ABSTRACT
In the last ten years or so, Brazil has appeared in the world market radar as a credibly emerging economy. High levels of GDP growth, favorable foreign trade leading to high international reserves, job creation to nearly full employment, a politically led and efficient program of income distribution and alleviation of poverty, rising individual and family incomes, public investment in infrastructure and social policies—all that alongside maintaining a strict liberal macroeconomic framework with fiscal austerity, inflation targeting, central bank autonomy, a free and floating exchange rate, and a free financial market as conditions of the entire scenario.
