Is Brazil Next?

© Institute for International Economics. All rights reserved. John Williamson, senior fellow since 1981, was on leave as chief economist for South Asia at the World Bank during 1996-99. He was a professor of economics at Pontifícia Universidade Católica do Rio de Janeiro (1978-81), University of Warwick (1970-77), Massachusetts Institute of Technology (1967, 1980), University of York (1963-68), and Princeton University (1962-63); adviser to the International Monetary Fund (1972-74); and economic consultant to the UK Treasury (1968-70). He is author, coauthor, or editor of numerous studies on international monetary and developing world debt issues, including Delivering on Debt Relief: From IMF Gold to a New Aid Architecture (2002), Exchange Rate Regimes for Emerging Markets: Reviving the Intermediate Option (2000), The Crawling Band as an Exchange Rate Regime (1996), What Role for Currency Boards? (1995), and The Political Economy of Policy Reform (1993).T The author acknowledges helpful comments from William Cline and Edwin Truman, useful discussions with Francesco Giavazzi, assistance in finding facts from Paulo Sotero, and help in securing data from the Banco Central do Brasil.