Liberal or Developmentalist? Brazil’s faces in the global financial order
Abstract
ABSTRACT This article examines Brazil’s ambivalent stance toward the liberal global financial order. Focusing on the period from 2003 to 2022, it analyzes how successive governments alternated between liberal orthodoxy and developmentalist strategies. While Brazil occasionally supported initiatives challenging liberal hegemony, it simultaneously upheld core principles of the prevailing order. We argue that this ambiguity stems from domestic political dynamics and reflects the broader tension faced by aemerging economies as they navigate between developmentalist aspirations and the constraints of global financial norms.
Fields of Study & Subjects
Economic Theory and Policy
International Development and Aid
Housing
Finance
and Neoliberalism
Publication details
- Journal / source
- Brazilian Journal of Political Economy
- Publisher
- FapUNIFESP (SciELO)
- Volume
- 46
- Issue
- 1
- Publication date
- 1 January 2026
- Language
- PT