Can jurisdictional uncertainty and capital controls explain the high level of real interest rates in Brazil? Evidence from panel data

Can jurisdictional uncertainty and capital controls explain the high level of real interest rates in Brazil? Evidence from panel data

This paper tests the assertion, popularized by Arida et al. (2005), that risks associated with the jurisdiction and currency inconvertibility are relevant determinants of the high level of short-term real interest rates in Brazil. The results are by and large unfavorable not only to their conjecture...

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Bibliographic Details
Main Authors: Fernando M. Gonçalves, Márcio Holland, Andrei D. Spacov
Format: Article
Language:English
Published: Fundação Getúlio Vargas 2007-03-01
Series:Revista Brasileira de Economia
Subjects:
Real Interest Rates
Jurisdictional Uncertainty
Institutions
Credit Markets
Capital Controls
Currency Convertibility
Online Access:http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402007000100004

Internet

http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402007000100004

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