Descripción:
This paper adresses a specific question: why has China grown so rapidly and Brazil not? To an-swer this question, it (i) establishes the basis for comparison between China and Brazil by con-textualizing these countries within the BRICs concept, and (ii) presents a comparative analysis of Brazilian and Chinese reforms focusing only on the issue of macroeconomic policy, especially the monetary and exchange rate regimes, and its effect on growth.