Annotated Index

Launch of
Plano Real
Leading Political
Figures Indicted
“Car Wash” Raids, Mass
Protests, Chamber of Deputies
President Accepts Request to
Impeach President Rousseff
Global
Concerns
Financial
about Lula’s
Petrobras
Crisis
Policies
Fiscal
Scandal
Responsibility And Brazil’s Congress
Emerges
Devaluation
Economy Rebuffs Lula,
Law
Real Appreciation,
Refuses
And End of
Tax Cuts, Trade
to Renew
Crawling Peg
Lula
Restrictions
CPFM Tax
Presidential
Election
Russian
Campaign
Crisis
Elections
500
400
300
200
President
Collor
Impeached
(October),
Resigns
(December)
Lower House Votes
To Impeach Rousseff
0
100
Policy Uncertainty Index
Economic Policy Uncertainty Index for Brazil,
January 1991 to July 2016
Corruption Scandals,
Major Indictments,
Severe Recession,
Many Large Protests
Notes: Index reflects scaled monthly counts of articles in Folha de São Paulo containing “incerto” or “incerteza”, “econômico” or
“economia”, and one or more policy-relevant terms that include regulação, déficit, orçamento, imposto, “banco central”, planalto,
congresso, senado, legislação, and tarifa. Normalized to a mean of 100 from 1991 to 2011. Index methods follow “Measuring
Economic Policy Uncertainty” by Baker, Bloom and Davis. Data available at www.PolicyUncertainty.com.