana Rosa Ribeiro de Mendonça

Professora Assistente do Instituto de Economia da UNICAMP

https://orcid.org/0000-0003-3521-188X

Fernando Ferrari Filho

Professor Titular da FCE/UFRGS e Presidente da Associação Keynesiana Brasileira

https://orcid.org/0000-0001-5600-7058

Luiz Fernando de Paula

Professor Adjunto da FCE/UERJ e Vice-Presidente da Associação Keynesiana Brasileira

https://orcid.org/0000-0001-9770-516X

João Sicsú

Diretor de Estudos Macroeconômicos do IPEA e professor do IE-UFRJ

https://orcid.org/0000-0003-3997-7129

José Luís da Costa Oreiro

Professor do Departamento de Economia da UnB e Pesquisador Nível I do CNPq

https://orcid.org/0000-0001-8955-8868

Flávio Augusto Correa Basilio

Doutorando em Economia pela Universidade de Brasília (UnB)

https://orcid.org/0000-0003-2268-1743

Paulo Gala

Professor da Escola de Economia de São Paulo – FGV/SP

https://orcid.org/0000-0002-1972-1188

Brazilian Journal of Political Economy, Vol. 29 No. 1 (2009), Jan-Mar / 2009, Pages 133-149

Abstract

In developing countries there is a tendency to the overvaluation of the exchange rate. It has two structural causes: the Dutch disease and the attraction that higher profit and interest rates usually prevailing in developing countries exert on foreign capitals, and four policy causes: the growth with foreign savings policy, the control of inflation to exchange rate anchors, the ‘capital deepening’ policy, and exchange rate populism. Either the country neutralizes this tendency and grows fast, or does not and will suffer cyclical balance of payment crises.

Vol. 29 No. 1 (2009)

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The 2008 financial crisis

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