Jorgensen, Ole Hagen - 2017
-factors are the main drivers of spreads across the world. In the case of Brazil, the spread is found to be strongly accounted for … by micro-factors -- also in international comparison. For example, micro-factors contributed 7.2 percentage points (79 … accounted for only 1.9 percentage points (21 percent). Conversely, Brazil does not rank high in international comparison in …