Liberalização financeira, performance econômica e estabilidade macroeconômica no Brasiluma avaliação do período recente

Resumo

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 using two models: one with a de jure index of financial liberalization, and another with a de facto index of financial integration. In the first model, the study intends to evaluate the 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.

Ficha do documento

Tipo

Estudo

Ano

2009

Instituição

Instituto de Pesquisa Econômica Aplicada (Ipea)

Fonte

Repositório do Ipea

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.ipea.gov.br:11058/2557

Licença

Licença Comum

Abrangência

Brasil

Palavras-chave

Liberalização financeiraPerformance econômicaEstabilidade macroeconômicaLiberalização da conta de capitais