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In the early 1960s, Brazil already had a fairly diversified industrial structure, but one in which vertical integration was only beginning. Thus, instead of alleviating the balance of payments problems, import substitution increased them dramatically. This is shown in Exhibit 2-7.
Mercosur ? Regional Integration Initiative
Between 1981 and 2000 Brazil faced various problems...
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Thus, instead of alleviating the balance of payments problems, import substitution increased them dramatically. This is shown in Exhibit 2-7.
Mercosur ? Regional Integration Initiative
Between 1981 and 2000 Brazil faced various problems. As shown in Exhibit ?7a current account balance and trade deficits persisted as a result of higher increase in the imports than exports...
Essay fragment
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