Abstract
For the last several years, Brazil has been in disarray as a massive corruption scandal sent shock waves throughout the government. It led to the ouster of president Dilma Rousseff in 2016 and the imprisonment of former president Luiz Inacio Lula da Silva. Additionally, Brazil is struggling to climb out of a recession that peaked in 2015 and 2016. This year’s International Monetary Fund growth projection of 2.4% would be Brazil’s best performance in six years. Seething against corruption, crime, and boom-and-bust economics, Brazilians in October elected far-right candidate Jair Bolsonaro as president with 55% of the vote. Bolsonaro is frequently compared to US president Donald J. Trump. He is known for his bombastic homophobia, global warming skepticism, and nostalgia for the authoritarian military regime that ruled the country from 1964 to 1985. Yet while some Brazilians fear for their democracy, big business appears optimistic about Bolsonaro. The Brazilian stock
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