The New Brazilian Economy Dynamic Transitions into the Future
This edited collection provides a thorough historical, statistical, and institutional description of the current Brazilian economy and the previous economic structure from which it is emerging. The contributions explore the institutional economic and cult
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ELIAS C. GRIVOYANNIS
THE NEW BRAZILIAN ECONOMY
DYNAMIC TRANSITIONS INTO THE FUTURE
The New Brazilian Economy
Elias C. Grivoyannis Editor
The New Brazilian Economy Dynamic Transitions into the Future
Editor Elias C. Grivoyannis Yeshiva University New York, NY, USA
ISBN 978-1-137-46296-1 ISBN 978-1-137-46297-8 (eBook) DOI 10.1057/978-1-137-46297-8 Library of Congress Control Number: 2016959610 © The Editor(s) (if applicable) and The Author(s) 2017 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Cover image © Peter Adams Photography Ltd / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Nature America Inc The registered company address is: 1 New York Plaza, New York, NY 10004, U.S.A.
Introduction: The New Brazilian Economy from Local Perspectives
Brazil is a fascinating country. It is the fifth largest country in the world in terms of geographic area [3,286,470 square miles, see Table 1]. It is the fifth largest country in terms of population [209,567,920, see Table 2], and was the seventh largest country in terms of Gross Domestic Product (GDP) in 2014 [2,416,636 million US dollars], dropping to ninth in 2015 [1,772,589 million US dollars, see Table 3], as a result of recession and of structural problems with its economy, discussed in more detail in this book. Brazil is a fascinating country because of its past, its present and its future. As a result, buying a book and learning about Brazil is always exciting and timely, especially right now, when the Brazilian economy is going through a unique type of transformation. It was only recently that the economic growth projections for Brazil, and for four other countries, Russia, India, China and South Africa (the five countries together known as BRICS), indicated that they will collectively match and overtake the share of global GDP of the original Group of Seven (G7) industrialized and advanced economies of
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