Conventions and the Brazilian Fiscal Policy to Face the Aftermath of the COVID-19 Economic Crisis: a Post Keynesian view

With the exception of 2020, when Brazilian GDP fell because of COVID-19, the policy of ‘expansionary fiscal austerity’ has been implemented in Brazil since 2015, but with poor results in terms of economic growth. From the Post-Keynesian perspective, sustainable economic growth depends on investm...

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Bibliographic Details
Published in:Economic issues (Stoke-on-Trent, England) England), 2023-03, Vol.28, p.21
Main Author: Resende, M F d C
Format: Article
Language:English
Subjects:
Conventions
COVID-19
Economic crisis
Economic growth
Feasibility
Fiscal policy
GDP
Gross Domestic Product
Optimism
Post-Keynesianism
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Summary:With the exception of 2020, when Brazilian GDP fell because of COVID-19, the policy of ‘expansionary fiscal austerity’ has been implemented in Brazil since 2015, but with poor results in terms of economic growth. From the Post-Keynesian perspective, sustainable economic growth depends on investment and the latter depends on optimistic conventions. This article analyses the feasibility of a Keynesian fiscal policy to resume Brazilian economic growth and the role of conventions for the success of fiscal policy.
ISSN:1363-7029
2514-5479