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Integração Financeira e Reformas Institucionais

Author

Listed:
  • Milton André Stella

    (Pontifícia Universidade Católica do Rio Grande do Sul (PUCRS), Brasil)

  • Ronald Otto Hillbrecht

    (Pontifícia Universidade Católica do Rio Grande do Sul (PUCRS), Brasil)

  • Alexandre Alves Porsse

    (Universidade Federal do Paraná (UFPR), Brasil)

Abstract

Este artigo busca analisar os impactos indiretos do processo de integração financeira, com destaque para seus efeitos sobre os incentivos a promoção de reformas institucionais nos países. O estudo busca testar se a abertura de capital, por representar um canal de punição às políticas mal avaliadas pelo mercado, pode estimular reformas institucionais que visem a ampliação da liberdade econômica, redução dos riscos políticos e relacionados às transações econômicas. Os resultados, para a amostra de 39 países utilizada, são evidências favoráveis a está hipótese. O estudo também indica que o índice que captura a avaliação das instituições sofre transformação por até três períodos posteriores ao da abertura financeira.

Suggested Citation

  • Milton André Stella & Ronald Otto Hillbrecht & Alexandre Alves Porsse, 2012. "Integração Financeira e Reformas Institucionais," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 13(3a), pages 603-627.
  • Handle: RePEc:anp:econom:v:13:y:2012:i:3a:603_627
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    More about this item

    Keywords

    Integração Financeira; Efeitos Colaterais; Reformas;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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