Determinantes macroecon??micos da entrada e sa??da de capitais na economia brasileira

• Ano de defesa: 2016
• Autor(a) principal: Carvalho, Ana Maria Moreira de
• Orientador(a): Silva Junior, Rog??rio L??cio Soares da
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Cat??lica de Bras??lia
• Programa de Pós-Graduação: Programa Strictu Sensu em Economia de Empresas
• Departamento: Escola de Gest??o e Neg??cios
• País: Brasil
• Palavras-chave em Português: Economia; Gastos do governo; Produtos totais; Oferta monet??ria; Cointegra????o; Modelo de Corre????o de Erros Vetorial
• Área do conhecimento CNPq: ECONOMIA MONETARIA E FISCAL::POLITICA FISCAL DO BRASIL
• Resumo em Inglês: This study aimed to empirically investigate whether investments in stocks and bonds respond to changes in the levels of macroeconomic variables (government spending, total goods and money supply) in Brazil from 1995 to 2014. For this we use the extension of the model with n-assets of the theoretical work of Devereux and Sutherland (2008) that related government spending, total goods and money supply with investments in stocks and title on the development of the approach model for the portfolio balance computing. After identifying that the series studied were not stationary, it was decided to use the concept of cointegration and is estimated to Vector Error Correction Model. The estimated coefficients were statistically significant and showed the expected signs. The results show empirical evidence that capital movements are affected by government spending, output and money supply.
• Link de acesso: https://bdtd.ucb.br:8443/jspui/handle/tede/2080

This study aimed to empirically investigate whether investments in stocks and bonds respond to changes in the levels of macroeconomic variables (government spending, total goods and money supply) in Brazil from 1995 to 2014. For this we use the extension of the model with n-assets of the theoretical work of Devereux and Sutherland (2008) that related government spending, total goods and money supply with investments in stocks and title on the development of the approach model for the portfolio balance computing. After identifying that the series studied were not stationary, it was decided to use the concept of cointegration and is estimated to Vector Error Correction Model. The estimated coefficients were statistically significant and showed the expected signs. The results show empirical evidence that capital movements are affected by government spending, output and money supply.