Liberalização financeira, performance e econômica e estabilidade macroeconômica no Brasil: Uma avaliação do período recente

Arbeitspapier

This paper aims at analyzing the relationship between capital account liberalization,economic performance and macroeconomic stability in Brazil. For this purpose,besides a revision in the literature, the paper develops an empirical study on the effects of financial liberalization in Brazil on a set of macroeconomic variables usingtwo models: one with a de jure index of financial liberalization, and another with a defacto index of financial integration. In the first model, the study intends to evaluatethe proposal that the full convertibility of capital account in Brazil would result in the reduction of country-risk and, consequently, of the domestic interest rate. In the second one, it aims at assessing the hypothesis that financial liberalization has positive effect on economic growth and macroeconomic stability vis-à-vis the hypothesis of the critics of financial liberalization that support that it generates unstable effects on developing economies.

Object Details

• Language: Portugiesisch

References and Relationships

• Bibliographic citation: Series: Texto para Discussão ; No. 1436

Classification and Topics

• Classification: Wirtschaft ; Business Fluctuations; Cycles ; Current Account Adjustment; Short-term Capital Movements ; Economic Growth of Open Economies
• Subject: Kapitalbilanz ; Kapitalverkehrskontrolle ; Finanzmarktregulierung ; Brasilien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): de Faria, João Adelino ; de Paula, Luiz Fernando ; Pires, Manoel Carlos de Castro ; Meyer, Tiago Rinaldi
• Event: Veröffentlichung
• (who): Instituto de Pesquisa Econômica Aplicada (IPEA)
• (where): Brasília
• (when): 2009

Further information

• Handle: http://hdl.handle.net/10419/91413
• Last update: 10.03.2025, 11:44 AM CET