Crise e perspectivas para a economia brasileira

Abstract

This paper analyzes the performance of the Brazilian economy between 2003 and 2016, focusing particularly on the recent economic downturn and on the recession that ensued. Our analysis shows that there were many coordination problems in macroeconomic policy that made countercyclical policies ineffective in 2011-2014 (likewise with the contractionary policies of 2015), as well as problems related to exogenous shocks. The article assesses and suggests some economic policies - short- and long-term - that can contribute to overcome the economic crisis, highlighting in particular the need for proper coordination between short-term and long-term policies so as not to compromise sustainable economic growth.