... high growth rates was because of the political changes that occurred soon after the oil crisis. President Médici who had been in charge during the "economical miracle" years was leaving power (his administration was talked about in the 5th chapter and included such things as low inflation and political repression). The new government was that of President Ernesto Geisel. Geisel made many changes for economic growth starting in 1975 with the introduction of the Second National Development Plan (PND II). This plan included a huge investment plan which included import substitution of basic industrial Outputs (including steel, aluminum, copper fertilizers, and petrochemicals) and capital goods. Also the rapid expansion of the economic infrastructure (hydro and nuclear power, alcohol production, transportation, and communications) was seen. Most of these investments were financed by state enterprises. However, capital goods were carried out by the private sector with financial support from the development bank. ...

See this essay or coursework document in full right now