The prosperous decade of 2004-2013 and new developmentalism

ABSTRACT Since the 1990s, three different phases marked the Brazilian economy: a 13 year long “quasi-stagnation” (1991-2003); a decade of prosperity (2004-2013); and an 8 year period of economic decline (2014-2021). Leading new developmentalist authors identify policies introduced in the 1990s as causes of slower economic growth. This article argues that, even if that hypothesis is correct, it is still inadequate to treat the last 30 years as a single economic phase. We then compare policies implemented in 2004-2013 with developmentalist recommendations, concluding that most of them are compatible. Finally, the article highlights changes in the international and Brazilian contexts between the 1970s and the present, which reinforce the importance of analyzing the most recent growth experience.