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Did the recent Brazilian economic defaults originate from real economic or financial issues?
https://doi.org/10.20561/00050810
https://doi.org/10.20561/00050810e89c14ac-a8f0-421a-b802-0d10ef92ec80
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
Full-text PDF (864.7 kB)
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| Item type | アジ研テクニカルレポート / IDE Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2019-03-29 | |||||
| タイトル | ||||||
| タイトル | Did the recent Brazilian economic defaults originate from real economic or financial issues? | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| ID登録 | ||||||
| ID登録 | 10.20561/00050810 | |||||
| ID登録タイプ | JaLC | |||||
| 著者 |
Burkowski, Erika
× Burkowski, Erika× Kim, Jiyoung |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This paper aims to discover whether the origins of the recent Brazilian economic defaults (2009, 2015, and 2016) were related to the real economy or to pure financial transactions. To do so, we analyzed the discrepancy of dispersion index (DDI) and structural path decomposition from flow of funds (FOF) matrices of the Brazilian economy from 2004 to 2015. Financial transactions mirrored real transactions in almost every year, except in 2008, when financial transactions more highly contributed to the imbalance. Additionally, the total value of financial firms’ transactions grew more than that of non-financial firms in periods preceding economic defaults (2008 and 2014) while the continued growth of non-financial firms transactions decreased the DDI in 2009 and 2015. Changes in the power of dispersion indices corroborated this observation by pointing out that the government and non-financial firms reduced their financial sharing while financial firms improved their role as financial intermediaries and, at the same time, the rest of the world was receiving a significant portion of Brazilian savings. | |||||
| 権利 | ||||||
| 権利情報 | Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp | |||||
| 収録情報 |
IDE Discussion Paper en : IDE Discussion Paper 巻 751, 発行日 2019-03 |
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| 出版者 | ||||||
| 出版者 | Institute of Developing Economies (IDE-JETRO) | |||||
| 著者版フラグ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:C67 - Input–Output Models | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:D53 - Financial Markets | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:G20 - General | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:N26 - Latin America • Caribbean | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:O16 - Financial Markets • Saving and Capital Investment … | |||||
| 地域/国名 | ||||||
| 位置情報（自由記述） | Brazil | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | flow of funds | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | asset liability matrix | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | financial imbalance | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | system of national account | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | financial instruments | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Financial crises | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| DIG_NO | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | IDP000751_001 | |||||
