Dívida pública, poupança em conta corrente do governo e superávit primário: uma análise de sustentabilidade

• Autor(a) principal: Silva,Alexandre Manoel Angelo da
• Data de Publicação: 2008
• Outros Autores: Pires,Manoel Carlos de Castro
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista de Economia Política
• Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572008000400005
• topic: primary surplus; debt-to-GDP ratio; government current account saving

On this paper, we propose a change in the primary surplus' target by the government current account saving. That concept excludes public investment from primary surplus. However, of that change has raised a question about if government current account saving represents a sustainable fiscal policy. Thus, this paper analyses if the change in the primary surplus' target by the government current account saving implies a meaning modification on the debt-to-GDP ratio path. The empirical analysis, which is based on Brazilian monthly data for the period 1999-2005, suggests that the change in fiscal target does not mean a lack of sustain-ability.