Chronic Inflation in an Industrializing Economy The Brazilian Experience [Hardcover]

Vincent Parkin explains the nature and causes of chronic inflation in middle-income developing countries by focusing on the Brazilian experience.In this book, originally published in 1991, Vincent Parkin sets out to explain the nature and causes of chronic inflation in middle-income developing countries by focusing on the Brazilian experience. The book will be of interest to all economists concerned with inflation and Latin America.In this book, originally published in 1991, Vincent Parkin sets out to explain the nature and causes of chronic inflation in middle-income developing countries by focusing on the Brazilian experience. The book will be of interest to all economists concerned with inflation and Latin America.Many middle income industrializing economies in Latin America are today beset by price inflation at rates close to or exceeding previous records. In this book Vincent Parkin sets out to explain the nature and causes of chronic inflation in such economies by focusing on the Brazilian experience since 1964. A theoretical model is developed to show how structural bottlenecks and cost-push pressures can lead to continuous inflation. The model, incorporating as it does stocks and flows of financial assets, forms a bridge between structuralist explanations for inflation, that have tended to abstract from money and finance, and purely monetary explanations.Preface; Introduction; Part I. Theory and Empirical Background: 1. A theoretical framework for the study of inflation rooted in the Latin American structuralist approach; 2. Brazil's experience with inflation since 1960: the evidence and existing interpretations; Part II. The Determinants of Wages and Prices: 3. The manufacturing price index; 4. Average earnings in manufacturing industry; 5. The price of food and food supply; 6. Other price relationships; Part III. The Inflationary Process: 7. A marcoeconomic model for Brazil; 8. Model validation and evaluation; 9. Policy experiments; 10. Conclusion; ApplÃ-