Timeline of Brazilian economic stabilization plans
Encyclopedia
The following is a timeline
of the Brazil
ian economic
stabilization plans in the "new Republic" (post-military dictatorship
) era, a period characterized by intense inflation
of the local currency
, exceeding 2,700% in the period of 1989 to 1990.
This period was marked by intense economic experimentation (including many forms of economic heterodox shocks) and, as a whole, comprises a unique case study
on macroeconomics.
Timeline
A timeline is a way of displaying a list of events in chronological order, sometimes described as a project artifact . It is typically a graphic design showing a long bar labeled with dates alongside itself and events labeled on points where they would have happened.-Uses of timelines:Timelines...
of the Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
ian economic
Economy
An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area...
stabilization plans in the "new Republic" (post-military dictatorship
Military dictatorship
A military dictatorship is a form of government where in the political power resides with the military. It is similar but not identical to a stratocracy, a state ruled directly by the military....
) era, a period characterized by intense inflation
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
of the local currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
, exceeding 2,700% in the period of 1989 to 1990.
This period was marked by intense economic experimentation (including many forms of economic heterodox shocks) and, as a whole, comprises a unique case study
Case study
A case study is an intensive analysis of an individual unit stressing developmental factors in relation to context. The case study is common in social sciences and life sciences. Case studies may be descriptive or explanatory. The latter type is used to explore causation in order to find...
on macroeconomics.
- March 1, 1986: Plano Cruzado (presidentPresident of BrazilThe president of Brazil is both the head of state and head of government of the Federative Republic of Brazil. The president leads the executive branch of the federal government and is the commander-in-chief of the Brazilian Armed Forces...
: José SarneyJosé SarneyJosé Sarney de Araújo Costa is a Brazilian lawyer, writer and politician. He served as president of Brazil from 15 March 1985 to 15 March 1990....
, finance ministerFinance ministerThe finance minister is a cabinet position in a government.A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances...
: Dilson Funaro) - November 21, 1986: Plano Cruzado II (president: José SarneyJosé SarneyJosé Sarney de Araújo Costa is a Brazilian lawyer, writer and politician. He served as president of Brazil from 15 March 1985 to 15 March 1990....
, finance minister: Dilson Funaro) - April 29, 1987: Plano Bresser (president: José SarneyJosé SarneyJosé Sarney de Araújo Costa is a Brazilian lawyer, writer and politician. He served as president of Brazil from 15 March 1985 to 15 March 1990....
, finance minister: Luiz Carlos Bresser Prereira) - January 6, 1988: Política Feijão com Arroz (president: José SarneyJosé SarneyJosé Sarney de Araújo Costa is a Brazilian lawyer, writer and politician. He served as president of Brazil from 15 March 1985 to 15 March 1990....
, finance minister: Maílson da Nóbrega) - January 15, 1989: Plano Verão (president: José SarneyJosé SarneyJosé Sarney de Araújo Costa is a Brazilian lawyer, writer and politician. He served as president of Brazil from 15 March 1985 to 15 March 1990....
, finance minister: Maílson da Nóbrega) - March 15, 1990: Plano CollorPlano CollorThe Collor Plan , is the name given to a collection of economic reforms and inflation-stabilization plans carried out during the presidency of Fernando Collor de Mello of Brazil, between 1990 and 1992...
, a.k.a. "Plano Brasil Novo" and Plano Collor II (president: Fernando Collor de MelloFernando Collor de MelloFernando Affonso Collor de Mello was the 32nd president of Brazil from 1990 to 1992, when he resigned in a failed attempt to stop his trial of impeachment by the Brazilian Senate...
, finance minister: Zélia Cardoso de MelloZélia Cardoso de MelloZélia Maria Cardoso de Mello served as Brazil's Minister of Economy from 1990 to 1991 under Fernando Collor de Mello . She was married to Brazilian comedian Chico Anysio, with whom she has two children, Rodrigo and Victoria...
) - July 1, 1994: Plano RealPlano RealThe Plano Real was a set of measures taken to stabilize the Brazilian economy in early 1994, under the direction of Fernando Henrique Cardoso as the Minister of Finance, during the presidency of Itamar Franco....
(president: Itamar FrancoItamar FrancoItamar Augusto Cautiero Franco was a Brazilian politician and the President of Brazil from December 29, 1992, to January 1, 1995. During his long political career, Franco was also a Senator, Mayor, Ambassador, Governor and Vice President...
, finance minister: Fernando Henrique CardosoFernando Henrique CardosoFernando Henrique Cardoso – also known by his initials FHC – was the 34th President of the Federative Republic of Brazil for two terms from January 1, 1995 to December 31, 2002. He is an accomplished sociologist, professor and politician...
)
See also
- History of Brazil (1985-present)History of Brazil (1985-present)The period of Brazilian history since 1985 corresponds to the contemporary epoch in the history of Brazil, since the end of the military regime that had ruled the country from 1964 until 1985 and the restoration of civilian government....
- Economy of BrazilEconomy of BrazilThe economy of Brazil is the world's seventh largest by nominal GDP and eighth largest by purchasing power parity. Brazil has moderately free markets and an inward-oriented economy...
- Economic history of BrazilEconomic history of BrazilThe economic history of Brazil covers various economic events and traces the changes in the Brazilian economy over the course of the history of Brazil. Portugal, which first colonized the area in the 16th century, enforced a colonial pact with Brazil, an imperial mercantile policy, which drove...
- Inertial inflationInertial inflationInertial inflation is a concept coined by structuralist inflation theorists. It refers to a situation where all prices in an economy are continuously adjusted with relation to a price index by force of contracts....
- Washington consensusWashington ConsensusThe term Washington Consensus was coined in 1989 by the economist John Williamson to describe a set of ten relatively specific economic policy prescriptions that he considered constituted the "standard" reform package promoted for crisis-wracked developing countries...