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 Luís da Costa
Data de Publicação: 2014
Outros Autores: Basilio, Flávio Augusto Corrêa, Souza, Gustavo José de Guimarães e
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional da UnB
Texto Completo: http://repositorio.unb.br/handle/10482/29171
https://dx.doi.org/10.1590/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.
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spelling Oreiro, José Luís da CostaBasilio, Flávio Augusto CorrêaSouza, Gustavo José de Guimarães e2017-12-07T05:07:10Z2017-12-07T05:07:10Z2014OREIRO, José Luís da Costa; BASILIO, Flávio Augusto Corrêa; SOUZA, Gustavo José de Guimarães e. Effects of overvaluation and exchange rate volatility over industrial investment : empirical evidence and economic policy proposals for Brazil. Revista de Economia Política, São Paulo, v. 34, n. 3, p. 347-369, jul./set. 2014. DOI: https://doi.org/10.1590/S0101-31572014000300001. Disponível em: https://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001&lng=en&tlng=en. Acesso em: 15 jul. 2020.http://repositorio.unb.br/handle/10482/29171https://dx.doi.org/10.1590/S0101-31572014000300001Editora 34Revista de Economia Política - (CC BY-NC) - Todo o conteúdo deste periódico, exceto onde está identificado, está licenciado sob uma Licença Creative Commons. Fonte: https://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001&lng=en&tln g=en. Acesso em: 15 jul. 2020.info:eu-repo/semantics/openAccessEffects of overvaluation and exchange rate volatility over industrial investment : empirical evidence and economic policy proposals for Brazilinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleCâmbioDesenvolvimento econômicoMacroeconomiaThe 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.Faculdade de Economia, Administração, Contabilidade e Gestão de Políticas Públicas (FACE)Departamento de Economia (FACE ECO)engreponame:Repositório Institucional da UnBinstname:Universidade de Brasília (UnB)instacron:UNBORIGINALARTIGO_EffectsOvervaluationExchange.pdfARTIGO_EffectsOvervaluationExchange.pdfapplication/pdf697859http://repositorio2.unb.br/jspui/bitstream/10482/29171/1/ARTIGO_EffectsOvervaluationExchange.pdf717a6f1e8a2dfce6305e534d0303cf0dMD51open access10482/291712023-10-19 14:42:03.786open accessoai:repositorio2.unb.br:10482/29171Biblioteca Digital de Teses e DissertaçõesPUBhttps://repositorio.unb.br/oai/requestopendoar:2023-10-19T17:42:03Repositório Institucional da UnB - Universidade de Brasília (UnB)false
dc.title.pt_BR.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 Luís da Costa
Câmbio
Desenvolvimento econômico
Macroeconomia
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 Luís da Costa
author_facet Oreiro, José Luís da Costa
Basilio, Flávio Augusto Corrêa
Souza, Gustavo José de Guimarães e
author_role author
author2 Basilio, Flávio Augusto Corrêa
Souza, Gustavo José de Guimarães e
author2_role author
author
dc.contributor.author.fl_str_mv Oreiro, José Luís da Costa
Basilio, Flávio Augusto Corrêa
Souza, Gustavo José de Guimarães e
dc.subject.keyword.pt_BR.fl_str_mv Câmbio
Desenvolvimento econômico
Macroeconomia
topic Câmbio
Desenvolvimento econômico
Macroeconomia
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.issued.fl_str_mv 2014
dc.date.accessioned.fl_str_mv 2017-12-07T05:07:10Z
dc.date.available.fl_str_mv 2017-12-07T05:07:10Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.citation.fl_str_mv OREIRO, José Luís da Costa; BASILIO, Flávio Augusto Corrêa; SOUZA, Gustavo José de Guimarães e. Effects of overvaluation and exchange rate volatility over industrial investment : empirical evidence and economic policy proposals for Brazil. Revista de Economia Política, São Paulo, v. 34, n. 3, p. 347-369, jul./set. 2014. DOI: https://doi.org/10.1590/S0101-31572014000300001. Disponível em: https://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001&lng=en&tlng=en. Acesso em: 15 jul. 2020.
dc.identifier.uri.fl_str_mv http://repositorio.unb.br/handle/10482/29171
dc.identifier.doi.pt_BR.fl_str_mv https://dx.doi.org/10.1590/S0101-31572014000300001
identifier_str_mv OREIRO, José Luís da Costa; BASILIO, Flávio Augusto Corrêa; SOUZA, Gustavo José de Guimarães e. Effects of overvaluation and exchange rate volatility over industrial investment : empirical evidence and economic policy proposals for Brazil. Revista de Economia Política, São Paulo, v. 34, n. 3, p. 347-369, jul./set. 2014. DOI: https://doi.org/10.1590/S0101-31572014000300001. Disponível em: https://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572014000300001&lng=en&tlng=en. Acesso em: 15 jul. 2020.
url http://repositorio.unb.br/handle/10482/29171
https://dx.doi.org/10.1590/S0101-31572014000300001
dc.language.iso.fl_str_mv eng
language eng
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eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Editora 34
publisher.none.fl_str_mv Editora 34
dc.source.none.fl_str_mv reponame:Repositório Institucional da UnB
instname:Universidade de Brasília (UnB)
instacron:UNB
instname_str Universidade de Brasília (UnB)
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institution UNB
reponame_str Repositório Institucional da UnB
collection Repositório Institucional da UnB
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