Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil

Detalhes bibliográficos
Autor(a) principal: Oreiro,José Luis
Data de Publicação: 2014
Outros Autores: Basilio,Flavio A. C., Souza,Gustavo J. G.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista de Economia Política
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001
Resumo: The present article aims to analyze the recent behavior of real exchange rate in Brazil and its effects over investment per worker in Brazilian manufacturing and extractive industry. Preliminary estimates presented in the article shows an over-valuation of 48% of real exchange rate in Brazil. The reaction between the level (and volatility) of real exchange rate and investment (per worker) in Brazil is analyzed by means of a panel data econometric model for 30 sectors of Brazilian manufacturing and extractive industry. The empirical results show that the level and volatility of real exchange rate has a strong effect over investment per worker in Brazilian industry. Finally, we conclude the article presenting a proposal for a new macroeconomic regime that aims to produce an acceleration of economic growth of Brazilian economy and, by that, a catching-up process with developed countries.
id EDITORA_34-1_fbba95950df5d1c8cc93f8d80cfe25b1
oai_identifier_str oai:scielo:S0101-31572014000300001
network_acronym_str EDITORA_34-1
network_name_str Revista de Economia Política
repository_id_str
spelling Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazilreal exchange rateeconomic developmentstructuralist development macroeconomicsThe present article aims to analyze the recent behavior of real exchange rate in Brazil and its effects over investment per worker in Brazilian manufacturing and extractive industry. Preliminary estimates presented in the article shows an over-valuation of 48% of real exchange rate in Brazil. The reaction between the level (and volatility) of real exchange rate and investment (per worker) in Brazil is analyzed by means of a panel data econometric model for 30 sectors of Brazilian manufacturing and extractive industry. The empirical results show that the level and volatility of real exchange rate has a strong effect over investment per worker in Brazilian industry. Finally, we conclude the article presenting a proposal for a new macroeconomic regime that aims to produce an acceleration of economic growth of Brazilian economy and, by that, a catching-up process with developed countries.Centro de Economia Política2014-09-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001Brazilian Journal of Political Economy v.34 n.3 2014reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/S0101-31572014000300001info:eu-repo/semantics/openAccessOreiro,José LuisBasilio,Flavio A. C.Souza,Gustavo J. G.eng2014-10-29T00:00:00Zoai:scielo:S0101-31572014000300001Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2014-10-29T00:00Revista de Economia Política - EDITORA 34false
dc.title.none.fl_str_mv Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
title Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
spellingShingle Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
Oreiro,José Luis
real exchange rate
economic development
structuralist development macroeconomics
title_short Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
title_full Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
title_fullStr Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
title_full_unstemmed Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
title_sort Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil
author Oreiro,José Luis
author_facet Oreiro,José Luis
Basilio,Flavio A. C.
Souza,Gustavo J. G.
author_role author
author2 Basilio,Flavio A. C.
Souza,Gustavo J. G.
author2_role author
author
dc.contributor.author.fl_str_mv Oreiro,José Luis
Basilio,Flavio A. C.
Souza,Gustavo J. G.
dc.subject.por.fl_str_mv real exchange rate
economic development
structuralist development macroeconomics
topic real exchange rate
economic development
structuralist development macroeconomics
description The present article aims to analyze the recent behavior of real exchange rate in Brazil and its effects over investment per worker in Brazilian manufacturing and extractive industry. Preliminary estimates presented in the article shows an over-valuation of 48% of real exchange rate in Brazil. The reaction between the level (and volatility) of real exchange rate and investment (per worker) in Brazil is analyzed by means of a panel data econometric model for 30 sectors of Brazilian manufacturing and extractive industry. The empirical results show that the level and volatility of real exchange rate has a strong effect over investment per worker in Brazilian industry. Finally, we conclude the article presenting a proposal for a new macroeconomic regime that aims to produce an acceleration of economic growth of Brazilian economy and, by that, a catching-up process with developed countries.
publishDate 2014
dc.date.none.fl_str_mv 2014-09-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/S0101-31572014000300001
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Centro de Economia Política
publisher.none.fl_str_mv Centro de Economia Política
dc.source.none.fl_str_mv Brazilian Journal of Political Economy v.34 n.3 2014
reponame:Revista de Economia Política
instname:EDITORA 34
instacron:EDITORA_34
instname_str EDITORA 34
instacron_str EDITORA_34
institution EDITORA_34
reponame_str Revista de Economia Política
collection Revista de Economia Política
repository.name.fl_str_mv Revista de Economia Política - EDITORA 34
repository.mail.fl_str_mv ||cecilia.heise@bjpe.org.br
_version_ 1754122481423089664

Registros relacionados