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Type: Artigo
Title: Capital Account Regulation In Brazil: An Assessment Of The 2009-2013 Period
Title Alternative: Regulação Dos Fluxos De Capitais No Brasil:uma Avaliação Do Período 2009-2013
Author: Prates
Daniela Magalhães; Paula
Luiz Fernando de
Abstract: Brazil was one of the emerging countries that had a stronger trend of currency appreciation from the 2nd quarter of 2009 to July 2011. Under this context that can be understood the implementation of capital account regulation (CAR) after 2009, which was complemented with another kind of regulation, the so-called FX Derivatives Regulation (FXDR). This paper shows that only when Brazilian government adopted these two kinds of regulations simultaneously, the policy effectiveness increased in terms of protecting the Brazilian currency from upward pressures. Brazilian experience also highlights that it is not possible to establish a hierarchy between temporary instruments to manage capital flows and permanent prudential measures, as supported by the IMF current approach.
Subject: Capital Account Liberalization
Capital Controls
Brazilian Economy
Liberalização Da Conta De Capital
Controles De Capitais
Economia Brasileira
Editor: Editora 34
Citation: Revista De Economia Política. Editora 34, v. 37, n. 1, p. 108 - 129
Rights: aberto
Date Issue: 2017
Appears in Collections:Unicamp - Artigos e Outros Documentos

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