Brazil : Selected Issues.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Western Hemisphere Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2013/313

IMF Staff Country Reports

Language:

English

Subjects (All):

Defined benefit pension plans--Brazil.

Economic development--Brazil.

Foreign exchange rates--Brazil.

International Monetary Fund--Brazil.

Local Subjects:

Defined benefit pension plans--Brazil.

Economic development--Brazil.

Foreign exchange rates--Brazil.

International Monetary Fund--Brazil.

Physical Description:

1 online resource (85 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2013.

Summary:

This Selected Issues paper analyzes pace of economic growth for Brazil. Moderating activity and stubbornly elevated inflation since 2010 have led to a reevaluation of Brazil’s long-term potential growth rate. Growth accounting suggests that potential growth is probably lower than was widely assumed in recent years and now stands at about 3½ percent. The demographic dividend of a rapidly expanding labor force is fading and further structural declines in unemployment are likely to be limited. Potential growth will rely more on the pace of capital deepening and productivity growth. Lifting both may require successful implementation of the infrastructure investment program, higher domestic saving, and structural reforms.

Contents:

Cover; CONTENTS; HOW FAST CAN BRAZIL GROW?; A. Background-Re-Evaluating Potential; B. Methodology; C. Data and Parameter Assumptions; D. Projecting Long-Run Growth; E. Sensitivity Analysis; APPENDIX; Data Description and Sources; REFERENCES; FINANCING INVESTMENT-LED GROWTH IN BRAZIL; A. Background; B. Can Foreign Saving Finance Higher Investment?; C. Boosting Domestic Saving; TABLE; Private Saving Regression Coefficients, Advanced and Emerging Economies; APPENDIX; Data for the Saving Regressions, 1960-2011; REFERENCE; INFLATION IN BRAZIL-STILL PERSISTENT?; A. Background

B. "Forward Looking" Inflation PersistenceC. Conclusions; APPENDIX; Sample Choice and Description of the Data; REFERENCES; MONETARY TRANSMISSION IN BRAZIL-HAS THE CREDIT CHANNEL CHANGED?; A. Introduction; B. Stylized Facts; C. Methodology and Data Description; D. Results; E. Conclusions; APPENDIX; Tables and Figure; REFERENCES; PUBLIC DEBT DYNAMICS UNDER BRAZIL'S FISCAL FRAMEWORK; A. Brazil Public Finances Since 2000; FIGURES; 1a. Selected Fiscal Indicators of the NFPS, 2000-2012; 1b. Main Fiscal Aggregates of Subnational Governments, 2000-2012; 2a. Primary Revenue and Expenditure, 2000-2012

2b. Sensitivity of Real Expenditure Growth to Economic Cycles, 2000-2012B. The Primary Surplus Target and Debt Dynamics; 3. Public Debt Dynamics Under Different Primary Surplus Targets; 4. Public Savings Distribution Under Different Primary Surplus Targets; 5. Overall Balance Distribution Under Different Primary Surplus Targets; C. Enhancing the Fiscal Framework; D. Concluding Remarks; APPENDIX; Methodology; REFERENCES; CREDIT IN BRAZIL: CONTRIBUTION TO GROWTH IN RECENT YEARS; A. Introduction; B. Stylized Facts and Literature Review; C. Data and Econometric Methodology; D. Results

E. ConclusionsAPPENDICES; I. Data; II. Tables and Figures; REFERENCES; UNDERSTANDING HOUSING MARKETS IN BRAZIL: MARK II; A. Motivation and Questions; B. House Prices and Real Estate Loans; FIGURES; 1. House Prices; 2. Real Estate Loans; 3. Feedback Loops Between House Prices and Real Estate Loans; 4. Real Estate Lending Rate and a Spread with the Policy Rate; C. Lessons from International Experiences; 5. Risk Mitigants; D. Policy Implications; 6. Nonperformance of Real Estate Loans; 7. Financial Indicators of Caixa; 8. Real Estate Loan Market; BOX

Recent Trend Introducing Official Limits on LTV and DTI RatiosREFERENCES

Notes:

Description based upon print version of record.

Description based on print version record.

ISBN:

9781475527599

1475527594

9781484383896

1484383893

9781484380970

1484380975