This report evaluates and compares the evolution and the determinants of the capital structure of Brazilian firms, with a particular emphasis on external financing. One of its main conclusions is that country factors are nearly as important as firm level factors. Industry factors are not very...

This paper aims to examine the evolution of currency risk exposure of Brazilian corporations, especially exporting companies, from the 2008 crisis, when several companies suffered substantial losses due to the decline of the real. We analyze their financial based on the usage of derivatives, as...

We present projections of the trade and current account balances for Brazil in the period 2001/03. We show that external deficits shall persist during this period; given an international environment characterized by decreasing capital flows (especially those directed to emerging economies), this...