March 1, 2024
This paper examines Brazil's economic growth patterns over the last three decades and identifies a missed opportunity for the country to attain high-income status by the mid-2010s. Instead, Brazil has suffered from low productivity growth, and has made little progress in transforming its production and export structures in favor of higher value-added activities. This premature de-industrialization makes it challenging for Brazil to transition from its long- standing upper-middle-inc ...