- The Oxford Handbook of the Brazilian Economy
- The Colonial Economy
- The Nineteenth and Early Twentieth Centuries
- Brazilian Structuralism
- Brazil’s Import-Substitution Industrialization
- Experiences of Inflation and Stabilization, 1960–1990
- Leviathan Captured Neoliberalism as Solution and Problem in Brazil
- Growth Volatility and Economic Growth in Brazil
- The Brazilian Development Bank
- The Evolution of Brazil’s Banking System
- Brazil’s Macroeconomic Policy Institutions, Quasi-Stagnation, and the Interest Rate–Exchange Rate Trap
- Evolution and Sectoral Competitiveness of the Brazilian Manufacturing Industry
- The Agricultural Sector
- Traditional Agriculture and Land Distribution in Brazil
- Brazil’s Agricultural Modernization and Embrapa
- Manufacturing, Services, and the Productivity Gap
- Energy in Brazil: Past and Future
- Trade Policy from the 1930s to the Present
- Regional Disparities
- Brazil’s Northeast
- Changes in Income Distribution in Brazil
- The Development of Brazilian Education: A Tale of Lost Opportunities?
- Anti-Poverty Transfers and Poverty Reduction
- South-South Cooperation for Social Development: Brazil and Africa Examined
- Labor Market Development in Brazil: Formalization at Last?
- Environmental Issues
- The Economics of Health in Brazil
- Brazil, the BRICS, and the Changing Landscape of Global Economic Governance
- Brazilian Trade and International Economic Prospects in an Anti-Globalization Era
- The Evolution of Foreign Direct Investment in Brazil
- Multinational Corporations from Brazil
- The Rise and Fall of State Enterprises
- Antitrust and Competition Policy in Brazil
- Corruption Scandals, the Evolution of Anti-Corruption Institutions, and Their Impact on Brazil’s Economy
Abstract and Keywords
After presenting general facts concerning the evolution of the labor market in Brazil over the 2004–2014 decade, this chapter documents the outstanding formalization process that took place, as well as its main consequences and driving forces. In this period, the Brazilian economy achieved sizable GDP growth rates. Although far below Chinese or Indian performances, in contrast to the experiences of the latter, Brazilian growth was notable for being (re)distributive (i.e. associated with important reductions in inequality). In particular, the new growth path was accompanied by a sustained expansion in formal employment, an increase in labor incomes, particularly of earnings at the bottom end of wage distribution, and a consistent decline in wage inequality. Thus, the chapter discusses some of the interventions that led to these achievements and the challenges now faced if these achievements are to be preserved or built upon.
Celia Lessa Kerstenetzky, Professor in the Economics Institute, Federal University of Rio de Janeiro
Danielle Carusi Machado, Adjunct Professor of Economics, Department of Economics, Fluminense Federal University
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