2008年金融危机对巴西宏观经济的冲击与影响 中英文.docVIP

一、金融危机对巴西宏观经济的冲击与影响 ’s to say, whenever a worldwide financial crisis takes place, every country that participated in the global economy would just get right involved. And so does Brazil. The Subprime Mortgage Crisis of 2008 caused great bad influence on Brazil, especially on its macro-economy. (1) Severe Economy Recession The Subprime Mortgage Crisis put a sudden stop to the rapidly growing economy of Brazil. Both its trading price and the export volumes declined obviously, which caused the severe economy recession during the following year of 2009. The economy growth rate of Brazil in its three quarters of a year was even above 6%, while it fell deep down to the number of 1.3%. The economy scale even decreased as low as 0.2% though, it was its first decrease ever since 1992. (2) Great Recession in Manufacturing Industries, Uprising Unemployment Rate According to reliable data, the Total Industrial Output Index of Brazil in the first quarter of 2009 decreased as much as 14.7% compared to the same quarter the year before. The economic recession was most significant in the manufacturing industries, thus many manufacturing workers, miners, ect got out of job, which led to a rapid uprising unemployment rate. (3) Serious Money Market Volatility, Distinct National Saving Rate Decline, Sharp Exchange Market changes In September 15th of 2008, the St Paul stock market reached the most remarkable daily decline since the 9 - 11 Terrorist Attack of 2001, and meanwhile its Bo Vespa index decreased sharply by the number of 7.59%. The volatility of Brazilian Money Market caused a swift outflow of foreign assets and the residents saving rate declined as well as people lose faith in domestic credit and withdrew cash from banks. On account of the fluctuating stock market, sharp changes took place in the exchange market,which resulted in severe depreciation of Brazilian real( the currency of Brazil ) against US dollar . The exchange rate of Brazilian real against US dollar depr