An Assessment of Brazil's Economic and Energy Problems
Abstract
Brazil, a large Third World country with significant potential, was well on its way toward entering developed nation status when the Organization of Petroleum Exporting Countries (OPEC) raised the price of oil in 1973. This price rise hit Brazil particularly hard because imports supplied approximately 80 percent of her energy needs. Brazil's problem then became one of how to counter the economically devastating impact of the costly energy imports. If adequate alternatives to imported oil could be developed, it was through Brazil's economic problems would apparently be over. Brazil worked hard on the problem and made dramatic progress over a 15 year period. However, during this 15 year period Brazil amassed the largest foreign debt of any Third World country, most of which was incurred paying for imported energy. This huge debt replaced the original energy dependence problem, and Brazil is no better off economically than she was when the energy crisis effectively stopped economic growth. Brazil's economic problems carry certain implications for United States policy planners, and the author makes recommendations regarding these implications.
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 01, 1988
- Accession Number
- ADA202090
Entities
People
- Keith D. Hawkins
Organizations
- Air War College