Política macroeconômica e a dinâmica do déficit público pós-plano real: o peso da componente financeira

AUTOR(ES)
DATA DE PUBLICAÇÃO

2005

RESUMO

The analysis regarding the main determinants of the moving in the public debt, after the implementation of Plano Real is a controversial issue, which have been generated intense debates. The conventional view appoints that expansion has find linked to the financial aspects of the public deficit. To identify the different components of this deficit, we defend that there is a relation among liberalizing reforms, high interest rates, external vulnerability and economic stagnation. Even after the change to the floating regimes exchange rates, the financial component of the deficit still shows an unstable path, because of his relation with the external account; due to the fact that federal funds are indexed by the exchange rate and by the domestic real interest rate keep up high level.

ASSUNTO(S)

finanças públicas finanças públicas - brasil public debt déficit público economia política econômica economic policy política econômica déficit financeiro - brasil public finance

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