Caipirinha Effect

The Caipirinha Effect is a metaphor to designate a phenomenon of extension of an economic crisis from one country to another. Historical origin

This word appeared in the early 1990s, when the crisis in Argentina directly affected Brazil. They said then that it was the Caipirinha Effect, that is, the Argentina of yesterday was Brazil of tomorrow, because the Argentine crisis was going to reverberate in Brazil. A few years later, in the late 1990s, the setback occurred, the crisis in Brazil had negative consequences for Argentina. The Brazilian government had to devalue the Real in 9%, with consequences of this measure for the Argentine economy.

The word is a to the Tequila Effect, another economic phenomenon.

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