Reis, Jose GuilhermeCanuto, OtavianoCavallari, Matheus2014-02-122014-02-122013-02https://hdl.handle.net/10986/17038Brazilian exports of goods and services have grown sharply in recent years, with sales nearly three times higher in 2010 than in 2000. However, Brazil faces considerable competitiveness challenges: its export performance depends mostly on favorable geographical and sector composition effects. Such challenges increased after the recent global economic crisis. A recent slowdown in industrial exports, production, and investments seems related to supply-side difficulties stemming from a wide range of inefficiencies and rising costs, rather than insufficient demand. Although a stronger currency is one of the factors behind the lower competitiveness of Brazil's manufacturing exports, sluggish productivity performance, lack of dynamism at the firm level, and a real wage uptrend seem to explain a significant part of the overall loss of competitiveness. This diagnostic reinforces the urgency of resuming the agenda of microeconomic reforms, increasing the investment-to-Gross Domestic Product (GDP) ratio, and advancing toward better-skilled human capital.en-USCC BY 3.0 IGOAGGREGATE DEMANDANNUAL GROWTHASSET PRICEASSET PRICE BOOMSASSET PRICESAUTOMOBILESBILATERAL TRADEBUSINESS ENVIRONMENTCENTRAL BANKCOMMODITIESCOMMODITYCOMMODITY PRICESCOMPARATIVE ADVANTAGESCOMPARATIVE ANALYSISCOMPETITIVENESSCONSUMERSCURRENCYCUSTOMSDEBTDEMOGRAPHICDEVELOPED COUNTRIESDEVELOPING COUNTRIESDIRECT CONNECTIONDIVERSIFICATION OF EXPORTSDOMESTIC CONSUMPTIONDOMESTIC DEMANDDOMESTIC MARKETSECONOMIC ACTIVITYECONOMIC CRISISECONOMIC DEVELOPMENTECONOMIC DYNAMISMECONOMIC ENVIRONMENTECONOMIC GROWTHECONOMIC POLICYECONOMIC RESEARCHECONOMIC SECTORSECONOMIES OF SCALEELECTRICITYEMERGING MARKETEXCHANGE RATEEXCHANGE RATE APPRECIATIONEXCHANGE RATESEXPLOITATIONEXPORT COMPETITIVENESSEXPORT DIVERSIFICATIONEXPORT GROWTHEXPORT MARKETSEXPORT PERFORMANCEEXPORT PERFORMANCESEXPORT SECTOREXPORT SECTORSEXPORTEREXPORTERSEXPORTSEXTERNAL SHOCKFINANCIAL CRISISFINANCIAL INSTABILITYFINANCIAL MARKETSFINANCIAL STABILITYFINANCIAL STABILITY POLICYFIXED COSTSFOREIGN COMPETITIONFOREIGN TRADEFULL EMPLOYMENTGDPGDP DEFLATORGDP PER CAPITAGLOBAL ECONOMYGLOBAL INTEGRATIONGLOBAL MARKETSGLOBAL SUPPLY CHAINGLOBAL SUPPLY CHAINSGLOBALIZATIONGRAVITY MODELGROSS DOMESTIC PRODUCTGROWTH RATEHUMAN CAPITALIMPORTIMPORTSINCOMEINCOME GROWTHINDUSTRIAL DEVELOPMENTINDUSTRIAL PRODUCTIONINDUSTRIAL STRUCTUREINDUSTRIALIZATIONINDUSTRY PRODUCTIVITYINFLATION OBJECTIVEINFLATION RATESINTEREST RATESINTERNATIONAL COMPETITIONINTERNATIONAL COMPETITIVENESSINTERNATIONAL MARKETINTERNATIONAL TRADEKNOWLEDGE DISSEMINATIONLABOR COSTSLABOR PRODUCTIVITYLOSS OF COMPETITIVENESSMANUFACTURINGMARKET SHAREMIDDLE-INCOME COUNTRIESMONETARY AUTHORITIESMONETARY POLICYNATURAL CAPITALNATURAL RESOURCESNETWORKSNEW MARKETSNOMINAL WAGESOILOPEN ECONOMYOUTPUTPCPOLICY MAKERSPOVERTY REDUCTIONPRIVATE SECTORPRODUCERSPRODUCTIVITYREAL EFFECTIVE EXCHANGE RATEREAL ESTATEREAL EXCHANGE RATEREAL WAGESRESULTRESULTSSLOWDOWNSTABLE GROWTHSTABLE INFLATIONSTANDARDIZATIONSTOCK MARKETSUNK COSTSSUPPLY SIDESUPPLY-SIDETARGETSTAXTAX SYSTEMTECHNOLOGICAL PROGRESSTERMS OF TRADETOTAL FACTOR PRODUCTIVITYTRADE COMPETITIVENESSTRADE IMPACTSTRADE INTEGRATIONTRADE OPENNESSTRADESTRADING PARTNERTRADING PARTNERSTRANSMISSIONUNEMPLOYMENTUSESVALUE CHAINSVOLATILITYWAGESWEALTHWORLD DEVELOPMENT INDICATORSWORLD ECONOMYWORLD MARKETWORLD MARKET SHAREWORLD TRADE10.1596/17038