The literature of international economy recognizes the importance of political factors over the national economy's performance and over the likelihood of external crises. Some recent studies analyze the impact of these factors over the financial crises and speculative attacks, but little has...

In the last two decades the financial integration between countries arose. In consequence appeared questions on different degrees of autonomy of monetary politics of these countries. The traditional sight is that interest rate is determined by offer and demand of loaned funds and that the...

Este artigo tem como objetivo investigar e estimar o grau de integração financeira do Brasil com os mercados de capitais internacionais no período de 1990 a 2004. O conceito de integração financeira fraca é adotado por meio da relação da paridade coberta de juros (PCJ). Essa condição...

This article applies the smooth transition autoregressive nonlinear model (STAR) proposed by Granger and Terasvirta (1993) to the Brazilian real exchange rate (RER), aiming to test the validity of the purchasing power parity (PPP) to Brazil. Initially a review of Brazilian and international...

Este artigo analisa a evolução da taxa de câmbio brasileira a partir da adoção da âncora cambial no Plano Real. Para tanto, construiu-se um índice de pressão cambial com base na metodologia de Eichengreen et alii (1995, 1996) que detecta não só mudanças nas variações da taxa de...

In this paper we investigate the relationship between economic growth and exchange rate volatility in emerging and developing countries. We pointed out channels of influence of exchange rate volatility on the growth of economies, through investment, trade flows, asymmetric shocks and capital...

O trabalho analisou as inter-relações entre as taxas de juros domésticas (SELIC e SWAP DI-PR_E 360) e outras variáveis que teoricamente as afetam ou são afetadas por elas, como: o índice EMBI+, o câmbio, a inação e a razão DLSP/PIB. Além destas variáveis foram introduzidos na analise...

This paper evaluates the main impacts of the internationalization of Brazilian manufacturing on the pass-through coefficients during the second half of the nineties. Throughout this period the Brazilian exchange rate regime has dramatically changed. In addition, it has been possible to examine...