Plano Real: normatização de uma economia financeirizada
Abstract
Presented as a model of monetary stabilization, the Real Plan laid the foundations on which contemporary Brazilian economic dynamics are revealed. Its effects go beyond fighting inflationary pressures, with effects on the national economy as a whole. Its macroeconomics transformed the Brazilian political economy, normalizing its financialization process: since 1994, under its contours, it was restructured and, subsequently, the dominant role of national finance in the power bloc built up throughout the 1990s was consolidated. The hypothesis of inertial inflation served as a subsidy to its rules, whose core presents the operationalization of the SELIC aiming at the internal aggregate demand and the exchange appreciation. In this way, due to the way it changed the Brazilian economic panorama, the Real Plan is understood as a concept in our economic history, a symbol of its time and the spirit of its time.
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