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The Balance of Payments and Foreign Liabilities: Medium Term Perspectives for Brazil
Fabio Giambiagi Banco Nacional de Desenvolvimento Econômico e Social (BNDES) - Department of Economico Eustáquio José Reis Institute of Applied Economic Research (IPEA) Marco A. F. H. Cavalcanti Institute of Applied Economic Research (IPEA) Alexandre Samy de Castro IPEA - Institute of Applied Economic Research Abstract: This paper studies the medium run prospects ? up to 2003 ? for Brazilian foreign liabilities based on an analytical framework that calculates the current account balance required to stabilize the ratio foreign liabilities/exports. We project the behavior of the main current account variables under alternative world trade growth and GDP growth scenarios. Sustainability of Brazil's foreign indebtedness is shown to depend crucially on world trade, which imposes a limit to sustainable domestic growth.
JEL Classifications: F4, E6, F32, F34 Working Paper SeriesDate posted: February 17, 2000 ; Last revised: February 17, 2000Suggested CitationContact Information
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