Around the 1930s, Brazil and Latin American began following the process of Import Substitution Industrialization, which lasted until the end of the 1980s. The ISI policies devaluated the currency in order to boost exports and discourage imports, followed by adopting different exchange rates for goods (Watkins). ISI in Brazil had an interesting effect; it created a three-prong system of governmental, private, and foreign capital being directed at the infrastructure and heavy industry, manufacturing, and the production of durable goods. The program worked at first, but then became a serious economic problem. When the 1980s came around Brazil realized that ISI policies lead to inefficient industries because of their lack of exposure to international competition, the policies ignored the rural sector, and finally limiting the local producers. Following the end of the ISI policies, Brazil went through many plans to correc...
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Smale, Will. "Brazil's Economy Marching to Samba Beat." BBC News. BBC, 01 Aug. 2012.
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"Trade Policy in Brazil." The Economist Intelligence Unit (2011): 1-15. Web.
Watkins, Thayer. "The Economic History of Brazil." The Economic History of Brazil. San Jose
State University, 17 Oct. 2000. Web. 11 March 2014.
"World Economic Outlook Database October 2012." World Economic Outlook Database.
International Monetary Fund, n.d. Web. 11 March 2014.
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