UMA INVESTIGAÇÃO DOS EFEITOS DA ABERTURA DA CONTA DE CAPITAL BRASILEIRA SOBRE VARIÁVEIS MACROECONÔMICAS: 1990 à 2012

Antoniele D`Lean Pereira (), Antonio Queiroz (), Sabrina Faria de Queiroz () and Sérgio Fornazier Meyrelles Filho ()
Additional contact information
Antoniele D`Lean Pereira: FACE-UFG, Ciências Econômicas
Sabrina Faria de Queiroz: FACE-UFG, Ciências Econômicas
Sérgio Fornazier Meyrelles Filho: FACE-UFG, Ciências Econômicas

No 46, Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG from Curso de Ciencias Economicas da Universidade Federal de Goias - FACE

Abstract: This paper aims to analyze empirically the relationship between the degree of capital mobility and Brazilian economic performance from 1999 to 2012. This is summarized through analysis of economic growth, interest and inflation rates behavior. Primarily, a brief overview is presented regarding the problems involved in capital mobility measurement, as well as a review of empirical literature about its potential impacts over long term economic growth considering different periods and country samples. Subsequently, methodological aspects and the central results of this proposed investigation are detailed. Upon econometric estimation of vector autoregressions (VAR) through a Financial Integration indicator based on the sum of total capital in and out flows, the results of this study provide limited evidence that more capital mobility is, in Brazilian case, associated to an effective improvement in macroeconomic performance. When it comes to this conclusion, no variables analyzed seem to have a positive and robust relationship as compared with variation in financial integration degree of the economy.

Keywords: International; Financial; Integration.; Capital; Controls.; Macroeconomic; Performance (search for similar items in EconPapers)
JEL-codes: E2 F36 F41 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2014-06
New Economics Papers: this item is included in nep-mac
References: Add references at CitEc
Citations:

Downloads: (external link)
https://files.cercomp.ufg.br/weby/up/118/o/TD_046.pdf First version, 2014 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ufb:wpaper:046

Access Statistics for this paper

More papers in Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG from Curso de Ciencias Economicas da Universidade Federal de Goias - FACE Universidade Federal de Goias UFG - Campus Samambaia (Campus II) Rodovia Goiania/Nova Veneza, Km 0 CEP 74690-900, Goiania, Brasil. Contact information at EDIRC.
Bibliographic data for series maintained by Sandro E. Monsueto ().