RESUMO O artigo apresenta as principais características do modelo econômico sueco, o qual começou a ser gestado na década de 1930 e se consolidou a partir de meados da década de 1950. O modelo sueco caracteriza-se por uma política macroeconômica que proporciona estabilidade de preços e espaço fiscal para políticas industriais seletivas e políticas sociais ativas, estas últimas reconhecidas como um amplo e universal Estado do Bem-Estar Social. Esta combinação, que contradiz o receituário econômico convencional, se mostrou exitosa, dado que o país era subdesenvolvido e agrário até o início do século XX e alcançou elevado grau de desenvolvimento socioeconômico desde a década de 1970. Em seguida, expomos a experiência sueca como uma alternativa à condução da política macroeconômica, dada a sua singularidade.

ABSTRACT This paper describes the main details of the Swedish economic model, which began to be structured on the 1930s and achieved its consolidation on the 1950s. The Swedish model is characterized by a macroeconomic policy which provides price stability, fiscal results for selective industrial policies and social active policies, the latter being recognized as a wide universal welfare state. This combination, which contradicts the traditional economic prescriptions, has been successful given the country was agrarian and underdeveloped until the beginni.ng of 20th century and achieved a high social-economic development level on the 1970s. Afterwards, we present the Swedish experiment as an alternative to macroeconomic management, especially due to its uniqueness.

We discuss in this paper the evolution of exchange rate policy in Chile since the seventies, with special attention to overvaluation and undervaluation cycles. Following a recent literature that argues in favor of competitive currencies as part of a development strategy, we argue that the Chilean exchange rate policy in the years that go from 1984 until 1999 were very important to its growth results. Chile even managed to go through the nineties without a major external crisis, especially when compared to its Latin American neighbors. We argue here that the exchange rate crawling band adopted in the middle eighties and nineties was important for its growth strategy.