Investment of Firms in Brazil: Do Financial Restrictions, Unexpected Monetary Shocks and BNDES Play Important Roles?

dc.creatorOliveira, Fernando Nascimento
dc.date2019-06-19
dc.date.accessioned2023-08-31T21:38:19Z
dc.date.available2023-08-31T21:38:19Z
dc.identifierhttps://periodicos.fgv.br/rbe/article/view/73183
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/8560194
dc.descriptionOur objective in this paper is to estimate the dynamics of firm investment in Brazil. For this purpose, we built an original database with confidential and public data containing balance sheet and financial information of 4,876 public and private firms from 1995 to 2010. We then classify these firms as financially restricted or not. Our results show that unexpected monetary shocks, financial restrictions and Brazil´s development bank, BNDES, financing policies are very important to explain the dynamics of investment in Brazil. Our results are robust to several model specifications and econometric techniques.   en-US
dc.formatapplication/pdf
dc.languageeng
dc.publisherEGV EPGEpt-BR
dc.relationhttps://periodicos.fgv.br/rbe/article/view/73183/76188
dc.rightsCopyright (c) 2019 Revista Brasileira de Economiapt-BR
dc.sourceRevista Brasileira de Economia; Vol. 73 No. 2 (2019): ABR-JUN; 235-251en-US
dc.sourceRevista Brasileira de Economia; v. 73 n. 2 (2019): ABR-JUN; 235-251pt-BR
dc.source1806-9134
dc.source0034-7140
dc.subjectInvestmenten-US
dc.subjectUnexpected Monetary Shocksen-US
dc.subjectFirms Financially Restricteden-US
dc.subjectBNDESen-US
dc.titleInvestment of Firms in Brazil: Do Financial Restrictions, Unexpected Monetary Shocks and BNDES Play Important Roles?en-US
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion
dc.typeArticlesen-US
dc.typeArtigospt-BR


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