How Brazil Broke Loose
For development institutions like the World Bank, poverty reduction is a continuing goal, and many at the Bank now view improvements in business law as a way to achieve it. But, however compelling the logic behind that view may seem, Brazil’s rise does not confirm it.
CAMBRIDGE – Brazilian President Dilma Rousseff’s visit last week to Washington, DC, offers an occasion to consider how some once-poor countries have broken out of poverty, as Brazil has. Development institutions like the World Bank have advocated improving business law as being essential to success. Are they right?