The Economies of Argentina and Brazil
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The Economies of Argentina and Brazil

A Comparative Perspective

Edited by Werner Baer and David Fleischer

This book compares the successes and failures of the development and growth processes of Argentina and Brazil. It provides important insights into the different performances of these economies through a series of comparative essays written by Argentinian and Brazilian economists.
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Chapter 5: The Evolution of Brazilian Agriculture from 1987 to 2009

Carlos José Caetano Bacha

Extract

5. The evolution of Brazilian agriculture from 1987 to 2009 Carlos José Caetano Bacha The goal of this chapter is to analyze the evolution of Brazilian agriculture in the period from 1987 to 2009, evaluating the agricultural stimulus policies, their evolution and the way agriculture did or did not fulfill the functions attributed to it in the process of economic development. The existing literature on the topic evaluates mainly the changes that have occurred in the sectoral support policy of agriculture, highlighting the creation of new rural credit lending tools, together with the rise in real interest rates charged to farmers (Bacha e Silva, 2005; Gasques e Conceição, 2001), the creation of new price support programs together with the reduction in coverage of traditional programs (Del Bel Filho and Bacha, 2005; Rezende, 2001; Verde, 2001) and the reduction of public expenditures for agriculture (Barros, 1994; Gasques, 2001; Gasques et al., 2010). Even in this context of low stimulus, Brazilian agriculture grew. The works of Bacha and Rocha (1998) and Brugnaro and Bacha (2009) take note of this growth and are concerned with evaluating the factors influencing the share of agriculture in Brazil’s GDP. Bacha (2004) evaluated the means by which Brazil’s agriculture performed the functions normally attributed to it in the economic development of the period 1987 to 2002. The contribution of this chapter is to bring together and update the existing information in the aforementioned literature and to analyze the impacts that macroeconomic policies (especially the exchange rate...

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