- Fernando Rezende and Jose Roberto Afonso

Abstract

Following decades of protectionism and a powerful interventionist state, the Brazilian economy suddenly exposed itself to external competition and went through a fast process of privatization. The institutional reforms helped to stabilize the economy and create a friendlier environment for attracting investment and fostering growth.Of the reforms that stood high in the agenda for modernizing the Brazilian economy, three deserve special attention: Privatization, Public Employment-Social Security, and Taxation.

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