In this paper we model foreign capital flow to Brazil as stemming from an investment decision that whose risk depends … introduced in a static General Equilibrium Model for Brazil which has exogenous foreign capital flow and follows a relatively …

savings in Brazil. The appreciation of the domestic currency caused by financing the current account deficit reduces the …

goods for Brazil. The set up is based on the conjecture that a variable expressing the availability of foreign exchange …

implementing them. We focus on Brazil, which instituted five changes in its capital account regime in 2008-2011. Using the … synthetic control method, we construct counterfactuals (i.e., Brazil with no policy change) for each of these changes. We find … regarding the government's larger intentions and sensibilities. Brazil's left-of-center government's willingness to remove …

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 …

This paper investigates the determinants of capital flows to Brazil and constructs an index of capital controls that …