Public-debt management: The Brazilian experience / Helder Ferreira de Mendonça and Viviane Santos Vivian.

Format:

Book

Government document

Author/Creator:

Ferreira de Mendonça, Helder, author.

Contributor:

Santos Vivian, Viviane.

Language:

English

Subjects (All):

Economic and Social Development.

Brazil.

Local Subjects:

Economic and Social Development.

Brazil.

Physical Description:

1 online resource (18 pages)

Contained In:

CEPAL Review Vol. 2008, no. 94, p. 145-162 2008:94<145 16840348

Place of Publication:

New York : United Nations, 2008.

System Details:

data file

Summary:

This paper analyses public-debt management in Brazil, and considers the main recent theoretical models and the possible effect that the strategy adopted by the Treasury from 1999 onwards could have on the base interest rate. The findings show that the public-debt-management strategy adopted by Brazil was based on the recommendations of Calvo and Guidotti (1990). The average maturity of public debt, the proportion of shares linked to the Special System of Clearance and Custody (SELIC) and the public-debt-to-GDP ratio all play a significant role in determining the base interest rate. Government efforts to restructure public-debt maturities and reduce the negative effect on the interest rate are key in this regard.

Notes:

Title from title screen (viewed May 1, 2017).

Access Restriction:

Restricted for use by site license.