Conventional paths for new challenges?

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Brazil's economic policy is facing far-reaching changes. Its transition to democracy was accompanied by a radical change towards an economic paradigm that is referred to as neo-liberal in the country. This new paradigm was only partially compatible with pre-existing structures. This study shows how specific social and economic path dependencies impede sustainable paradigm shift and enable a reorientation towards long-term institutionalised patterns. At the moment, different paradigms are competing within Brazil’s political-economic discourse, and they have become the central topic of electoral campaigns and party competition. Whether or not a paradigm that has been successful in the short term may have a lasting effect on Brazil’s economic policy will depend on the extent to which it harmonises with existing socio-economic constellations.