Has financial globalization since 1990 reduced income inequality: the role of rating announcements on the volatility and the returns of the Brazilian Financial Market

La globalisation financière de 1990 a-t-elle permis de réduire les inégalités de revenus: rôle des annonces de ratings sur la volatilité et les rendements des marchés financiers du Brésil

Camille Baulant () and Nivine Albouz ()
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Camille Baulant: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage
Nivine Albouz: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage

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Abstract: This study aims to investigate whether the Brazilian stock market adjust quickly to the Sovereign Rating and whether direct finance helps to create a better allocation of resources. We try to verify if the hypothesis of the EMH of Fama (1965) is hold. We then analyze the allocative efficiency of capital inflows into Brazil by questioning whether they have allowed this country to raise its standard of living.

Date: 2021-05-26
Note: View the original document on HAL open archive server: https://univ-angers.hal.science/hal-03258997
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Published in XXXVIèmes Journées du développement de l’Association Tiers-Monde Croissance, développement et inégalités : Un développement de plus en plus inégal ?, May 2021, Rennes, France

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