Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras

Detalhes bibliográficos
Autor(a) principal: Cardoso, Débora Freire
Data de Publicação: 2011
Tipo de documento: Dissertação
Idioma: por
Título da fonte: LOCUS Repositório Institucional da UFV
Texto Completo: http://locus.ufv.br/handle/123456789/45
Resumo: Although the classic literature postulating that subsidies bring allocative and distributives inefficiencies, and social cost, developed countries, especially the U.S. and those in the EU insist on the maintenance of policies to support agriculture. This pattern of expenditure in the sector raises the idea that there is economic rational on those subsidies and that they have positive effect on economic growth. In Brazil, the main agricultural subsidy is via rural credit through the Interest Rates Equalization (IRE), which provides credit to producers at lower interest rates than those on the market. It is questioned whether this subsidy generates economic growth to all Brazilian regions. The overall objective is to evaluate the impact of the Interest Rate Equalization policy (IRE) on the economic growth of five Brazilian regions. The model, database and software of the General Equilibrium Analysis Project of the Brazilian Economy (Paeg) are applied to the simulations. Initially, there is the scenario in which all the subsidy via IRE and the entire consumption of intermediate inputs provided by subsidized rural credit to this sector are eliminated. This scenario aims to establish the importance of IRE policy in terms of promoting economic growth and welfare in the regions.Subsequently, a second scenario simulates that this subsidy is allocated to the transportation sector, in order to calculate its alternative rate of return. The first scenario shows that the IRE policy provides economic growth in the Midwest, Northeast and South regions above the cost of the policy. Moreover, in the North and Southeast regions there is a decrease in the GDP. For the country as hole, every dollar spent on IRE promotes an increase in GDP equivalent to 1.34 times the policy cost, that is, the IRE policy rate of return in terms of promoting economic growth is 34%. Furthermore, all regions are benefiting in terms of welfare. The results for the second scenario, that is, when the IRE subsidy is allocated to the transport sector, indicates that for the country, in terms of GDP and welfare increase, the IRE policy has negative alternative rate of return relative. The IRE policy subsidy allocated to the transport sector, in the Midwest, Northeast and South regions, present negative rate of return, both in terms of economic growth and welfare. However, in the North and Southeast regions, although the alternative rate of return, in terms of welfare growth, is negative, the policy has positive alternative return in terms of growth economic. The conclusion is that, for the country as a whole, the IRE policy is cost-effective in terms of promoting economic growth and welfare. Therefore some interventionist policies can generate gains in terms of economic growth and welfare greater than the cost of the policy.
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spelling Cardoso, Débora Freirehttp://lattes.cnpq.br/4775441040633035Campos, Antônio Carvalhohttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4781810A0Castro, Eduardo Rodrigues dehttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4728036Z9Teixeira, Erly Cardosohttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4787961Y8Gurgel, ângelo Costahttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4761467Y6Domingues, Edson Paulohttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4707514U6Gomes, Marília Fernandes Macielhttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4780074U1Reis, Brício dos Santoshttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4761466Z02015-03-19T19:30:06Z2011-11-252015-03-19T19:30:06Z2011-02-23CARDOSO, Débora Freire. Effects of the interest rates equalization policy of rural credit on the brazilian regions. 2011. 206 f. Dissertação (Mestrado em Economia e Gerenciamento do Agronegócio; Economia das Relações Internacionais; Economia dos Recursos) - Universidade Federal de Viçosa, Viçosa, 2011.http://locus.ufv.br/handle/123456789/45Although the classic literature postulating that subsidies bring allocative and distributives inefficiencies, and social cost, developed countries, especially the U.S. and those in the EU insist on the maintenance of policies to support agriculture. This pattern of expenditure in the sector raises the idea that there is economic rational on those subsidies and that they have positive effect on economic growth. In Brazil, the main agricultural subsidy is via rural credit through the Interest Rates Equalization (IRE), which provides credit to producers at lower interest rates than those on the market. It is questioned whether this subsidy generates economic growth to all Brazilian regions. The overall objective is to evaluate the impact of the Interest Rate Equalization policy (IRE) on the economic growth of five Brazilian regions. The model, database and software of the General Equilibrium Analysis Project of the Brazilian Economy (Paeg) are applied to the simulations. Initially, there is the scenario in which all the subsidy via IRE and the entire consumption of intermediate inputs provided by subsidized rural credit to this sector are eliminated. This scenario aims to establish the importance of IRE policy in terms of promoting economic growth and welfare in the regions.Subsequently, a second scenario simulates that this subsidy is allocated to the transportation sector, in order to calculate its alternative rate of return. The first scenario shows that the IRE policy provides economic growth in the Midwest, Northeast and South regions above the cost of the policy. Moreover, in the North and Southeast regions there is a decrease in the GDP. For the country as hole, every dollar spent on IRE promotes an increase in GDP equivalent to 1.34 times the policy cost, that is, the IRE policy rate of return in terms of promoting economic growth is 34%. Furthermore, all regions are benefiting in terms of welfare. The results for the second scenario, that is, when the IRE subsidy is allocated to the transport sector, indicates that for the country, in terms of GDP and welfare increase, the IRE policy has negative alternative rate of return relative. The IRE policy subsidy allocated to the transport sector, in the Midwest, Northeast and South regions, present negative rate of return, both in terms of economic growth and welfare. However, in the North and Southeast regions, although the alternative rate of return, in terms of welfare growth, is negative, the policy has positive alternative return in terms of growth economic. The conclusion is that, for the country as a whole, the IRE policy is cost-effective in terms of promoting economic growth and welfare. Therefore some interventionist policies can generate gains in terms of economic growth and welfare greater than the cost of the policy.Apesar de a literatura clássica postular que os subsídios trazem ineficiências alocativas, distributivas e custo social, países desenvolvidos, sobretudo EUA e da UE, insistem na manutenção de políticas de incentivo à agricultura. Esse padrão de gastos com o setor sugere que os formuladores de política percebem racionalidade econômica e social nesses subsídios, atribuindo-lhes efeitos positivos sobre o crescimento econômico e o bem-estar. No Brasil, o principal subsídio agrícola é via crédito rural, por meio da Equalização das Taxas de Juros (ETJ), que oferece aos produtores financiamento a juros mais baixos que os praticados no mercado. Nesse sentido, considerando a relevância do financiamento rural no país, questiona-se se o subsídio do crédito rural gera crescimento econômico em todas as macrorregiões brasileiras. O objetivo geral do trabalho é avaliar os impactos dos gastos governamentais com a política de Equalização das Taxas de Juros (ETJ) no crescimento econômico das cinco regiões brasileiras, comparando os gastos da política com os benefícios econômicos gerados. O modelo, o banco de dados e o software do Projeto de Análise de Equilíbrio Geral da Economia Brasileira (Paeg) foram aplicados às simulações. Inicialmente, tem-se o cenário no qual todo o subsídio concedido via ETJ à agropecuária e todo o consumo de insumos intermediários proporcionado pelo crédito rural subsidiado a esse setor são eliminados. Esse cenário visa a estabelecer a importância da política de ETJ em termos de promover o crescimento econômico e o bem-estar nas regiões. Posteriormente, num segundo cenário, simula-se que esse subsídio seja alocado para o setor de transportes, com vistas a calcular o seu retorno alternativo. O primeiro cenário mostra que a política de ETJ proporciona crescimento econômico nas regiões Centro-Oeste, Nordeste e Sul superior a seu custo. Por outro lado, nas regiões Norte e Sudeste verifica-se queda no PIB mediante os gastos com a ETJ. Para o Brasil, cada real gasto com as equalizações promove aumento no PIB equivalente a 1,34 vezes o gasto com a política, evidenciando que a taxa de retorno dos gastos com a ETJ em termos de promover o crescimento econômico é de 34%. Além disso, todas as regiões são beneficiadas em termos de bemestar pela política. Os resultados para o segundo cenário indicam que, para o país, seja em termos de PIB ou em termos de bem-estar dos agentes, os gastos com a ETJ têm retorno alternativo negativo, quando se considera que eles são concedidos ao setor de transportes, em detrimento do setor agropecuário. Em termos regionais, no Centro- Oeste, Nordeste e Sul, o recurso gasto com a ETJ, quando alocado ao setor de transportes, tem retorno alternativo negativo, tanto em termos de crescimento econômico, quanto de bem-estar. No entanto, nas regiões Norte e Sudeste, apesar de não se verificar retorno alternativo positivo em relação a bem-estar, observa-se retorno alternativo positivo em termos de PIB. Conclui-se que, para o país como um todo, a política de ETJ do crédito rural é custo-efetiva em termos de promover o crescimento econômico e o bem-estar. Portanto, algumas políticas intervencionistas podem gerar ganhos em crescimento econômico e bem-estar maiores do que seu próprio custo.Coordenação de Aperfeiçoamento de Pessoal de Nível Superiorapplication/pdfporUniversidade Federal de ViçosaMestrado em Economia AplicadaUFVBREconomia e Gerenciamento do Agronegócio; Economia das Relações Internacionais; Economia dos RecursosEqualização das taxas de jurosCrescimento econômicoPAEGInterest rates equalizationEconomic growthPaegCNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA::TEORIA ECONOMICAEfeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileirasEffects of the interest rates equalization policy of rural credit on the brazilian regionsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:LOCUS Repositório Institucional da UFVinstname:Universidade Federal de Viçosa (UFV)instacron:UFVORIGINALtexto completo.pdfapplication/pdf1364837https://locus.ufv.br//bitstream/123456789/45/1/texto%20completo.pdf4eab6738988ffa2ed497590dd7f903ddMD51TEXTtexto completo.pdf.txttexto completo.pdf.txtExtracted texttext/plain463271https://locus.ufv.br//bitstream/123456789/45/2/texto%20completo.pdf.txtc64dc3ef5ad8e6e8191cc57f31f1bd44MD52THUMBNAILtexto completo.pdf.jpgtexto completo.pdf.jpgIM Thumbnailimage/jpeg3465https://locus.ufv.br//bitstream/123456789/45/3/texto%20completo.pdf.jpg3a079c4f5fa8d9068fd677281d742cbeMD53123456789/452016-04-06 07:57:48.255oai:locus.ufv.br:123456789/45Repositório InstitucionalPUBhttps://www.locus.ufv.br/oai/requestfabiojreis@ufv.bropendoar:21452016-04-06T10:57:48LOCUS Repositório Institucional da UFV - Universidade Federal de Viçosa (UFV)false
dc.title.por.fl_str_mv Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
dc.title.alternative.eng.fl_str_mv Effects of the interest rates equalization policy of rural credit on the brazilian regions
title Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
spellingShingle Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
Cardoso, Débora Freire
Equalização das taxas de juros
Crescimento econômico
PAEG
Interest rates equalization
Economic growth
Paeg
CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA::TEORIA ECONOMICA
title_short Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
title_full Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
title_fullStr Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
title_full_unstemmed Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
title_sort Efeitos da política de equalização das taxas de juros do crédito rural nas regiões brasileiras
author Cardoso, Débora Freire
author_facet Cardoso, Débora Freire
author_role author
dc.contributor.authorLattes.por.fl_str_mv http://lattes.cnpq.br/4775441040633035
dc.contributor.author.fl_str_mv Cardoso, Débora Freire
dc.contributor.advisor-co1.fl_str_mv Campos, Antônio Carvalho
dc.contributor.advisor-co1Lattes.fl_str_mv http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4781810A0
dc.contributor.advisor-co2.fl_str_mv Castro, Eduardo Rodrigues de
dc.contributor.advisor-co2Lattes.fl_str_mv http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4728036Z9
dc.contributor.advisor1.fl_str_mv Teixeira, Erly Cardoso
dc.contributor.advisor1Lattes.fl_str_mv http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4787961Y8
dc.contributor.referee1.fl_str_mv Gurgel, ângelo Costa
dc.contributor.referee1Lattes.fl_str_mv http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4761467Y6
dc.contributor.referee2.fl_str_mv Domingues, Edson Paulo
dc.contributor.referee2Lattes.fl_str_mv http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4707514U6
dc.contributor.referee3.fl_str_mv Gomes, Marília Fernandes Maciel
dc.contributor.referee3Lattes.fl_str_mv http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4780074U1
dc.contributor.referee4.fl_str_mv Reis, Brício dos Santos
dc.contributor.referee4Lattes.fl_str_mv http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4761466Z0
contributor_str_mv Campos, Antônio Carvalho
Castro, Eduardo Rodrigues de
Teixeira, Erly Cardoso
Gurgel, ângelo Costa
Domingues, Edson Paulo
Gomes, Marília Fernandes Maciel
Reis, Brício dos Santos
dc.subject.por.fl_str_mv Equalização das taxas de juros
Crescimento econômico
PAEG
topic Equalização das taxas de juros
Crescimento econômico
PAEG
Interest rates equalization
Economic growth
Paeg
CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA::TEORIA ECONOMICA
dc.subject.eng.fl_str_mv Interest rates equalization
Economic growth
Paeg
dc.subject.cnpq.fl_str_mv CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA::TEORIA ECONOMICA
description Although the classic literature postulating that subsidies bring allocative and distributives inefficiencies, and social cost, developed countries, especially the U.S. and those in the EU insist on the maintenance of policies to support agriculture. This pattern of expenditure in the sector raises the idea that there is economic rational on those subsidies and that they have positive effect on economic growth. In Brazil, the main agricultural subsidy is via rural credit through the Interest Rates Equalization (IRE), which provides credit to producers at lower interest rates than those on the market. It is questioned whether this subsidy generates economic growth to all Brazilian regions. The overall objective is to evaluate the impact of the Interest Rate Equalization policy (IRE) on the economic growth of five Brazilian regions. The model, database and software of the General Equilibrium Analysis Project of the Brazilian Economy (Paeg) are applied to the simulations. Initially, there is the scenario in which all the subsidy via IRE and the entire consumption of intermediate inputs provided by subsidized rural credit to this sector are eliminated. This scenario aims to establish the importance of IRE policy in terms of promoting economic growth and welfare in the regions.Subsequently, a second scenario simulates that this subsidy is allocated to the transportation sector, in order to calculate its alternative rate of return. The first scenario shows that the IRE policy provides economic growth in the Midwest, Northeast and South regions above the cost of the policy. Moreover, in the North and Southeast regions there is a decrease in the GDP. For the country as hole, every dollar spent on IRE promotes an increase in GDP equivalent to 1.34 times the policy cost, that is, the IRE policy rate of return in terms of promoting economic growth is 34%. Furthermore, all regions are benefiting in terms of welfare. The results for the second scenario, that is, when the IRE subsidy is allocated to the transport sector, indicates that for the country, in terms of GDP and welfare increase, the IRE policy has negative alternative rate of return relative. The IRE policy subsidy allocated to the transport sector, in the Midwest, Northeast and South regions, present negative rate of return, both in terms of economic growth and welfare. However, in the North and Southeast regions, although the alternative rate of return, in terms of welfare growth, is negative, the policy has positive alternative return in terms of growth economic. The conclusion is that, for the country as a whole, the IRE policy is cost-effective in terms of promoting economic growth and welfare. Therefore some interventionist policies can generate gains in terms of economic growth and welfare greater than the cost of the policy.
publishDate 2011
dc.date.available.fl_str_mv 2011-11-25
2015-03-19T19:30:06Z
dc.date.issued.fl_str_mv 2011-02-23
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dc.identifier.citation.fl_str_mv CARDOSO, Débora Freire. Effects of the interest rates equalization policy of rural credit on the brazilian regions. 2011. 206 f. Dissertação (Mestrado em Economia e Gerenciamento do Agronegócio; Economia das Relações Internacionais; Economia dos Recursos) - Universidade Federal de Viçosa, Viçosa, 2011.
dc.identifier.uri.fl_str_mv http://locus.ufv.br/handle/123456789/45
identifier_str_mv CARDOSO, Débora Freire. Effects of the interest rates equalization policy of rural credit on the brazilian regions. 2011. 206 f. Dissertação (Mestrado em Economia e Gerenciamento do Agronegócio; Economia das Relações Internacionais; Economia dos Recursos) - Universidade Federal de Viçosa, Viçosa, 2011.
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