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Employment and Productivity in Brazil in the Nineties

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  • Economics

Abstract

Ensaios Econômicos Escola de Pós-Graduação em Economia da Fundação Getulio Vargas N ◦ 469 ISSN 0104-8910 Employment and Productivity in Brazil in the Nineties Marcelo Cortes Neri, José Márcio Camargo, Maurício Cortez Reis Dezembro de 2002 URL: http://hdl.handle.net/10438/987 Os artigos publicados são de inteira responsabilidade de seus autores. As opiniões neles emitidas não exprimem, necessariamente, o ponto de vista da Fundação Getulio Vargas. ESCOLA DE PÓS-GRADUAÇÃO EM ECONOMIA Diretor Geral: Renato Fragelli Cardoso Diretor de Ensino: Luis Henrique Bertolino Braido Diretor de Pesquisa: João Victor Issler Diretor de Publicações Científicas: Ricardo de Oliveira Cavalcanti Cortes Neri, Marcelo Employment and Productivity in Brazil in the Nineties/ Marcelo Cortes Neri, José Márcio Camargo, Maurício Cortez Reis � Rio de Janeiro : FGV,EPGE, 2010 (Ensaios Econômicos; 469) Inclui bibliografia. CDD-330 Employment and Productivity in Brazil in the Nineties José Márcio Camargo1 Marcelo Neri2 Maurício Cortez Reis3 I - Introduction The nineties have proved to be one of the major turning points in Brazilian economic history. Brazil started out the decade as an economy closed to international trade flows and capital, in which the State played a major role as a producer of goods and services, and with a trend toward growing inflation. As the decade progressed, it moved to become an open economy, reducing commercial protection and deregulating capital flows, while diminishing the role of the State as a producer of goods and services through privatization. This culminated in a stabilisation programme based on an exchange anchor and supported by an opening up of trade and the financial market. These structural changes have strongly affected the pace and pattern of growth in the economy. Brazil was plunged into deep recession between 1990 and 1992 when the level of activity slumped and unemployment swelled. As from 1993,

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