Abstract
Until the 1990s Brazil was considered a speculative destination for international investors. The instability of the country’s institutions was evident: for more than a quarter of a century the rate of inflation had been double-digit. Financial scandals were quite frequent. The most notorious ones were the default on the Brazilian sovereign debt in 1987, and the Collor Economic Plan that in 1991 seized savings and checking account balances from the whole population. A clear reflex of such instability was the rating for Brazilian government debt that remained under investment grade until 2008. Recently, the country’s image has improved greatly. Milestones of improvement include growing macroeconomic stability, control of inflation, achievement of investment-grade status for government debt and many individual firms, strong economic growth and major Brazilian firms becoming world-class competitors.
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© 2015 Antonio Gledson de Carvalho, Humberto Gallucci Netto and Joelson de Oliveira Sampaio
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de Carvalho, A.G., Netto, H.G., de Oliveira Sampaio, J. (2015). Corporate Governance in Brazil. In: Banik, A., Das Gupta, A., Bhaumik, P.K. (eds) Corporate Governance, Responsibility and Sustainability. Palgrave Macmillan, London. https://doi.org/10.1057/9781137361851_4
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DOI: https://doi.org/10.1057/9781137361851_4
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