A economia política do ajustamento brasileiro aos choques do petróleo: uma nota sobre o período 1974/84

Abstract

This paper analyses the successive changes in the country's economic policy during the Geisel and Figueiredo administrations, designed to deal with the new international conditions that prevailed after the oil crises. Domestic political restrictions are also taken into account, despite the generalized belief about self-sufficiency of the authoritarian regime. Brazilian state, usually taken as having no limitations to its power, is instead seen as rather weak and unable to make decisions affecting the long term path of the economy. The final section compares the present analysis with an alternative interpretation of the same period, the latter being held in general acceptance among Brazilian economists.