14 abril 2011
Táxi em SP custa metade do de Tóquio e triplo de Buenos Aires
Por que os juros reais são tão altos no Brasil?
Tyler Cowen responde esta pergunta:
The “crude” analysis is that the Brazilian savings rate is very low for a developing country (about fifteen percent of income), the size of the Brazilian government is very high for a developing country (about forty percent of gdp), and the productivity of real investment here is high because of lots of low-hanging fruit (literally and figuratively, not just tasty bananas but add on soya and off-shore drilling and other resources). Yet bad mercantilist policies, bad labor law, and the pressure of government spending on savings all mean that the return on capital does not fall so much at the margin. There remain many underexploited opportunities, and thus one can be a Brazil optimist while seeing only a tolerably good policy environment, but tolerably good it seems to be.