Abstract

Since the 1990s, three different phases marked the Brazilian economy: a 13 year
long “quasi-stagnation” (1991-2003); a decade of prosperity (2004-2013); and an 8 year
period of economic decline (2014-2021). Leading new developmentalist authors identify
policies introduced in the 1990s as causes of slower economic growth. This article argues
that, even if that hypothesis is correct, it is still inadequate to treat the last 30 years as a single
economic phase. We then compare policies implemented in 2004-2013 with developmentalist
recommendations, concluding that most of them are compatible. Finally, the article highlights
changes in the international and Brazilian contexts between the 1970s and the present, which
reinforce the importance of analyzing the most recent growth experience.

JEL Classification: N1; B5; O54; N16.