Política cambial no Brasil e seus impactos: uma análise para o período de 2008 a 2013
This Dissertation seeks to develop a discussion of foreign exchange in Brazil in the post - 2008 crisis period, drawing attention to the centrality of the exchange rate as an instrument for promoting economic growth and a lack of instruments available to the Brazilian central Bank to avoid both exce...
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| Tipo de recurso: | tesis de maestría |
| Estado: | Versión publicada |
| Fecha de publicación: | 2014 |
| País: | Brasil |
| Institución: | Pontifícia Universidade Católica de São Paulo (PUC-SP) |
| Repositorio: | Repositório Institucional da PUC_SP |
| Idioma: | portugués |
| OAI Identifier: | oai:repositorio.pucsp.br:handle/9233 |
| Acceso en línea: | https://tede2.pucsp.br/handle/handle/9233 |
| Access Level: | acceso abierto |
| Palabra clave: | Arquitetura financeira internacional Desregulamentação e liberalização financeira Taxa de câmbio International financial architecture Deregulation and financial liberalization Exchange rate CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
| Sumario: | This Dissertation seeks to develop a discussion of foreign exchange in Brazil in the post - 2008 crisis period, drawing attention to the centrality of the exchange rate as an instrument for promoting economic growth and a lack of instruments available to the Brazilian central Bank to avoid both excessive appreciation in moments of high international liquidity cycle as overshooting exchange in times of flight to quality. It will be argued that the current international financial architecture that is characterized by deregulation and liberalization of markets, currencies are treated as highly liquid financial assets judged by the markets according to the criterion of risk and return. Therefore, the dynamics of the stocks of wealth and the logic of portfolio management of economic agents are critical for determining the exchange rate at the expense of economic fundamentals. While the exchange rate is not neutral, that is, have impacts on the performance of the real economy, its determination is predominantly financial |
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