Edmund Amann

Neoliberalism and its Consequences in Brazil

This article examines the impact of a decade of neoliberal policies on poverty and income distribution in Brazil. It demonstrates that while trade and market reform contributed towards the attainment of price stability and accelerated capital inflows, little was achieved by way of reducing income inequality and poverty. The article concludes by outlining the policy options which might be adopted to tackle this critical problem.

The Illusion of Stability: The Brazilian Economy Under Cardoso

This paper begins with a description of the main characteristics of Brazils Real stabilization program and its initial success in eliminating inflation. It then examines the use of the exchange rate to keep inflation in check and the problems which overvaluation created. It also focuses on the structural desequilibria it faced and the various artifices that were used to deal with them but which ultimately led to a set of contradictions that brought about its collapse.

Anchors Away: The Cost and Benefits of Brazil's Devaluation

This paper analyses the impact of Brazils devaluation in 1999. This event represents an abandonment of the exchange rate anchor which had been used as a stabilisation plan since the introduction of the Real Plan in 1994. The reasons surrounding the abandonment of the exchange rate anchor are determined as well as the explanation for its benign impact.

Did China Hurt the Textiles and Clothing Exports of Other Asian Economies, 1990–2005?

Employing a gravity model, this article examines the impact of the rise of Chinas textile and clothing (T&C) sector on the exports of its Asian counterparts. It was established that Chinas textile exports posed a greater competitive threat than its clothing exports to the T&C exports of other Asian economies. It was also found that higher-income Asian economies fared better than their lower-income counterparts. This is because the higher-income Asian economies tended to be specialized in segments of the T&C sector less exposed to Chinese competition.

Globalisation, industrial efficiency and technological sovereignty: Evidence from Brazil

Abstract Since the end of the 1980s the Brazilian economy has become increasingly exposed to the forces of globalisation. As trade and market liberalisation have progressed, so the industrial sector has been obliged to undergo a substantial transformation. This paper examines the nature of this transformation focusing on three key themes: productive efficiency, industrial restructuring and technological sovereignty. While, at least in terms of productivity and cost competitiveness, efficiency has undoubtedly increased, the evidence concerning the impact of liberalisation on technological sovereignty is somewhat more ambiguous. However, it is clear that, in many instances the reliance of the Brazilian industrial sector on foreign sources of technology has markedly increased. This, in turn raises a number of troubling issues, not least the ability of emerging market economies to hold on to established areas of technological competence as globalisation continues to unfold.

The Macroeconomic Record of the Lula Administration, the Roots of Brazil’s Inequality, and Attempts to Overcome Them

The concentration of income and property has been a constant throughout Brazil’s history, no matter what the nature of its economic regime. Have the efforts of the Lula government to tackle poverty through the Bolsa Familia broken away from this constant characteristic? In this chapter we shall review the reasons for the persistence of inequality in Brazil,1 and we shall try to establish if this constant has been broken by the first mandate of President Lula.

Is There a New Brazilian Model of Development? Main Findings from the IRIBA Research Programme

It has been suggested that Brazil’s unexpected successes in the last two decades are the outcome of a new model of development, with strong inclusive growth at its core. The paper reviews the main findings of the IRIBA research programme examining the contribution of macroeconomic stability and financial reform, agricultural exports and productivity, and social policies to inclusive growth. Based on this research, the paper argues that Brazil’s recent success is due to a unique combination of economic and social policies and institutions working together and reinforcing each other.

Brazil as an emerging economy: a new economic miracle?

This article shows that abundant resources and blind faith in an optimistic future cannot result in sustainable growth in Brazil. There are great deficiencies in various areas which make sustained high growth rates almost impossible to achieve, such as the low investment ratio, deficiencies in creating human capital, high interest rates leading to an uncompetitive exchange rate and a lack of infrastructural development.

The development of Brazil's technological capabilties in the post war period: From dependence to self-reliance?

Abstract This article aims to survey the evolution of technology policy in Brazil from its inception to the mid 1990s, paying particular attention to the impact of rapid trade and market liberalisation. The analysis reveals that the onset of liberalisation has done relatively little to intensify attempts to become more technologically self-reliant or capable. Instead, long established modes of technological acquisition and development-based on imported basic designs and minor local adaptations-have stubbornly remained in place. The very persistence of this situation is suggestive of the scale of institutional and policy changes which would need to be wrought in order to induce greater technological dynamism. RESUMEN Este artículo pretende analizar la evolución de la política tecnológica de Brasil desde su origen en la década del 90, haciendo hincapié en el impacto producido por la rápida liberalización del comercio y mercado. El análisis revela que la llegada de la liberalización, tuvo poco o ningún efecto para aumentar los esfuerzos necesarios para que el país fuese más auto- suficiente o capaz, tecnológicamente hablando. Muy por el contrario, las antiguas modalidades de adquisición y desarrollo de tecnología—basadas en la importación de diseños básicos y pequeñas adaptaciones locales—han continuado, obstinadamente, arraigadas. La propia persistencia de esta situación ilustra la escala de cambios institucionales y de políticas imprescindibles para crear mayor dinamismo tecnológico. RESUMO Este artigo pretende fazer um levantamento da evolução da política tecnológica brasileira, desde o seu início até meados dos anos 90, com ênfase no impacto do rápido comércio e da liberalização do mercado. A análise revela que o começo da liberalização influiu relativamente pouco para intensificar as tentativas de o país tornar—se mais auto—confiante e capaz tecnologicamente. Ao contrário, antigas formas de aquisição tecnológica e de desenvolvimento—baseadas em projetos simples importados e em adaptações locais—permaneceram, obstinadamente, em vigor. A forte persistência desta situação demonstra a escala de mudanças institucionais e políticas, que seriam necessárias promover a fim de instigar um maior dinamismo tecnológico.

UK Corporate Acquisitions in Latin America in the 1990s: Lost Opportunities in a New Economic Environment

During the 1990s, foreign direct investment flowed into Latin America at an unprecedented rate. Capital inflows associated with privatizations and private mergers and acquisitions (M&As) rose steeply. Drawing on original firm-level transactions data, this article examines the extent to which UK enterprises participated in the Latin American privatization and private M&A boom. The authors conclude that, relative to their counterparts in many other major industrial countries, UK enterprises adopted a cautious stance, largely eschewing privatization opportunities and concentrating M&A activities on relatively few operations, sectors and countries, in order to strengthen product and market positions. Moreover, the strategic logic guiding the most important corporate acquisitions centred on gaining access to domestic markets rather than attempting to create global export platforms. Copyright 2002 CIRIEC.