Brazilian fiscal policy in perspectivefrom expansion to austerity

Resumo

"This paper analyses the changes in orientation and composition of Brazilian fiscal policy, focusing on three recent periods and seeking to explore their relationship with economic performance. The first period (2005–2010) was characterised by fiscal expansion, with public investment and redistributive transfers as its main drivers. Economic performance was extraordinary. During the second period of fiscal expansion (2011–2014), the fiscal space was reoriented towards tax cuts and subsidies to private investment, while public investment stagnated. This new fiscal policy mix proved ineffective in preventing the economy from entering a downturn. The third period (from 2015 onwards) has been characterised by a shift to fiscal austerity and by the worst recession ever recorded in the country’s history. Finally, the paper presents some concluding remarks on challenges and socio-economic risks resulting from the recent and radical shift towards fiscal austerity". (…)

Ficha do documento

Tipo

Estudo

Ano

2017

Instituição

Instituto de Pesquisa Econômica Aplicada

Fonte

Repositório do Ipea

Idioma

Inglês

Acesso

Acesso aberto

Identificador

oai:repositorio.ipea.gov.br:11058/15177

Licença

Licença total exclusiva

Temas

Finanças Públicas

Palavras-chave

Brazilianfiscalpolicyperspectivefromexpansionausterity