Date: 24th of November, 2020

Location: www.abc.org.br/transmissao (PT) | www.abc.org.br/transmission (EN)

Since the 1980s the Brazilian economy has faced deindustrialization and quasi-stagnation. The austerity policy implemented since 2015 has not been able to activate the confidence of private agents and recover growth rates. In a global scenario of deep recession caused by the COVID-19 pandemic, the impact is particularly severe to developing countries, such as Brazil, as they depend on international currencies. The Brazilian monetary authorities have already announced the return of austerity policies in the post-pandemic. Will this restore the already shaken confidence of economic agents to produce the resumption of growth?

To discuss these topics, the Brazilian Academy of Sciences invited: Luiz Carlos Bresser-Pereira, Daniela Magalhães Prates and Carmem Feijo.


Welcome Address

  • Luiz Davidovich - President of the Brazilian Academy of Sciences
  • Giorgio Parisi - President of the Accademia Nazionale dei Lincei



  • Maria Cristina Marcuzzo - Professor of Political Economy at the University of Rome “La Sapienza", Italy, and Fellow of Accademia Nazionale dei Lincei. She has worked on classical monetary theory at the Cambridge School of Economics, and Keynesian economics.



  • November 24th | Tuesday | 6:00 p.m. (GMT+1)

  • Luiz Carlos Bresser-Pereira - Emeritus professor at Getulio Vargas Foundation, editor of the Brazilian Journal of Political Economy, and founding member of the Arns Commission for Human Rights Defense. He was finance minister (1987) and minister of federal administration of Brazil (1995-98). Since 2001, he and associates are building the political economy and the macroeconomics of New Developmentalism. He will talk about the structural cause of the poor performance of the Brazilian economy.

  • Daniela Magalhães Prates - Senior Economic Affairs Officer at the Debt and Development Finance Branch of the United Nation Conference on Trade and Development (UNCTAD). Her main areas of research are International Economics and Open Macroeconomics with focus on monetary and financial issues and developing countries. She will summarize the transmission channels through which the COVID-19 shock affected the Brazilian economy.

  • Carmem Feijo - Full professor at Fluminense Federal University (UFF). Researcher at the National Council for Scientific and Technological Development (CNPq) and coordinator of the Finance and Development Study Group at UFF. Vice-Chair of the Brazilian Keynesian Association (2018-19). She will talk about the Brazilian economy situation, that faces the economic crisis caused by the COVID-19 pandemic without having recovered from the 2015-2016 recession.

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