This paper discusses and assesses the features of the Brazilian Financial System, as well as the impacts of Liquidity Preference on Credit and Regional Development in Brazil. Precisely, we test the relationship between credit and development, and the role of banks in regional development. We...

This paper aims at discussing critically Pérsio Arida's proposal of adopting full currency convertibility in Brazil. Arida (2003a, 2003b, 2004) points out that currency convertibility would make for lower domestic interest rates in Brazil, as well as for lower interest rates for the Brazilian...

The recent debt crisis in Greece, Ireland and Portugal has exposed the fragility existing in the Euro zone for promoting development and economic convergence between the countries that have adopted the currency. Way beyond the fear of insolvency, what is observed is a growing disparity of the...

The aim of this paper is to present some preliminary considerations of the relationship between exchange rates, external constraints and economic growth from a formal model that considers two regions, one developed and other developing countries, which interact via international trade. It is...