Growth with Financial Stability and New Developmentalism in Brazil


 Organized by

CEMACRO – Center of Structuralist Development Macroeconomics
São Paulo School of Economics
Fundação Getulio Vargas
March 22 –23, 2012
Hosted by São Paulo School of Economics at FGV and granted by Ford Foundation
If we take as our universe middle income or emerging countries in Latin America and in Asia, we see that since 1980 the later grow much faster than the former. We also verify that Latin American countries underwent more frequent financial crises than Asian countries. Given this fact, this project attempts to discuss the relation of such outcome to the financial system existing in such countries, and to the financial policies and financial regulations that they adopt.
The most general target of this project is to study financial instability in Latin America and particularly the impacts in Brazilian economy. In order to be more specific our two main objectives will be to discuss (1) how will change the world economy and Latin-America in consequence of the global financial crisis; and (2) the nature of financial crises that haunted Latin America in the recent past and search for the policies that should be adopted to avoid them. A third objective, derived from the two others, is to study the relations between financial instability, the exchange rate and deindustrialization in Brazil.
Phase 1 of the project produced the Ten Theses on New Developmentalism. Phase 2 focused primarily on the role of financial governance and financial regulation in promoting a competitive exchange rate to support development strategies in Brazil. In the two workshops, a particular attention was given to two sources of instability in developing countries: a macro source – an exchange rate tending to turn overvalued in consequence of the Dutch disease and of high real interest rates attracting capital inflows – and a micro source, insufficient regulation of the financial sector.
This is the Phase 3 of this project, in which we will summarize and conclude the previous workshops by organizing a public conference and producing an edited book.
To enroll please send an e-mail to eventos.economia@fgv.br or call 11-3799-3350.
Fundação Getulio Vargas - São Paulo - Brazil
Rua Itapeva, 432 – Salão Nobre.
22/03/2012 (9-17:30) - 23/03/2012 (8:30-17).

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