This article supports the thesis that the Brazilian macroeconomic model has proven to be capable of creating economic cycles, which follow expansion and retraction movements of liquidity and world trade. However, it has not been able to bring back the country to the economic and social development pathway. The exchange, monetary and fiscal policies are contradictory and contribute to obstruct a sustained growth, the tackling of infrastructure constraints, and the expansion of social expenditure.
Brazilian macroeconomic policy; economic growth; development
