Capitais internacionais: complementares ou substitutos?

Carlos Hamilton Vasconcelos Araújo and Renato Flôres Junior

No 506, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: This paper presents a theoretical and empirical analysis of the substitutability of international private capital flows. Both univariate and multivariate investigations of the capital movements related to the Brazilian economy during the period 1991-1998 are conducted. Contrary to other studies, we find an equilibrium relationship linking the flows. We also find support for the complementarity hypothesis in the long term and for the substitutability hypothesis in the short term.

Date: 2003-10-10
References: Add references at CitEc
Citations:

Downloads: (external link)
https://repositorio.fgv.br/bitstreams/f297d997-fd8 ... 004913d047a/download (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:fgv:epgewp:506

Access Statistics for this paper

More papers in FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil) Contact information at EDIRC.
Bibliographic data for series maintained by Núcleo de Computação da FGV EPGE ().