One of the most relevant discussions on bank regulation is the dichotomy between liberalization, with higher competition, and financial stability. To investigate this problem, the article examines competitive conditions and risk taking in Brazilian banks, and investigates their...

There is considerable evidence to demonstrate that the regional development in developing countries shows high level of spatial concentration. The aim of this paper is to analyze the Brazilian case to identify if the Brazilian constitutional funds (FNO and FCO) have a positive impact on the...

Negotiation is a word that gains more importance nowadays. Understanding the bargaining process is an issue that people, enterprises, labor unions and governments are caring about. The main point studied here is the issue of how the government takes positions in a bargaining process with its...

Using a previously developed methodology for identifying, classifying and characterizing local production systems (LPS) in Brazil, and evidence produced by a number of case studies, the paper suggests that policies aimed at LPS (or industrial clusters) should be tailored according to a typology...

This paper investigates the relationship between trade openness and the current account reversal cost in economies that have experienced sudden stops. At the beginning of such episode, governments usually attempt to equilibrate the balance of payments spending international reserves, but sudden...

This paper studies the distributional implications of intermediation costs. We built a "Bewley" model economy where individuals experience uninsurable idiosyncratic shocks on labor productivity and financial intermediation is costly. Individuals smooth consumption by making deposits to a...

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...

Tax incentives are common instruments in regional policies used to attract new investments and promote increase in employment and income, but the impact on regional public finances is very controversial. This paper uses an interregional computable general equilibrium model for the Brazilian...

Standard estimations of Taylor.s (1993) monetary policy rule assume that the natural real rate of interest can be regarded as constant. By contrast, based on Mankiew (2000) theory of Savers and Spenders, we argue that the natural rate is related to the distribution of income between the two...

A consensus has not yet emerged about the relationship between budget deficit, external deficit and national saving. In general, the mechanisms through which budget deficits could cause current account deficits are not highlighted in the works about this theme. Basing on the Post Keynesian...