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Revisiting the quarterly investment dynamics in Brazil: 1996-2012

Author

Listed:
  • Cláudio Hamilton Matos dos Santos
  • André de Melo Modenesi
  • Gabriel Squeff
  • Lucas Vasconcelos
  • Monica Mora
  • Thais Fernandes
  • Thiago Moraes
  • Ricardo Summa
  • Julia Braga

Abstract

This text discusses the data on and thestylized facts of the dynamics of Brazil´s grossfixed capital formation (GFCF) since 1995. It also presents new econometrics pecifications for the quarterly dynamics of the Brazilian GFCG in the 1996-2012 years that suggest new causal interpretations to the problemath and. The data makeclear the different dynamics of the GFCF in dwellings and other buildings and structures and in machinery and equipment – and, as a consequence, the crucial role of the latter variable in the dynamics of Brazilian aggregate investment. The econometric specifications, in turn, suggest shocks in the real exchange rate international commodity prices and public investment as underlying causal mechanisms of the quarterly behavior of the Brazilian GFCF. JEL Classification: C22; C82; E22.

Suggested Citation

  • Cláudio Hamilton Matos dos Santos & André de Melo Modenesi & Gabriel Squeff & Lucas Vasconcelos & Monica Mora & Thais Fernandes & Thiago Moraes & Ricardo Summa & Julia Braga, 2016. "Revisiting the quarterly investment dynamics in Brazil: 1996-2012," Brazilian Journal of Political Economy, Center of Political Economy, vol. 36(1), pages 190-213.
    • Handle: RePEc:ekm:repojs:v:36:y:2016:i:1:p:190-213:id:179
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    More about this item

    Keywords

    Brazilian investment; national accounts; time series models;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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