MACROECONOMIC STABILIZATION POLICIES ANO INSTABILITY IN AGRICULTURE: BRAZIL, 1986/92.
Gervásio Castro de Rezende
Abstract
This papertraces the macroeconomic roots ofthe deterioration of agricultural performance in the crop years 1989/90 and 1990/91. It shows that the increase in inflationary instability after 1986, and the policies adopted by the Government, since then, to fight hyperinflation, caused the terms of trade of agriculture to become much more unstable, at the sarne time that the government pulled back the support it had been providing to agriculture. These adverse conditions ultimately caused the reduction of activity levels in agriculture in 1989 and 1990. The paper concludes by pointing out the implications for the stabilization strategy.
Keywords
References
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