Desenvolvimento Financeiro Suaviza o Efeito de Choques em Economias Locais?

Bruno Rocha and Mariangela Christie da Silva ()
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Mariangela Christie da Silva: UFABC/Zap Imóveis

Revista Brasileira de Estudos Regionais e Urbanos, 2021, vol. 15, issue 3, 468-488

Abstract: This paper aims to explore the relationship between the development of financial intermediaries and the volatility of economic growth in Brazilian states, in the face of real and monetary shocks. This study performs an empirical analysis of State longitudinal data with temporal range between 2004 and 2015, in a panel data setting divided in three periods, which aims to calculate the impact on regional volatility at different points in time. The results show that, in the face of real shocks, local financial intermediaries act to absorb the volatility of the economic growth, while the estimated impacts of the local financial system on the State monetary shocks were not significant.

Keywords: Intermediários financeiros; Volatilidade do crescimento econômico; Choques econômicos locais (search for similar items in EconPapers)
JEL-codes: E32 G21 R11 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ris:rberur:0129

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