Real Exchange Rate And Investment In The Brazilian Manufacturing Industry

dc.creatorBaltar
dc.creatorCT; Hiratuka
dc.creatorC; Lima
dc.creatorGT
dc.date2016
dc.date2016-12-06T18:29:51Z
dc.date2016-12-06T18:29:51Z
dc.date.accessioned2018-03-29T02:02:22Z
dc.date.available2018-03-29T02:02:22Z
dc.identifier
dc.identifierJournal Of Economic Studies. EMERALD GROUP PUBLISHING LTD, n. 43, n. 2, p. 288 - 308.
dc.identifier0144-3585
dc.identifierWOS:000375722400008
dc.identifier10.1108/JES-07-2014-0134
dc.identifierhttp://www.emeraldinsight.com/doi/full/10.1108/JES-07-2014-0134
dc.identifierhttp://repositorio.unicamp.br/jspui/handle/REPOSIP/319882
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/1310648
dc.descriptionPurpose - The purpose of this paper is to study the impact of the real exchange rate on investment in the Brazilian manufacturing industry. Design/methodology/approach - The authors develop an investment model that considers the effect of changes in the real exchange rate, taking into account that the effect of the real exchange rate on the Brazilian manufacturing investment operates through demand and cost channels. The composition of these effects varies across manufacturing sectors, with different repercussions on investment decisions, depending on sectoral characteristics. A panel data analysis is applied to estimate the model for the Brazilian manufacturing sectors from 1996 to 2010. Findings -One main result is that the responsiveness of the Brazilian manufacturing investment to real exchange rate varies considerably across manufacturing sectors. Overall, the results contribute to a better understanding of the relationship between exchange rate dynamics, manufacturing investment and industrial development, thus unveiling important empirical elements for the debate on industrial policies to stimulate manufacturing investment and production. Originality/value - As the (scant) empirical literature on real exchange rate and investment in Brazil has invariably been using aggregate data, this paper contributes to the literature by obtaining sectoral estimates of the responsiveness of manufacturing investment to exchange rate fluctuations that further the understanding of the complex relationship between these economic variables.
dc.description43
dc.description
dc.description288
dc.description308
dc.description
dc.description
dc.description
dc.languageEnglish
dc.publisherEMERALD GROUP PUBLISHING LTD
dc.publisherBINGLEY
dc.relationJournal Of Economic Studies
dc.rightsfechado
dc.sourceWOS
dc.subjectInvestment
dc.subjectManufacturing Industry
dc.subjectReal Exchange Rate
dc.titleReal Exchange Rate And Investment In The Brazilian Manufacturing Industry
dc.typeArtículos de revistas


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