![]() At the same time, there is general consensus that the PAEG laid the groundwork for the long period of high economic growth that Brazil experienced in the late 1960s and 1970s (Lara Resende 1992 Biderman, Cozac and Rego 1996). ![]() In comparison with most Brazilian stabilization plans, the PAEG is known as an anomaly because of its perceived austerity and monetarist orthodoxy (Skidmore 1988 Lara Resende 1992 Biderman, Cozac and Rego 1996). The PAEG 1 was a major episode in Brazil’s economic history and has been much debated among economists both within and outside Brazil (Fishlow 1973 Friedman 1974 Simonsen 1995 Biderman, Cozac and Rego 1996 Mantega and Rego 1999). ![]() This chapter considers Brazil’s 1964-67 Plano de Ação Econômico do Governo (Plan of Government Economic Action, or PAEG) as an example of institutional syncretism. ![]()
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