This week’s “Weekend Reading Series” is about the Brazilian Economy, Brazil-US Economic relations, and the Global Financial Crisis.
The series includes articles from a Brazilian academic journal, Brazilian Economy by the Getúlio Vargas Foundation, released in September in English and also provides articles that will be presented in a conference by the Center for Integration and Development Studies in Rio de Janeiro September 25, 2009.
The first set of articles come from the September issue of Brazilian Economy, an e-publication produced by the Brazilian Institute of Economics of the Getúlio Vargas Foundation (Fundação Getúlio Vargas or FGV). This issue focuses on foreign policy and Brazil’s new role in international affairs. FGV released a press release about the issue states the following:
“The relations of Brazil with the United States and the countries of South America resemble a cautious and complex political game of chess. Today, thanks to its large vibrant economy, market-oriented policies, and stable democracy, Brazil is seen as a respected interlocutor, skilled negotiator, and independent mediator, able to take shortcuts and find collaborative solutions among countries of diverse political persuasions and social backgrounds. “Having Brazil as a permanent member of the UN Security Council, with or without a veto, should be very beneficial,” suggests Victor Bulmer-Thomas in the current issue of The Brazilian Economy. In particular, “Brazil could serve as a center of development and political stability in Latin America.” But Brazil’s new role has been challenged in South America by competing political currents, such as the more radical Venezuelan-born Bolivarianism. To strengthen its role, Brazil counts on the change of views in Washington, as the Obama Administration is searching for a reliable partner at the negotiating table in a region marked by contrasts and challenges. In an interview in the same issue, Finance Minister Guido Mantega says that “because of its domestic market potential, and because inflation has been kept under control and the country’s foreign accounts were unshaken, Brazil will emerge from the global crisis stronger.” He assures us that the third quarter started with growth already at about 4%, and year-end GDP will be positive, close to 1%. In 2010 the Minister expects that real Brazilian GDP will grow 4.5% to 5%: “There’s a new world ahead.”
The articles, written by both national and foreign experts, provide a wealth of information. They include:
- “Brazilian Institute of Economics’ Letter: ‘The Tax Burden and Our Dilemmas”
- “Interview with Finance Minister Guido Mantega”
- “Brazil’s New Role in International Affairs”
- “Brazil’s Economic and Financial Indicators”
To read the September issue of Brazilian Economy, click here.
The Center for Integration and Development Studies is holding a conference this weekend in Rio de Janeiro about the “Global Economic Crisis and South America.” Although many of us will not be able to attend the event in Rio de Janeiro, we can still take advantage of what these academics have to say by reading their works. (All works in Portuguese or Spanish).
Works about Regional Integration and Brazil:
- “América do Sul: Respostas à crise – Síntese dos estudos nacionais” by Sandra Rios e Roberto Iglesias. This work is a synthesis of the principal factors and conclusions from four studies about the impacts of the Global Economic Crisis in Argentina, Brazil, Chile Ecuador, and Peru. The work gives a picture of not only the impact, but also the macroeconomic political responses and commercial implication by the governments and their effects on commercial trade with the region and with the world. The study portrays that the types of reactions adopted impact both commercial trade and the perspectives of integration and relationships within the region. (Portuguese)
- “Respostas de Política Econômica e Comercial à Crise Internacional: o caso do Brasil” by Sandra Rios e Roberto Iglesias. This article analyzes the political responses adopted by Brazil in order to confront the international financial crisis. The work takes into account the impacts of the crisis on Brazil’s economy and trade within South America. (Portuguese)
- “Conclusiones sobre la economía política del regionalismo en Sudamérica” by Federico Merke. This article comments on the concept of regionalism in South America. It doesn’t attempt to make overarching explanations or limiting generalizations for a region in which there is always possibilities to find exceptions, but instead attempts to identify factors present in the region that make possible or inhibit South American regionalism. (Spanish)
There are also works about other South American countries. They are the following:
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