Capital Flows and Controls in Brazil: What Have We Learned? / Ilan Goldfajn, André Minella.

Format:

Book

Author/Creator:

Goldfajn, Ilan.

Contributor:

National Bureau of Economic Research.

Minella, André.

Series:

Working Paper Series (National Bureau of Economic Research) no. w11640.

NBER working paper series no. w11640

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Capital Flows and Controls in Brazil

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2005.

Summary:

This paper analyzes the relationship between capital account liberalization and macroeconomic volatility using Brazil as a case study. The paper provides several stylized facts regarding the evolution of capital flows and controls in Brazil in the last three decades. We conclude that, notwithstanding the financial crises and macroeconomic volatility of the recent past, capital account liberalization and the floating exchange regime have led to a more resilient economy. Further liberalization of the capital account is warranted and should be accompanied by a broad range of reforms to improve and foster stronger institutions.

Notes:

Print version record

September 2005.