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The public deficit and the growth of the federal securities debt (1995-2018)

Author

Listed:
  • Joaquim Miguel Couto
  • Luis Gustavo Alves Lima
  • Ana Cristina Lima Couto

Abstract

The deficit of the public accounts is usually pointed out as the main responsible for the increase of the national debt. However, this is not true. The analysis done this study, for the period 1995 to 2018, showed that the Central Government nominal deficit represented only a smaller part of the growth of the Domestic Federal Public Debt (DPMFi). Other factors, mainly those related to the monetary and exchange policy of the Central Bank, explain most of the growth of the DPMFi in the period. JEL Classification: H6; H63.

Suggested Citation

  • Joaquim Miguel Couto & Luis Gustavo Alves Lima & Ana Cristina Lima Couto, 2021. "The public deficit and the growth of the federal securities debt (1995-2018)," Brazilian Journal of Political Economy, Center of Political Economy, vol. 41(1), pages 65-78.
    • Handle: RePEc:ekm:repojs:v:41:y:2021:i:1:p:65-78:id:2120
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2120/2221
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    More about this item

    Keywords

    DPMFi; public deficit; primary result; nominal result;
    All these keywords.

    JEL classification:

    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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