Michele Pollini Veríssimo e Clésio Lourenço Xavier
Revista de Economia Política, 33 (1), 2013: 82-101.
An investigation on the hypothesis of Dutch disease in Brazil. This paper investigates the hypothesis of Dutch disease in Brazil by the existence of a negative relationship between commodity exports and the real exchange rate, and the effects of export specialization in commodities on the Brazilianeconomic growth from 1999 to 2010 based on VAR model. The evidences suggested an expressive importance of commodities exports in explaining the real exchange rate changes. Moreover, commodities exports shocks were relevant to explain
Brazilian economic growth rate changes, which supports the "curse" of natural resources literature.
