The brazilian external sector in the new exchange rate regime
DOI:
https://doi.org/10.5433/1679-0383.2003v24n1p25Keywords:
Exchange rate regime, trade balance, external adjustment.Abstract
The objective of this work is to identify the behavior of the Brazilian external sector after the change of the exchange rate regime in 1999, trying to verify if there was an external adjustment. First, a literature review was done in order to realize which was the evaluation that the economists had made about the behavior of the exchange rate and its reflection in the trade balance during the first years of the monetary system (Real – R$). After that, the evolution of the trade balance was analyzed during the years of 1994 to 2001, with emphasis on the different categories and its importance for a supposed return to its growth. Finally, the gross formation of fixed capital is examined in order to notice the Brazilian managers’ actions. As a conclusion, it is believed that Brazil has not accomplished an external adjustment yet, which makes it vulnerable to the variations of the exchange rate as well as to a recovery of its growth.
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