Complementaridade e Fungibilidade dos Fluxos de Capitais Internacionais

Carlos Araújo and Renato Flôres Junior

No 27, Working Papers Series from Central Bank of Brazil, Research Department

Abstract: This paper presents an analysis, both in theoretical and empirical terms, of the fungibility of international private capital flows. For this, we adopt an open investigative position, implementing univariate and multivariate investigation of the capital movements related to Brazilian economy during the period 1991-1998. Contrary to other studies, we reach an equilibrium relationship linking the flows. Besides this, we find support to the complementarity hypothesis in the long term and to the fungibility hypothesis in the short term.

Date: 2001-09
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.bcb.gov.br/content/publicacoes/WorkingPaperSeries/wps27.pdf (application/pdf)

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:bcb:wpaper:27

Access Statistics for this paper

More papers in Working Papers Series from Central Bank of Brazil, Research Department
Bibliographic data for series maintained by Rodrigo Barbone Gonzalez ().