The Brazilian Economy in the 1980s
The Lost Decade or wins? The consequences of the external debt crisis, inflation and the state crisis
Keywords:Brazilian economy, Lost Decade, external debt crisis, real economy, inflationary spiral
Known as a lost decade, the 1980s marked several events in Brazil and other Latin American countries. Such events had a profound impact not only on the economy but also on Brazilian democracy. The Brazilian economy in the 1980s went through one of the most serious crises in its history, which resulted in the stagnation of gross domestic product and unprecedented inflation rates. Despite this critical economic situation, social indicators showed positive evolution. It was shown that, although Brazilian families adopted as a strategy to face this crisis the overuse of family work force in the labor market, the evolution of income and poverty in this period was unfavorable.
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