Resumen de Brasil 1986-1988: Notas sobre las políticas de estabilización

Jaime Gatica, Alejandra Mizala

• In this note, we make a critical review of the Brasilian experience with heterodox stabilization programs (Cruzado; Bresser and Verano), emphasizing those factors which were more important to explain the failure of these programs. The basic insight is that a balanced combination of orthodox with heterodox policies does not guarantee the success of these plans becouse they do not consrder the stock financial disequilibrium of the public sector.