FGV EESP - Centro de Estudos: Recent submissions
Now showing items 61-80 of 401
-
Banking efficiency, governance and financial regulation in Brazil: some brief explorative notes
2011-03-21In this note I will analyze briefly some issues that I consider important in the discussion related to the banking efficiency, governance and financial regulation, with special focus on Brazil. The subject is complex as ... -
Notes on cyclical tendency to the overvaluation of the real
2011This note addresses the question 'To what extent financial regulation in Brazil was effective in neutralizing the tendency to the overvaluation of the exchange rate in Brazil since the 1994 Real Plan?' Aiming at answering ... -
The 1999 Brazilian financial crisis: how to create a financial crisis by trying to avoid one
2012This paper attempts to understand the Brazilian financial crisis mainly from an ‘endogenous-failure’ perspective. It argues that the general mechanisms that led to this financial crisis were in essence endogenous to the ... -
The Brazilian experience in managing interest-exchange rate nexus
2011-03-25The interest-exchange rate nexus has been the paramount determinant of the course of the exchange rate in contemporary Brazil through the operation of carry trade which has different forms, all related to the interest rate ... -
Dreaming of overcoming the 'impossible trinity': towards a long-term 'optimal' real exchange rate for assuring economic development
2011Well documented in economic literature, the choice between alternative exchange rate regimes involves a trade-off between the advantages of a fixed exchange rate and a floating exchange rate regime. The former warrants the ... -
Financial stability and growth: what we learned from the 2008 financial crisis in Latin America
2012-03-23Depuis longtemps, la finance internationale joue un rôle important dans les économies du Sud et plus particulièrement en Amérique latine. Il suffit de se rappeler l’importance des financements internationaux dans la ... -
Exchange-rate derivatives, financial fragility and monetary policy in Brazil during the world financial crisis
2011The crisis of subprime mortgages in the United States, started in mid-2007 and intensified in the last months of 2008, after the bankruptcy of Lehman Brothers, put an end to that internationally favorable situation the ... -
Global economic prospects and the developing world
2010The Great Recession had strong though quite diverse effects on the developing and transition economies. One channel of transmission was through falling remittances, which impacted several, mostly small countries heavily ... -
Balance of payments dominance: its implications for macroeconomic policy
2011This paper defines 'balance of payments dominance' as a macroeconomic regime in which the short-term macroeconomic dynamics is essentially determined by external shocks, positive or negative. It argues that this is the ... -
How to neutralize the adverse developmental effects of the Dutch disease?
2011-08-16This paper addresses the subject of the adverse developmental effects of the Dutch disease: the theory, the experience of Latin America over the last decade, and the economic policy management issues on what to do about it. -
Competitive exchange rates and macroeconomic theory
2012-03-23Mainstream economic theories still suggest that financial markets, including the markets for currencies, smoothly and automatically solve the most complex and enduring economic problem, namely the transformation of today’s ... -
Reregulating finance after the crisis
2011It has been more than four years since the onset of the financial crisis and the accompanying Great Recession in the US and much of the developed world. Over that period, and after many rounds of intervention by governments ... -
A theoretical framework for a structuralist development macroeconomics
2012-03-23Structuralist development economics was formulated between 1940 and 1960, in the context of great hopes after the II World War, by a group of economists associated to the transition of the League of Nations to the United ... -
From old to new developmentalism in Latin America
2011From the 1930s or, at least, from the 1950s, Latin American countries adopted a successful national development strategy, namely, national developmentalism, based on development economics and Latin-American structuralist ... -
Development theory: convergence, catch-up or leapfrogging? A schumpeterian approach
2011-08-16The present note offers three propositions for discussion. a) it argues that instead of the suggested convergence among nations which constitutes the title of this session, divergence is a more appropriate way to conceptualize ... -
Neutralizing the tendency to the overvaluation of the exchange rate or assuming a foreign constraint and asking for foreign savings
2011-08The objectives of these notes are two. The first objective is to analyze whether the strategy of growth with absorption of foreign savings leads to a trajectory of the economy that is sustainable in the long run. The second ... -
Financial stability reggulation in Brazil (1998-2008)
2011A useful starting point for this discussion may be the acknowledgment of some key features of the Brazilian Financial System (BFS): i. The BFS is a bank-based system, led by financial conglomerates organized around large ... -
Brazil in the 2000's: financial regulation and macroeconomic stability
2011-03The turbulences that hit repeatedly the international economy in the second half of the 1990s caused much damage to the Brazilian economy. A few months after the country achieved price stability with the Real Plan (named ... -
Lessons of the 2008 crisis
2011In the second semester of 1998, the Brazilian economy was hit by a serious balance of payments crisis. Among the immediate causes of the crisis, one can single out the strong international turbulence generated by the Asian ...
