After strong currency crisis, in January 1999, Brazil implemented flexible exchange rate regime combined with inflation targeting. Some economists believe that emerging markets do not allow the exchange rate to float as much they had announced and therefore they suffer from the fear of floating....

The phenomenon of high and persistent short-term real interest rates in Brazil has stimulated an extensive literature attempting to explain its causes. Among the various contributions on the topic, one that has received considerable attention is the article by Arida, Bacha, and Lara-Resende...

This article is part of a research agenda in the financial aspects of regional development. Although this is not a new agenda, it is possible to say that it is not consolidate yet. The paper aims to analyze how distinct macroeconomic environment could affect the variation of credit among...

The relationship between trade and growth has been a familiar topic of discussion in the development literature. More often, the question posed concerns the effects of international trade on economic growth, and thus focuses on trade as an active "agent" of growth. This active role played by...

The purpose of this study is to build and estimate a model to assess the determinants of Foreign Direct Investment (FDI) in Latin America and also for a larger group of emerging market countries. Based on a panel data model for seven Latin American Countries over the period of 1984-2001, we...

This paper aims at analyzing regional development in Brazil regarding its financial conditions. It departs from the features of the federalism and decentralization in Brazil, as well as the state and local expenditures. We intends to investigate the role of the federalism and decentralization...

The aim of this paper is to apply the Leontief-Miyazawa Model to the Brazilian economy and analyze the intra and inter-states flow of income that occur as a consequence of the production to attend the final demand of each state. Using this model, we will be able to see how the interdependence...