Showing 1 - 10 of 62
Brazilian debt crisis, and assesses the prospects for Brazil's sovereign debt after five years of the `muddling … 1978 and 1982, Brazil's current account shifted by $13 billion towards deficits. This shift can be explained, for the most … between 1978 and 1982, $35 billion (75% of Brazil's total net debt accumulation) can be accounted for by the adverse external …
Persistent link: https://www.econbiz.de/10005662401
household labour income and poverty in Brazil. We first estimate the extent of price transmission from world markets to eleven …
Persistent link: https://www.econbiz.de/10005667051
We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP...
Persistent link: https://www.econbiz.de/10008509470
A single variable describes, day-by-day, what investors think about the state of Brazil's economy: the Brazilian … markets' assessment of the probability that Brazil might default on its debt obligations. This is mainly because the cost of … domestic interest rates, is thus the necessary first step in order to understand macroeconomic developments in Brazil. The …
Persistent link: https://www.econbiz.de/10005123784
King-Fullerton methodology cannot assess the minimum-asset tax (MAT) because it cannot handle uncertainty. We present an alternative based on option pricing, and show how carry-over rules, depreciation conventions and uncertainty affect the MAT burden. Using Brazilian data, we show that: (a)...
Persistent link: https://www.econbiz.de/10005498170
We use changes in Brazil’s tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and …. We find that an increase in Brazil’s tax on foreign investment in bonds causes investors to significantly decrease their … portfolio allocations to Brazil in both bonds and equities. Investors simultaneously increase allocations to other countries …
Persistent link: https://www.econbiz.de/10011084681
1980’s and 1990’s - Brazil and Colombia - we examine the response of the informal sector to liberalization. In Brazil, we …
Persistent link: https://www.econbiz.de/10005661732
If in general, financial deepening aids economic growth, then financial repression should be harmful. We use a natural experiment – the change in the English usury laws in 1714 – to analyse the effects of interest rate restrictions. Based on a sample of individual loan transactions, we...
Persistent link: https://www.econbiz.de/10005662086
Whether diversity or specialization of economic activity better promotes technological change and subsequent economic growth has been the subject of a heated debate in the economics literature. The purpose of this paper is to consider the effect of the composition of economic activity on...
Persistent link: https://www.econbiz.de/10005662217
This Paper discusses the challenges confronting developing countries seeking to overcome discrimination in world trade rules and policies. The major sources of discrimination in both developed and developing countries in the areas of market access opportunities and WTO disciplines are briefly...
Persistent link: https://www.econbiz.de/10005666729