The Institutional pillars of the foreign exchange policy and industrialization in Brazil in the 1930s. The 1930s constitute one milestone in the Brazilian economic development, as the accelerated industrialization process has started and became the dominant domestic policy. This paper reviews this period focusing on the institutional changes restructuring exchange transactions, to curb financial flows and balance external payments [ABSTRACT FROM AUTHOR]
Fonseca, Pedro Cezar Dutra and Monteiro, Sergio Marley Modesto
Subjects
*FINANCIAL liberalization, *ECONOMIC development, *ECONOMIC activity, *BUSINESS cycles, *ECONOMIC policy, *ECONOMIC indicators, ECONOMIC conditions in Brazil, BRAZILIAN politics & government
Abstract
The State and its reasons: the 2nd PND. This paper intends to contribute to the debate on the reasons why the Geisel administration (1974-78) chose — as it faced an adverse conjuncture — an accelerated growth agenda which was materialized in the 2nd PND (National Development Plan). In order to do so, it resorts to a methodological definition which is based upon an institutionalist approach and favors the interaction between the political and the economic variables. Contradicting the literature that interprets the strong presence of the State and the regional decentralization of the 2nd PND as signs of neopatrimonialism, it is advocated that this category of analysis is inadequate to explain the government's choice, although this aspect is embedded in the Brazilian social-historical formation. The political rationality of the plan must be investigated in the conjuncture itself, marked by the liberalization project, which does not clash with the plan's economic rationality — on the contrary, it is complemented by it. [ABSTRACT FROM AUTHOR]