2003. The perverse macroeconomic model of the Brazilian economy combining high interest rate and low exchange rate with growth with foreign savings and quasi-stagnation. (Paper: Análise Econômica)*
BRAZILIAN ECONOMY
ALL TEXTS ON BRAZILIAN ECONOMY
High interest rates are ineffective against a predominantly inertial inflation. (Article in Folha de S.Paulo).
2003. The Second Washington Consensus (growth with foreing savings and open capital account) means macroeconomic instability. (Folha de S.Paulo, 11.5.2003).
2003. Brazilian elites stoped thinking and the country is in a real 'credibility trap'. (Large interview to Jornal do Commercio, 23.3.03)
2002. Review of Celso Furtados book Em Busca de Novo Modelo. (Revista de Economia Política)
2002. The growth cum foreign savings strategy and the consequent exchange rate evaluation is the basic cause behind Cardoso administration's poor economic performance. (Revista de Economia Politica, 23(3) July 2003).*
2002. The growth cum foreign savings strategy and the consequent exchange rate overevaluation is the basic cause behind Cardoso administration's poor economic performance. Portuguese version available: O Segundo Consenso de Washington e a Quase-Estagnação da Economia Brasileira. (Paper: BNDES 50 Years)*
2002. The present balance of payments crisis is coupled by recession. Government support business enterprises.
(Article in Valor Econômico)
2002. The Brazilian national revolution will only be completed when its people gets rid of its colonial inferiority complex. (Article: Folha de S.Paulo, 7.8)
2001. With Yoshiaki Nakano. A critique of economic policy - particularly of the high interest rates - adopted from 1995. Originally it was written as a document to PSDB. It is one of the founding papers of New Developmentalism. Spanish version available. (Paper/document: Revista de Economia Política, July 2002).*
2001 With Yoshiaki Nakano. A critique of economic policy since 1995, showing that Central Bank s basic interest rate is absurd and can be reduced. Portuguese version available. (Paper/document: Instituciones y Desarrollo, May 2002).
2002. Economic and political analysis of the fiscal crisis of the state from 1980 to 1995 in Brazil. Includes a critical introduction. Portuguese and English versions available. (Book: Maison des Sciences de l'Homme) In bookstores
2002. (Interview: O Estado de S.Paulo )
2002. An overview of the Brazilian economy since the 1970s. Income concentrated in the period, but only some additional reduction in wages and salaries as a consequence of a less appreciated exchange rate will permit the country to resume growth. (Paper in book edited by Ricardo Bielschowky e Ricardo Mussi, Políticas para a Retomada do Crescimento - Reflexões de Economistas Brasileiros).
2001. There are some consensus and some strategic decisions to be taken in Latin America, after the crisis of structuralism, and of orthodox reforms. English version available.(Paper: Revista de Economia Política) *
2001. There are some consensus and some strategic decisions to be taken in Latin America, after the crisis of structuralism, and of orthodox reforms. Portuguese version available. (Paper presented in conference at Oxford University; not published; available only in this site)
2001. First economic paper since I left the Cardoso administration in June 1999. Incompetence and subordination to the North characterized Latin American economic policies since the early 1980s'. Portuguese version available with the original title of the paper, "Incompetência e confidence building por trás de 30 anos de quase-estagnação da América Latina". (Paper in book edited by Paul Davidson).
2001. My first paper after leaving the Cardoso administration in June 1999. Incompetence and subordination to the North characterized Latin American economic policies since the early 1980s'. English version available. (Paper: Revista de Economia Política) *
2001. An overview of the rise of the state and of public administration in Brazil since late nineteenth century, ending with the 1995/98 Public Management Reform. (Paper in edited book)