Friday, March 12, 2010

More Evidence on the Mediocre Economic Performance of the Lula da Silva Administration

I've made the point yet in this post comparing the post-stabilization Brazilian economic performance with the performance of peer countries, and in this post explaining why the Lula da Silva socialist administration in Brazil is the darling of foreign investors. Research conducted by Brazilian economist Reinaldo Gonçalves (article in Portuguese) presents additional evidence regarding the mediocre performance of post-stabilization administrations in Brazil, especially the Lula da Silva administration, translation is mine:
The evidence shows that the performance of the Brazilian economy was mediocre from 2003 to 2009 according to international and historical patterns... Compared to the Cardoso administration, the Lula da Silva administration was "equally mediocre". In 2002, the last year of the Cardoso administration, the participation of Brazil in the world GDP was equal to 2.81%, while in 2009 the participation was equal to 2.79%.

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