Um estudo da influência do investimento público e da incerteza macroeconômica no investimento privado no Brasil / A study of the influence of public investment and macroeconomic uncertainty over private investment in Brazil

AUTOR(ES)
DATA DE PUBLICAÇÃO

2007

RESUMO

This monograph estimated a private investment function for Brazil between 1995 and 2006, in line with the main investment theories, focusing on the relationship between public and private investment and the macroeconomic uncertainties component, determining crowding-in and crowding-out effects. The final model involved the variables private investment, GDP, real interest rates, public investment, inflation and the Ibovespa Index. As one verifies that the series of variables are co-integrated, it was possible to model the long term behavior of private investment in Brazil. The results suggested crowding-in effects of the private investment for GDP and the Ibovespa Index and crowding-out effects for public investment and inflation, considered as proxy for macroeconomic uncertainty. The results for real interest rates were not significant to confirm theorys prediction of crowding-out effects

ASSUNTO(S)

uncertainty private investment investimento público public investment incerteza economia investimento privado

ACESSO AO ARTIGO

Documentos Relacionados