A quoi tient le succès brésilien ?

CAMBRIDGE – La visite de la présidente brésilienne Dilma Rousseff à Washington la semaine dernière a été l'occasion de se demander comment son pays, et d'autres, ont réussi à sortir de la pauvreté. Pour les institutions spécialisées dans le développement comme la Banque mondiale cela tient avant tout à l'amélioration de la législation sur les entreprises. Ont-elles raison& ?

On estime que les investisseurs ont besoin de règles claires et de tribunaux efficaces. Cette idée remonte au moins jusqu'à Max Weber qui soulignait qu'un environnement d'affaires efficace exige une structure juridique aussi prévisible qu'une horloge. De ce point de vue, la sécurité offerte par un contrat et des mécanismes qui protégent réellement les investisseurs sont indispensables pour financer la croissance économique. Si un financier n'est pas sûr d'être de retrouver sa mise, il ne va pas investir, les entreprises ne vont pas se développer et l'économie va stagner. Par conséquent il faut donner la priorité à un cadre juridique et aux institutions, le développement économique suivra.

Mais aussi imparable paraît ce raisonnement, le succès du Brésil ne va pas dans ce sens& : sa croissance financière et économique n'a été ni précédée, ni même accompagnée d'améliorations significatives de la législation ou du fonctionnement de la justice.

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