Financial liberalization, capital account regulation and economic policy in Brazil

2014 ◽  
pp. 301-325 ◽  
Author(s):  
Luiz Fernando de Paula
Keyword(s):  
Economic Policy ◽  
Financial Liberalization ◽  
Capital Account ◽  
Account Regulation

Effectiveness of capital account regulation: Lessons from Brazil and Peru

2019 ◽  
Vol 64 ◽  
pp. 176-194
Author(s):  
Pablo Aguirre ◽  
José Antonio Alonso ◽  
Miguel Jerez
Keyword(s):  
Capital Account ◽  
Account Regulation

scholarly journals A comparative analysis of the financial liberalization in Turkey and Brazil

2020 ◽  
Vol 67 (2) ◽  
pp. 207-224
Author(s):  
Gover Tugrul
Keyword(s):  
Comparative Analysis ◽  
Capital Flows ◽  
Financial Integration ◽  
Financial Liberalization ◽  
Capital Controls ◽  
The Other ◽  
Capital Account ◽  
Other Hand ◽  
Capital Outflows ◽  
The One

The objective of this study is to explain the financial liberalization processes in Turkey and Brazil, to analyze the external financial liberalization processes and the financial integration indices and to compare the developments in the financial integration indices of Turkey and Brazil during the period 1980-2013. Our analysis revealed that, on the one hand, Brazil has continued its external liberalization process since the 1990s, but on the other hand, Brazil used two main tools to manage the capital flows, namely, capital controls and liberalization of capital outflows. In contrast, Turkey did not employ these tools following liberalization of the capital account.

scholarly journals Capital account regulation in Brazil: An assessment of the 2009-2013 period

2017 ◽  
Vol 37 (1) ◽  
pp. 108-129 ◽  
Author(s):  
DANIELA MAGALHÃES PRATES ◽  
LUIZ FERNANDO DE PAULA
Keyword(s):  
Capital Flows ◽  
Emerging Countries ◽  
Current Approach ◽  
Capital Account ◽  
Policy Effectiveness ◽  
Brazilian Government ◽  
Account Regulation ◽  
The Imf

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.

The impact of financial openness on the earnings of self-employed workers – an empirical evidence from a panel dataset

2020 ◽  
Vol 20 (2) ◽  
Author(s):  
Thi Thu Huong Le
Keyword(s):  
Financial Integration ◽  
Financial Liberalization ◽  
Empirical Work ◽  
Developed Countries ◽  
Capital Account ◽  
Positive Relation ◽  
Financial Openness ◽  
Rule Based ◽  
Income Share ◽  
The Impact

This paper contributes to the literature on the effect of financial openness by investigating the factors and determinants which drive the income share to self-employed labor during financial liberalization. The question of the precise impact of liberalization on the share of the self-employed has received less attention in the literature. The authors use a de jure or a rule-based indicator as a measure of capital account openness. The empirical work is applied for a panel dataset of 30 countries during the period of 1970 – 2015. The results from all specifications support the hypothesis that financial integration leads to an increase in the unemployment rate as well as in the income share of self-employed. Nevertheless, the positive relation between financial openness and self-employed income is not evident when we focus solely on developed countries.

Capital Account Liberalization Institutions and Economic Growth in the Emerging World

2021 ◽  
Vol 7 (3) ◽  
pp. 749-756
Author(s):  
Muhammad Atiq-Ur- Rehman ◽  
Furrukh Bashir ◽  
Salyha Zulfiqar Ali Shah ◽  
Muhammad Azhar Bhatti
Keyword(s):  
Economic Growth ◽  
Financial Liberalization ◽  
Emerging Market ◽  
Output Growth ◽  
Capital Account ◽  
Capital Account Liberalization ◽  
Policy Makers ◽  
Institutional Variables ◽  
Institutional Infrastructure ◽  
The Impact

Purpose: The relationship between capital account liberalization and economic growth has been a fervently discussed subject among economists and policy-makers. The role of institutions is imperious to comprehensively investigate the impact of financial openness on growth. The objective of the study is to inspect the nexus between financial liberalization and economic growth after incorporating the contribution of institutional quality. Methodology: A panel of data on 17 emerging market economies (EMEs) is used for the period 1995-2019. We employ the GMM technique by using different de facto and de jure measures of financial liberalization along with institutional variables. Findings: The empirical results illustrate that better quality institutions strengthen the connection between capital account liberalization and output growth in the emerging World. Implications: The policymakers should focus on the more beneficial nature of financial liberalization such as FDI. Also, the policy should be aiming at availing the services of efficient human resources with proper institutional infrastructure.

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