브라질 정치경제 위기와 투자사이클
The Change of Brazilian Politics and Economy and its Impact on Investment Cycle
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This study is about how Brazil's economic crisis and Joseph's impeachment relate to the investment cycle. With the deterioration of the external environment and the worst recession caused by the decline in commodity prices, the Brazilian economic crisis deepened, causing concern about the Brazilian financial crisis. The first point is that the workers' party was a 'parliamentary coup d'etat' that abused the impeachment law because of the economic crisis. The second view is that President Temer's new right-wing coalition regime recently claimed that the economic crisis stemmed from the loose economic policies of the Lula and Dilma governments, and that they were impeached for legitimate impeachment, including violations of the fiscal responsibility law. The third point, as the general public and the market preferred a market-friendly structural reform due to continuously deep recession and economic crisis. However, it seems that the Dilma government wanted to change in some way because of the lack of political power to solve the problem. The market was not interested in the legitimacy of the impeachment alleged by Joseph and the right-wing coalition regime. In this Brazilian economic crisis, we could record the reversal of the investment return with the market-friendly policy through the political change. This study argues that the worst recession in the economy and the highest rate of investment in Brazilian assets in 2016 is due to the 'political and institutional changes' in the 'worst economic indicators.
Abstract
This study is about how Brazil's economic crisis and Joseph's impeachment relate to the investment cycle. With the deterioration of the external environment and the worst recession caused by the decline in commodity prices, the Brazilian economic crisis deepened, causing concern about the Brazilian financial crisis. The first point is that the workers' party was a 'parliamentary coup d'etat' that abused the impeachment law because of the economic crisis. The second view is that President Temer's new right-wing coalition regime recently claimed that the economic crisis stemmed from the loose economic policies of the Lula and Dilma governments, and that they were impeached for legitimate impeachment, including violations of the fiscal responsibility law. The third point, as the general public and the market preferred a market-friendly structural reform due to continuously deep recession and economic crisis. However, it seems that the Dilma government wanted to change in some way because of the lack of political power to solve the problem. The market was not interested in the legitimacy of the impeachment alleged by Joseph and the right-wing coalition regime. In this Brazilian economic crisis, we could record the reversal of the investment return with the market-friendly policy through the political change. This study argues that the worst recession in the economy and the highest rate of investment in Brazilian assets in 2016 is due to the 'political and institutional changes' in the 'worst economic indicators.
참고문헌 (24)
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