Brazil’s Place in the Global Economy

Abstract

Brazil is a country with long-standing ambitions for a major role in the world economy, but its footprint remains relatively modest. This chapter documents the extent to which Brazil’s economy remains fairly inward-looking and isolated from global markets, despite the modernizing reforms of the past generation. It then discusses some of the causes, which include both contingent economic factors and conscious foreign policy choices. It concludes with a discussion of potential policy changes that could enable Brazil to bridge the gap between global ambitions and achievements.