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New Order and ProgressDevelopment and Democracy in Brazil$
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Ben Ross Schneider

Print publication date: 2016

Print ISBN-13: 9780190462888

Published to Oxford Scholarship Online: June 2016

DOI: 10.1093/acprof:oso/9780190462888.001.0001

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Natural Resources and Economic Development in Brazil

Natural Resources and Economic Development in Brazil

(p.27) 2 Natural Resources and Economic Development in Brazil
New Order and Progress

Sarah M. Brooks

Marcus J. Kurtz

Oxford University Press

Brazil stands out as an emblematic exception to the "curse" of natural resources (especially oil)-in both its political and economic variants. Despite a history of abundance of, and reliance upon, immense mineral wealth, it has for more than a half century undergone a surprisingly robust and broad-based industrial expansion, while in the contemporary era even improving sharply its ability to discover, extract, and commercialize petroleum products. This exceptional conjuncture is examined in the context of two legacies of Brazil's developmental state, namely, investments in human capital and industrial capacity. State-led industrialization, whatever its other fiscal and macroeconomic consequences, provided a foundation for the transformation of oil into a developmental blessing, rather than a curse.

Keywords:   Brazil, oil, development, Petrobras, resource curse

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