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The balance and the debt

Author

Listed:
  • Antonio Barros de Castro
  • Francisco Eduardo Pires de Souza

Abstract

During approximately two and a half years the Brazilian economy sustained atrade surplus of about USS 12 billion. The origin and sustainability of this surplus becameone of the main issues of the controversy about the medium and long-term growth perspectivesof the country. Using the latest data, and comparing 1987 with 1986, this article triesto show that the trade surplus collapse in the second half of 1986 was an aberration, correctedin 1987. ln the latter, the level of activities achieved in 1986 proved to be compatiblewith the level of surplus sustained from 1984 to the first half of 1986. The article also triesto explore some of the implications of the country s exceptional capacity to generate a highsurplus, ending with a brief reference to its position facing foreign debt. JEL Classification: F134.

Suggested Citation

  • Antonio Barros de Castro & Francisco Eduardo Pires de Souza, 1988. "The balance and the debt," Brazilian Journal of Political Economy, Center of Political Economy, vol. 8(2), pages 270-285.
    • Handle: RePEc:ekm:repojs:v:8:y:1988:i:2:p:270-285:id:1095
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