THE INFLUENCE OF FINANCIALIZATION ON THE BRAZILIAN REAL INTEREST RATE
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ABSTRACT This paper analyzes the real interest rate in Brazil. First, we define financialization as the major influence of the financial system on domestic politics. We use the proportion of the stock of federal public debt held by financial market agents as a proxy for financialization. Subsequently, we adopted the VEC methodology to perform cointegration and impulse-response analyses for the period 2007-2017. The results suggest that financialization had a positive effect on the real interest rate level.
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SciELO journals创建时间：
2021-03-26
