Aggregate demand and the slowdown of Brazilian economic growth in 2011-2014

  • Franklin Serrano Instituto de Economia da Universidade Federal do Rio de Janeiro
  • Ricardo Summa Instituto de Economia da Universidade Federal do Rio de Janeiro

Resumo

This paper looks in detail at the sharp slowdown in the Brazilian economy for the years 2011-2014. We argue that the slowdown is overwhelmingly the result of a sharp decline in domestic demand, rather than a fall in exports and even less any change in external financial conditions. The sharp fall in domestic demand, in turn, is shown to be a result of deliberate policy decisions made by the government and was not necessary, i.e., it was not made in response to some external constraint such as a balance-of-payments problem.

Publicado
2016-12-30
Como Citar
SERRANO, F.; SUMMA, R. Aggregate demand and the slowdown of Brazilian economic growth in 2011-2014. Nova Economia, v. 25, n. Esp, 30 dez. 2016.
Seção
Artigos