Differently from previous situations, inflation in Brazil follows a very difficult equilibrium: it remains very high, but do not explode in a hyperinflation. This process leads to faint output and persistent inflation-based distortions. The author suggests a Korean-inspired solution, where the State has an active role in promoting industries and exports. An important instrument is the exchange rate.
KEYWORDS:
Exchange rate; dollarization; economic growth; inflation
| Anos Meses | Taxa câmbio1 Real efetiva2 | Taxa de câmbio real1 | Câmbio Salário | ||||
|---|---|---|---|---|---|---|---|
| IPA | INPC | ||||||
| No Índice | Var. t | No Índice | Var. t | No Índice | Var. t | ||
| Jan/88 | 95,26 | -4,21 | 84,15 | -3,78 | 83,31 | -2,94 | 94,10 |
| Jan/89 | 86,56 | -0,72 | 79,88 | 1,81 | 82,56 | 1,64 | 86,89 |
| Fev. | 86,75 | 0,22 | 80,74 | 1,08 | 78,55 | -4,86 | 86,79 |
| Mar. | 85,98 | -0,89 | 80,70 | -0,05 | 74,66 | -4,96 | 77,43 |
| Abr. | 86,39 | 0,47 | 81,79 | 1,34 | 70,75 | -5,23 | 69,06 |
| Mai. | 84,78 | -1,86 | 81,88 | 0,12 | 65,85 | -6,92 | 65,51 |
| Jun. | 81,00 | -4,45 | 79,14 | -3,35 | 61,87 | -6,06 | 73,72 |
| Jul. | 79,99 | -1,25 | 76,35 | -3,52 | 69,31 | 12,02 | 77,37 |
| Ago. | 71,86 | -10,17 | 68,89 | -9,78 | 67,02 | -3,30 | - |
| Set. | - | - | - | - | 65,02(*) | -2,98 | - |
Thumbnail
