Abstract
Up to the 1970s, Brazil implemented an industrial policy aimed at substituting imports that was consensually acknowledged for being active and strong.1 Such activeness was the result of the broadness and depth with which the Brazilian state was willing to intervene in markets, taking on a leading allocating role in the economy. The strength of the industrial policy at that time stemmed from the meeting of three essential conditions to boost it: (i) co-existence with a favorable macroeconomic environment; (ii) intensive use of classic instruments (tariff barriers, financial and fiscal incentives for prioritized sectors in two National Development Plans); and (iii) use of stateowned companies (some existing since the 1950s, some created in the 1970s).
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References
Brasil (2008) Productive Development Policy: Innovation and Investment for Sustainable Growth (Brasília.MDIC)
Brasil (2011) Brasil Maior: Innovate to Compete. Compete to Grow (Brasilia: MDIC).
Coutinho, L., Fenaz, J.C., Nassif, A., and Oliva, R. (2012) “Industrial Policy and Economic Transformation,” in Javier Santiso and Jeff Dayton-Johnson (eds), The Oxford Handbook of Latin American Political Economy (Oxford: Oxford University Press).
Fenaz, J.C., Kupfer, D., and Marques, F. (2013) “Industrial Policy and Development: Lessons from Brazil,” in Richard Kozul-Wright and Jose Manuel Salazar-Xirinachs (eds), Growth, Productive Transformation and Employment: New Perspectives on the Industrial Policy Debate (UNCTAD/ILO). forthcoming.
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© 2013 International Economic Association
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Kupfer, D., Ferraz, J.C., Marques, F.S. (2013). The Return of Industrial Policy in Brazil. In: Stiglitz, J.E., Lin, J.Y. (eds) The Industrial Policy Revolution I. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137335173_20
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DOI: https://doi.org/10.1057/9781137335173_20
Publisher Name: Palgrave Macmillan, London
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