The economic potential of Brazil, the strong global demand for its products, steady results from its economic policies and success factors of its major global players have eventually helped the country become one of the brightest starts in the world economy (Brainard, 2009, p. 1- 2)
This piece of research paper presents a literature review on the economic growth and financial development in Brazil, based on various economic theory and developmental concepts. This paper analyzes success factors of the economic indicators that helped Brazil become one of the fastest growing economies.
Framing the research
The macroeconomic concepts regarding Economic growth will be detailed and explained in the paper in order to compare and contrast empirical results and theory in relation to the economic growth in Brazil. Different views regarding economic growth are detailed and these are applied with the case of the economic growth of Brazil. When it comes to Brazil’s economic growth it has very different times of economic growth, one if high rate of economic growth in the early 1960s and 1970s, and relatively less rate of economic growth from 1980s till date.
Brazil’s macroeconomic indicators of its economic growth and driving forces are also detailed. The major indicators were productivity, industrialization, investing in people and developing the resources and technological advances. This paper reviews various literatures on these macroeconomic indicators in relation to the economic growth of Brazil. ...