Inflation in Brazil: 1974-1980

The Brazilian economy has been characterized since the first-oil shock in 1973 by severe inflation accompanied by declining rates of economic growth and persistent disequilibrium in the balance of payments. Thus, annual inflation rates skyrocketed from 15% in 1973 to 120% in 1980, measured by the Wholesale Price Index, while economic growth declined from an average annual rate of 11.3% between 1970 and 1973 to 7.1% between 1974 and 1980. Current account deficits monotonically increased from a yearly average of US $1.5 billion in 1971 and 1973 to US $12.9 billion in 1980; the net foreign debt rose from a yearly average of US $5.5 billion in 1971 and 1973 to US $46.9 billion in 1980. (US $61 billion in December 1981.) Consequently, the ratio of the country's debt servicing outlays to its export revenues practically doubled between the end of the economic boom in 1973 and 1980, when it reached 56%.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Economics

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2014

Author dc:creator

• Souza, Juarez De

• Economics, Commerce-Business

Identifier

(UMI)AAI8302991

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/70734