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Begin New Search Topic International Trade and Finance Political Geography Brazil Content Type Policy Brief Publication Year within 25 Years

1. Brazil’s Perception of the Visegrad Group: Not a Strategic but a Prospective Partnership

Author:
Carolina Salgado and Marek Wasinski
Publication Date:
03-2016
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
The Visegrad Group is still a new label among policy makers as well as public and private investors, scholars and media in Brazil. However, since their accession to the EU in 2004, and the financial crisis that started in 2008, the four Central European countries in this group have started to look beyond Europe in order to formulate their economic and political agenda, aiming to boost partnerships, for example among the biggest South American countries such as Brazil. V4 and Brazil should build momentum to deepen cooperation in the most promising prospective areas such as trade, military, tourism and education.
Topic:
Economics, International Trade and Finance, Politics, and Financial Crisis
Political Geography:
Brazil

2. Do Public Development Banks Hurt Growth? Evidence from Brazil

Author:
Monica de Bolle
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Public lending by the Brazilian Development Bank (BNDES) may have done more harm than good in Brazil, adversely affecting real interest rates and productivity growth. Specifically, BNDES's large amounts of subsidized lending are responsible for substantial credit market segmentation, choking off monetary policy transmission. As a result, to maintain price stability the Central Bank of Brazil is forced to raise interest rates more than it might do otherwise in the absence of BNDES lending. Restoring Brazil's capacity to grow in the medium term requires a thorough rethinking of the role of BNDES. In particular, the bank's lending rates should be aligned with market prices, term and risk premia, while taking into account that, with an adequate transparency framework, public development banks can increase private sector participation instead of crowding it out.
Topic:
Development, Economics, International Trade and Finance, and Markets
Political Geography:
Brazil and Latin America

3. Estimates of Fundamental Equilibrium Exchange Rates, November 2014

Author:
William R. Cline
Publication Date:
11-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
This semiannual review finds that most of the major international currencies, including the US dollar, euro, Japanese yen, UK pound sterling, and Chinese renminbi, remain close to their fundamental equilibrium exchange rates (FEERs). The new estimates find this result despite numerous significant exchange rate movements associated with increased volatility in international financial markets at the beginning of the fourth quarter of 2014, and despite a major reduction in the price of oil. The principal cases of exchange rate misalignment continue to be the undervalued currencies of Singapore, Taiwan, and to a lesser extent Sweden and Switzerland, and the overvalued currencies of Turkey, New Zealand, South Africa, and to a lesser extent Australia and Brazil. Even so, the medium-term current account deficit for the United States is already at the outer limit in the FEERs methodology (3 percent of GDP), and if the combination of intensified quantitative easing in Japan and the euro area with the end to quantitative easing in the United States were to cause sizable further appreciation of the dollar, an excessive US imbalance could begin to emerge.
Topic:
Economics, Foreign Exchange, International Trade and Finance, and Monetary Policy
Political Geography:
Africa, United States, Japan, Turkey, South Africa, Brazil, and New Zealand

4. Engaging Indonesia

Author:
David Camroux
Publication Date:
09-2013
Content Type:
Policy Brief
Institution:
European Union Institute for Security Studies
Abstract:
The presence of Indonesian President Susilo Bambang Yudhoyono at the G20 Summit in St Petersburg in early September went virtually unnoticed by the European media. That his attendance was overlooked can be explained by immediate factors, namely the overriding importance of the Syrian conflict in the discussions among leaders, and the fact that SBY (as President Yudhoyono is commonly known) is a lame-duck president with less than a year to go before the end of his two-term limit. Lacking BRIC status (for now at least), Indonesia – unlike China, India or even Brazil – barely registers on the radar screen of public awareness in Europe. Symptomatic of this neglect is the fact that, almost four years after its signing in November 2009, two EU member state parliaments (and the European Parliament itself) have yet to ratify the EU-Indonesia Partnership and Cooperation Agreement.
Topic:
Foreign Policy, Defense Policy, Economics, International Trade and Finance, Treaties and Agreements, and Bilateral Relations
Political Geography:
China, Europe, India, Brazil, Syria, and Southeast Asia

5. The European Union and Brazil as Privileged Partners? Difficult Path to an Authentic Strategic Partnership

Author:
Bartlomiej Znojek
Publication Date:
01-2012
Content Type:
Policy Brief
Institution:
The Polish Institute of International Affairs
Abstract:
Dilma Rousseff took over the presidency of Brazil a year ago. Her government's policy has been marked by a general continuity of the directions set during President Luiz Inacio Lula da Silva's tenure (2003–2010). The largest Latin American country keeps growing economically and improving in social indicators, and at the same time is gaining ground as an increasingly influential global player.
Topic:
Economics, Emerging Markets, International Trade and Finance, and Bilateral Relations
Political Geography:
America, Europe, and Brazil

6. Is Chinese FDI pushing Latin America into natural resources?

Author:
Miguel Pérez Ludeña
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
Chinese foreign direct investment (FDI) in Latin America is a recent phenomenon. Although the China National Petroleum Corporation and other companies have been present in Peru, Ecuador and Venezuela since the early 1990s, large projects have been pursued only since 2006, following an extended period of high commodity prices. The Economic Commission for Latin America and the Caribbean (ECLAC) estimated that there were US$ 15 billion of Chinese FDI inflows into Latin America in 2010, 90% of which were in extractive industries. This further contributed to the already high percentage of Chinese FDI flows to the region that are in natural resources. At a time of high economic growth fueled by commodity exports and strong currency appreciation (particularly in Brazil), FDI into extractive industries strengthens the region's specialization in primary products at the expense of manufacturing and other activities.
Topic:
Economics, International Trade and Finance, Markets, Natural Resources, and Foreign Direct Investment
Political Geography:
China, Brazil, Latin America, and Peru

7. EIU: Global outlook summary

Publication Date:
06-2012
Content Type:
Policy Brief
Institution:
Economist Intelligence Unit
Abstract:
The global economy remains in precarious shape. Europe's debt crisis rages on, and although the euro appears to have survived its most recent test in the form of the Greek election on June 17th, austerity and financial-market uncertainty are depressing economic activity in Europe and, by extension, in much of the rest of the world. The Economist Intelligence Unit continues to expect global GDP growth to slow in 2012, and while our forecasts for the G3 economies—the US, euro zone and China—are essentially unchanged this month, we have cut our projections for Brazil and India.
Topic:
Debt, Economics, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
United States, China, Europe, India, and Brazil

8. The concept of "rising powers"

Author:
Pinar Tank
Publication Date:
06-2012
Content Type:
Policy Brief
Institution:
Norwegian Centre for Conflict Resolution
Abstract:
The end of the cold war and the bipolar world order heralded an era of transition for global governance. Twenty years on there is still no consensus on the status of the distribution and exercise of power in today's multipolar world. What is clear, however, is the rise of new powers seeking a global political role comparable with their increased economic clout. Often referred to as the BRICS – Brazil, Russia, India, China, and South Africa – to which second-tier powers such as Indonesia, Turkey and Mexico can be added, these states are called “rising powers” or “new powers” because of their rapid economic development, and expanding political and cultural influence.
Topic:
Cold War, Development, Economics, Emerging Markets, Globalization, International Trade and Finance, and Governance
Political Geography:
Africa, Russia, China, India, and Brazil

9. Can Asia Learn from Brazil's Agricultural Success?

Author:
Paul Teng and Margarita Escaler
Publication Date:
10-2010
Content Type:
Policy Brief
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
Over the last four decades, Brazil has transformed its agricultural sector to become the first tropical agricultural giant and the first to challenge the dominance of the world's major food exporters. This paper examines the secrets of Brazil's success and ponders whether Asia should try to emulate the Brazilian model to help achieve food security for its people and contribute to an increased level of selfsufficiency in the region.
Topic:
Agriculture, International Trade and Finance, and Food
Political Geography:
Asia, Brazil, and Latin America

10. Currency Wars?

Author:
William R. Cline and John Williamson
Publication Date:
11-2010
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
A widespread currency war is in prospect. The term was first introduced by Guido Mantega, the finance minster of Brazil. He envisaged the International Monetary Fund (IMF) developing an index that measures whether currencies are held artificially low to boost exports (popularly referred to as “currency manipulation”). If that IMF exercise did not lead to an easing of such exchange market intervention, he suggested that an undervalued exchange rate could eventually be considered a commercial subsidy.
Topic:
Economics, International Cooperation, International Trade and Finance, and Monetary Policy
Political Geography:
Brazil

11. The growth of Brazil's direct investment abroad and the challenges it faces

Author:
Luís Afonso Lima and Octavio de Barros
Publication Date:
08-2009
Content Type:
Policy Brief
Institution:
Columbia Center on Sustainable Investment
Abstract:
The internationalization of Brazilian companies is a relatively recent phenomenon. From 2000 to 2003, outward foreign direct investment (OFDI) averaged USD 0.7 billion a year. Over the four-year period 2004−2008, this average jumped to nearly USD 14 billion. In 2008, when global FDI inflows were estimated to have fallen by 15%, OFDI from Brazil almost tripled, increasing from just over USD 7 billion in 2007 to nearly USD 21 billion in 2008 (annex figure 1 below). Central Bank data put the current stock of Brazilian OFDI at USD 104 billion, an increase of 89% over 2003. Caution is in order about these figures, however, as in Brazilian outflows it is difficult to separate authentic FDI from purely financial investment under the guise of FDI. According to the most recent data, 887 Brazilian companies have invested abroad.
Topic:
Economics, International Trade and Finance, Markets, and Foreign Direct Investment
Political Geography:
Brazil and Latin America

12. Economic Survey of Brazil, 2005

Publication Date:
03-2005
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
This Survey's general assessment is that Brazil is currently reaping the benefits of macroeconomic consolidation, underpinned by a prudent policy stance. Much progress has been made in fiscal consolidation and monetary policy continues to be conducted in a forward- looking manner. The external adjustment has been remarkable, with continued strong export performance, making the economy more resilient to changes in market sentiment. These achievements owe much to the strengthening of institutions, in particular the inflation targeting framework and the Fiscal Responsibility legislation. The economic recovery is now firmly established. But the consolidation of macroeconomic stability remains essential moving forward, coupled with further structural reform, to ensure that the positive outlook ushers in a virtuous circle of improved confidence and resilient, equitable growth.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Brazil and South America

13. Brazil: The End of a Honeymoon

Author:
Mark Falcoff
Publication Date:
07-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
When Luiz Inácio "Lula" da Silva was elected president of Brazil in October 2002, popular expectations nearly across the political spectrum were so enormous that he was bound to disappoint someone. Indeed, what is remarkable about the present situation in Brazil is just how popular Lula remains (60 percent approval rating) in spite of a conservative fiscal policy, a modest uptick in the unemployment figures, a willingness to expend valuable political capital on pension and tax reforms, a financial scandal involving his chief of staff, and an embarrassing threat to expel a New York Times journalist.
Topic:
International Relations, International Trade and Finance, and Political Economy
Political Geography:
New York, Brazil, South America, and Central America

14. The IMF's Dilemma in Argentina: Time for a New Approach to Lending?

Author:
Carol Graham and Paul Robert Masson
Publication Date:
11-2002
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
In recent years, the international financial system has faced tremendous challenges, from the Asia, Russia, and Brazil crises in the late 1990s, to Argentina's default and ensuing economic collapse in 2002 to new worries about a possible default in Brazil. An increasing number of observers are questioning the way the international financial institutions manage these crises. An alternative approach that is endorsed in principle by many—including Horst Köhler, the new managing director of the International Monetary Fund (IMF)—is a move toward more selective lending with fewer conditions, with the decision to lend based on a more general and ultimately political assessment of the recipient government's capacity to deliver on its promises. Argentina provides a potential test bed for this approach.
Topic:
International Organization and International Trade and Finance
Political Geography:
Russia, Asia, Brazil, Argentina, South America, and Latin America

15. Is Brazil Next?

Author:
John Williamson
Publication Date:
08-2002
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
This policy brief examines whether the pessimism that recently gripped the financial markets about Brazil's economic prospects is justified, and whether the big IMF program in support of Brazil announced on August 8, 2002, is likely to succeed in turning the tide. It concludes that present policies would be adequate to secure a gradual reduction in the debt/GDP ratio given return of the exchange rate to a less undervalued level and a level of interest rates that is normal by past Brazilian standards though still high by world standards, though not under the recent conditions of a severely undervalued real and astronomical interest rates. It also concludes that the strongly improving trend recently evident in Brazilian trade promises a progressive reduction in external vulnerability, though this again could be jeopardized by the maintenance of sky-high interest rates. It then argues that, despite the mixed records of the two principal opposition candidates for the presidency, neither would be likely to choose a policy of deliberately reneging on Brazil's debts. That being so, the recent market turbulence has to be interpreted as a panic in which even those convinced that Brazil's fundamentals are sound did not dare to speculate in favor of restoration of normality. Such situations are exactly those where the IMF can play a useful role in breaking a panic, and hence the new loan much improves the chances of Brazil avoiding the implosion that would be likely to follow a debt restructuring.
Topic:
Economics and International Trade and Finance
Political Geography:
Brazil and South America

16. Brazil — IMF Agreement

Publication Date:
08-2001
Content Type:
Policy Brief
Institution:
Oxford Analytica
Abstract:
The real is stabilising against the dollar following the announcement of the latest draft agreement between Brazil and the IMF on August 3. The provision of additional resources by the Fund is designed to support the value of the real and prevent the Brazilian economy from sliding into recession.
Topic:
International Organization, International Trade and Finance, and United Nations
Political Geography:
Brazil and Latin America