ECO501 Development Economics GDB No 1 Fall 2021 Solution / Discussion
The developing countries followed the performance of Brazil, a largest and most populous country in Latin America. Brazil is an important member of the G-20 economies and BRICS (Brazil, Russia, India, China and South Africa) countries. Many Brazilians have been frustrated with the uneven pace of development and Brazil has even been cited as an example of a country that has experienced “growth without development.” Despite huge inequities, Brazil has made economic and social progress and should not be tarred with the same brush as countries such as Pakistan, Saudi Arabia, or Gabon that have had less social development for their levels of growth and investment. Brazil experienced two decades of military rule till 1985, resulting in debt problem, stagnant incomes, and high inflation. However, Brazilian feel relief after 2004 as a result of signs of palpable progress. Despite the economic improvement in the recent era, the poverty/inequality level is not up to the mark in Brazil as compared to an upper-middle-income country.
Being a student of development economics, you are required to read the complete case study from the textbook “Economic Development”, 12th Edition by Michael P. Todaro and Stephen C. Smith entitled as “Progress in the Struggle for more Meaningful Development: Brazil” given at the end of Chapter # 01. Discuss some social indicators in the case of Brazil.
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