Brazil: an economy caught in a financial trap (1993-2003)
In the early 1990s, Brazil entered a financialized economic dynamic in which short-term financial valorization generated by the issuing of guaranteed public debt overshadowed the entire economy. This article analyzes Brazilian economic processes between 1993 and 2003, in particular the bi-directiona...
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| Tipo de documento: | artigo |
| Data de publicação: | 2013 |
| País: | España |
| Recursos: | Universidad Complutense de Madrid (UCM) |
| Repositório: | Docta Complutense |
| Idioma: | inglês |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/113581 |
| Acesso em linha: | https://hdl.handle.net/20.500.14352/113581 |
| Access Level: | Acceso aberto |
| Palavra-chave: | O11 O16 Financialization Financial rent-seeking Public debt external dependence Financial vulnerability Economía internacional Desarrollo económico Finanzas 5310.06 Financiación Internacional |
| Resumo: | In the early 1990s, Brazil entered a financialized economic dynamic in which short-term financial valorization generated by the issuing of guaranteed public debt overshadowed the entire economy. This article analyzes Brazilian economic processes between 1993 and 2003, in particular the bi-directional relationship with external vulnerability, erratic international financing behavior and how State actions to obtain and maintain these resources fostered financialization. As a result, the entire economy became enmeshed in a self-perpetuating trap in which financial activity was predominant over economic activity. |
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