Mobilidade de capital internacional no Brasil

Authors

  • Marcos Costa Holanda Universidade Federal do Ceará
  • Mileno Tavares Cavalcante Universidade Federal do Ceará

DOI:

https://doi.org/10.11606/1413-8050/ea219093

Keywords:

capital mobility, interest rate parities, exchange rate risk, Brazil

Abstract

The main objective ofthis paper is to measure the degree ofBrazilian economy's openness to foreign capital flows between 1987 and 1996. The covered (CIP) and uncovered (UIP) interest parities were used as capital mobility indicators. The use oftwo series ofexchange rate expectation, estimated according to the extrapolative and rational hypothesis allowed the estimation ofUIP. Only the CIP results supportthe perfect capital mobility hypothesis. The estimates of the interest parities allow the decomposition of the exchange rate risk in two components: country risk and currency risk.

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Published

2023-12-06

Issue

Vol. 5 No. 2 (2001)

Section

Papers

License

Copyright (c) 2001 Economia Aplicada

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

How to Cite

Holanda, M. C. ., & Cavalcante, M. T. . (2023). Mobilidade de capital internacional no Brasil. Economia Aplicada, 5(2), 261-279. https://doi.org/10.11606/1413-8050/ea219093