Made available in DSpace on 2010-04-20T20:08:29Z (GMT). No. of bitstreams: 0 Previous issue date: 1993-12-14T00:00:00Z / The present study, which was elaborated in order to fulfil the last necessary requirement to obtain the title of Doctor in Business Affairs, through the Escola de Administração de Empresas de São Paulo da Fundação Getúlio Vargas, has the purpose of studying the efficiency of the different adjustment programs applied to the Brazilian economy in the last three decades. In the first chapter it was studied the behaviour of the Brazilian economy from the beginning of the sixties. At that time it was verified, simultaneously, an accelerated increase in the industrial area as well as a slowly but persistent increment of the inflation rate. After an institutional rupture in the middle of that decade, the new economical policy adopted had a strict orthodox characteristic, that would lead the country to live a period of high growth rates, after a time of recession. In the second chapter it was analysed the seventies. In the beginning of that decade high product increment rates took place resulting from a good performance of the industrial field, which was impaired in 1973 by the first shock in the prices of Gil and worsened by the second Gil price raise in 1979, linked to an expressive elevation of the international interest rates. These last facts changed thoroughly the profile of our economy. In the third and last chapter the economy in the eighties was looked into. The first half of that decade was particularly different because of the difficulties caused by the energy shocks due to the Gil crisis, associated with the aggravation of the external debt. Attempting to revert the bad situation, several economical experiments with heterodox features were put into practice such as Plano Cruzado, the first of them, and more recently the unsuccessful Plano Collor, launched in the first months of 1990. It was verified that none of the adjustment attempts were successful, as the attained results were not the expected ones. But, in some aspects, it must be considered the occurrence of healthy transformations, which were necessary to a better performance of the economy. / O presente trabalho teve o propósito de estudar a eficácia dos diferentes programas de ajustamento aplicados à economia brasileira nas últimas três décadas. No primeiro capítulo, estudou-se o comportamento da economia a partir de princípios dos anos sessenta, quando se verificou, simultaneamente, um acelerado crescimento industrial e um constante aumento nas taxas inflacionárias. A partir de meados da década aplicou-se uma política econômica com características ortodoxas que, após um período de recessão, levou a um expressivo crescimento do produto. O segundo capítulo analisou os anos setenta. A tendência de bom desempenho dos anos iniciais da década foi revertida a partir do final de 1973, quando do primeiro choque dos preços dos combustíveis. A partir de 1979 esse quadro se agravou com o choque dos juros. No terceiro capítulo examinou-se a evolução da economia nos anos oitenta. A primeira metade desta década distingüiu-se pelas dificuldades oriundas daqueles choques, em combinação com o agravamento da dívida externa. Foram, então, tentados diversos experimentos econômicos heterodoxos - visando combater a chamada inflação inercial - iniciado pelo denominado Plano Cruzado e, mais recentemente, com o fracassado Plano Collor, aplicado quando já corriam os primeiros meses da década de noventa. Verificou-se que nenhuma tentativa de ajuste foi eficaz, no sentido de que os resultados alcançados estiveram aquém dos esperados, muito embora, em alguns aspectos, tenham ocorrido transformações saudáveis e necessárias a um melhor desempenho da economia.