| Abstract: | Following a review of the policies applied prior to 1973 and their economic effects, this paper provides an appraisal of the measures taken after the oil crisis in the light of the performance of the Brazilian economy during this period. The paper further evaluates the 1979 policy reforms and makes policy recommendations for the future. These would entail increasing incentives to exports vis-à-vis import substitution, increasing the application of automatic rules in the private sector, and improving decision-making in the public sector. |
