Medialdea García, Bibiana2025-01-092025-01-092013-07-01Medialdea, Bibiana. «Brazil: An economy caught in a financial trap (1993-2003)». Revista de Economia Politica, vol. 33, n.º 3, 2013, pp. 427-45, https://doi.org/10.1590/S0101-31572013000300004.10.1590/S0101-31572013000300004https://hdl.handle.net/20.500.14352/113581In the early 1990s, Brazil entered a financialized economic dynamic in which short-term financial valorization generated by the issuing of guaranteed public debt overshadowed the entire economy. This article analyzes Brazilian economic processes between 1993 and 2003, in particular the bi-directional relationship with external vulnerability, erratic international financing behavior and how State actions to obtain and maintain these resources fostered financialization. As a result, the entire economy became enmeshed in a self-perpetuating trap in which financial activity was predominant over economic activity.engAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/journal articlehttps://doi.org/10.1590/S0101-31572013000300004open accessO11O16FinancializationFinancial rent-seekingPublic debt; external dependenceFinancial vulnerabilityEconomía internacionalDesarrollo económicoFinanzas5310.06 Financiación Internacional