20世纪 90年代 ,巴西开展了以贸易自由化、金融自由化和国有企业私有化为主要内容的一系列经济改革 ,其经济发生了深刻的变化。巴西放弃了原来的进口替代工业化模式 ,转而实行市场导向的经济政策。这些宏观经济形势的变化对巴西的公司产生了深刻的影响 ,尤其对巴西上市公司的融 In the 1990s, Brazil launched a series of economic reforms focusing on trade liberalization, financial liberalization and the privatization of state-owned enterprises. The economy has undergone profound changes. Brazil abandoned its original model of import substitution and industrialization and instead implemented a market-oriented economic policy. These changes in the macroeconomic situation have had a profound impact on Brazilian companies, especially for the financing of Brazil’s listed companies