This paper explores how Brazil has fared during the ongoing global financial crisis, with a focus on the different policy tools used and their relative effectiveness. The financial crisis of 2008 and its aftermath, particularly the policy responses by developed economies, have spawned a number of challenges for Brazilian policy makers. The paper offers a view on these challenges and on how they might be helped by a concerted effort towards a comprehensive reform of the global monetary system.
Brazil: Policy Responses to the Global Crisis and the Challenges Ahead
Paper No. 2