Os efeitos de variacoes cambiais sobre o deficit publico

In: Brazilian journal of political economy: Revista de economia política, Band 13, Heft 1, S. 37-51

Abstract

The study measures the direct effect of exchange policy on public finances in Brazil in the period 1985-1988. The compilation of all public revenues and expenditures, affected by exchange rate changes, as well as their consolidation, is assessed. For this purpose, the public sector balance of payments is drawn from actual data and, if necessary, from estimates. The survey concludes that the relationship between Brazilian public finance and the external sector, governed by high indebtedness, determines a negative direct impact response of the public sector fiscal deficit to real depreciation of the foreign exchange rate