The evolution of savings in Brazil since 1960 : the role of real interest rates
Autor(a) principal: | |
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Data de Publicação: | 2013 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/10881 |
Resumo: | Is there any relationship between the real rate of savings (domestic and private) and the real interest rate in Brazil? In his work Daniel Gleizer assesses that - policies to strengthen national and private savings by increasing the real interest rate did not occur in Brazil because there was not any significant relation between these variables, in the period from 1960 to 1985. However, using one of his econometric models, a classical saving function, to examine the sensitivity of savings and changes in expected real interest rate in the period from 1960 to 2011, we conclude that there is a negative and significant relation between these variables, probably due to economic, political and social stability recently achieved. Economic stability provided the economic development that caused structural changes in the Brazilian society, in this way demographic characteristics were introduced as explanatory variables since they have direct effects on savings rates. The results after the introduction of those additional controls do not contradict the previous estimations - once again the real interest rate is a significant variable to explain variations in the real ratio of domestic and private savings. |
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The evolution of savings in Brazil since 1960 : the role of real interest ratesDomínio/Área Científica::Ciências Sociais::Economia e GestãoIs there any relationship between the real rate of savings (domestic and private) and the real interest rate in Brazil? In his work Daniel Gleizer assesses that - policies to strengthen national and private savings by increasing the real interest rate did not occur in Brazil because there was not any significant relation between these variables, in the period from 1960 to 1985. However, using one of his econometric models, a classical saving function, to examine the sensitivity of savings and changes in expected real interest rate in the period from 1960 to 2011, we conclude that there is a negative and significant relation between these variables, probably due to economic, political and social stability recently achieved. Economic stability provided the economic development that caused structural changes in the Brazilian society, in this way demographic characteristics were introduced as explanatory variables since they have direct effects on savings rates. The results after the introduction of those additional controls do not contradict the previous estimations - once again the real interest rate is a significant variable to explain variations in the real ratio of domestic and private savings.Existe alguma relação entre a taxa real de poupança (doméstica e privada) e a taxa de juro real no Brasil? Em seu trabalho, Daniel Gleizer afirma que as políticas para aumentar a poupança nacional e privada através do aumento da taxa de juro real não resultaramno Brasil porque não havia relação significativa entre estas duas variáveis no período de 1960 a 1985. Entretanto, utilizando um dos seus modelos econométricos, uma função de poupança clássica, para estudar a sensibilidade da poupança às mudanças na taxa de juros real esperada, no período de 1960 a 2011, concluímos que há uma relação negativa e significativa entre essas varíaveis, provavelmente devido à estabilidade económica, política e social alcançada recentemente. A estabilidade económica proporcionou o desenvolvimento económico que causou transformações estruturais na sociedade Brasileira, por isso foram introduzidas características demográficas como variáveis explanatórias no modelo; uma vez que estas têm efeitos diretos sobre a taxa de poupança. Os resultados após a introdução desses controles adicionais não contradizem as estimações anteriores, novamente a taxa de juro real é uma variável significativa para explicar a evolução da taxa real de poupança doméstica e privada.Neves, João César dasVeritati - Repositório Institucional da Universidade Católica PortuguesaRodrigues, Regiane Silva2013-05-30T14:53:38Z2013-02-1320132013-02-13T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/10881TID:201088665enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-09-19T01:38:28Zoai:repositorio.ucp.pt:10400.14/10881Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:09:21.869521Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The evolution of savings in Brazil since 1960 : the role of real interest rates |
title |
The evolution of savings in Brazil since 1960 : the role of real interest rates |
spellingShingle |
The evolution of savings in Brazil since 1960 : the role of real interest rates Rodrigues, Regiane Silva Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
The evolution of savings in Brazil since 1960 : the role of real interest rates |
title_full |
The evolution of savings in Brazil since 1960 : the role of real interest rates |
title_fullStr |
The evolution of savings in Brazil since 1960 : the role of real interest rates |
title_full_unstemmed |
The evolution of savings in Brazil since 1960 : the role of real interest rates |
title_sort |
The evolution of savings in Brazil since 1960 : the role of real interest rates |
author |
Rodrigues, Regiane Silva |
author_facet |
Rodrigues, Regiane Silva |
author_role |
author |
dc.contributor.none.fl_str_mv |
Neves, João César das Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Rodrigues, Regiane Silva |
dc.subject.por.fl_str_mv |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Is there any relationship between the real rate of savings (domestic and private) and the real interest rate in Brazil? In his work Daniel Gleizer assesses that - policies to strengthen national and private savings by increasing the real interest rate did not occur in Brazil because there was not any significant relation between these variables, in the period from 1960 to 1985. However, using one of his econometric models, a classical saving function, to examine the sensitivity of savings and changes in expected real interest rate in the period from 1960 to 2011, we conclude that there is a negative and significant relation between these variables, probably due to economic, political and social stability recently achieved. Economic stability provided the economic development that caused structural changes in the Brazilian society, in this way demographic characteristics were introduced as explanatory variables since they have direct effects on savings rates. The results after the introduction of those additional controls do not contradict the previous estimations - once again the real interest rate is a significant variable to explain variations in the real ratio of domestic and private savings. |
publishDate |
2013 |
dc.date.none.fl_str_mv |
2013-05-30T14:53:38Z 2013-02-13 2013 2013-02-13T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/10881 TID:201088665 |
url |
http://hdl.handle.net/10400.14/10881 |
identifier_str_mv |
TID:201088665 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
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info:eu-repo/semantics/openAccess |
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openAccess |
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application/pdf |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131766030598144 |