A região importa? A indústria de transformação brasileira frente a política econômica de 2004 a 2015

• Ano de defesa: 2017
• Autor(a) principal: Gustavo Figueiredo Campolina Diniz
• Tipo de documento: Tese
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Federal de Minas Gerais; Brasil; FACE - FACULDADE DE CIENCIAS ECONOMICAS; Programa de Pós-Graduação em Economia; UFMG
• Palavras-chave em Português: Política econômica; Industria de transformação; Impactos setoriais; Impactos regionais; Brasil; Política economica; Economia regional
• Link de acesso: http://hdl.handle.net/1843/32043

The overarching discussion of this thesis is a regional approach that spans both industrial sectors and economic policy. It seeks to analyze how the manufacturing industry and its respective subsectors suffered as a result of economic policy channels implemented between 2004 and 2015, taking into account the importance of the regional context. It highlights the importance of understanding not only manufacturing sectors but also their regional contexts, in order to better interpret the causes of monetary, exchange rate, and fiscal shocks. The main focus of the research is on the effects of monetary policy with regard to its supremacy in relation to other policies. It considers the way in which Brazilian monetary policy has been implemented since the introduction of the Real Plan and is structured on a neutral approach to monetary policy in the long term by means of inflation targeting system and high Real interest rates. The effects of industrial policies in manufacturing sectors from 2004 to 2015 were analysed, which highlighted a lack of coordination between these sectoral policies and the implemented economic policies, along with a lack of consideration for the regional context. Thus, in addition to understanding the effects of economic policy in the manufacturing sector, there is still a need to understand how the production and financial structures of the regions alter sectoral dynamics. The structural, financial and historical characteristics of the regions affect the manufacturing industry’s ability to absorb shocks originating from economic policies, thus causing an asymmetric transmission. It was found that the manufacturing industry in the most fragile economic regions was impacted more severely by the implemented policies, while regions with a more diversified productive and financial structure displayed a greater ability to absorb such shocks. These findings have reinforced the hypothesis that an understanding of the regions is fundamental in the establishment of absorption channels for common monetary shocks.