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The financial fragility hypothesis applied to the public sector: an analysis for Brazil's economy from 2000 to 2008

Fernando Ferrari-Filho, Fábio Terra () and Octavio A. C. Conceição
Authors registered in the RePEc Author Service: Fernando Ferrari Filho ()

Journal of Post Keynesian Economics, 2010, vol. 33, issue 1, 151-168

Abstract: This paper builds on Hyman Minsky's financial fragility hypothesis to develop a financial fragility index for the public-sector financial structure. It applies the financial fragility index for the public-sector financial structure to analyze Brazil's public-sector financial structure from 2000 to 2008. The paper concludes that Brazil's financial structure was speculative during the 2000s. As a result, public debt increased during this period, and the public sector was unable to adopt countercyclical fiscal policies.

Keywords: Brazilian economy; financial fragility hypothesis; public-sector economy (search for similar items in EconPapers)
Date: 2010
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Handle: RePEc:mes:postke:v:33:y:2010:i:1:p:151-168