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http://hdl.handle.net/10419/63243
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| Title: | | Inflation and financial development: Evidence from Brazil  |
| Authors: | | Bittencourt, Manoel |
| Issue Date: | | 2008 |
| Series/Report no.: | | Research Paper, UNU-WIDER, United Nations University (UNU) 2008/14 |
| Abstract: | | We examine the impact of inflation on financial development in Brazil and the data available permit us to cover the period between 1985 and 2002. The results – based initially on time-series and then on panel time-series data and analysis, and robust for different estimators and financial development measures – suggest that inflation presented deleterious effects on financial development at the time. The main implication of the results is that poor macroeconomic performance has detrimental effects to financial development, a variable that is important for affecting, for example, economic growth and income inequality. Therefore, low and stable inflation, and all that it encompasses, is a necessary first step to achieve a deeper and more active financial sector with all its attached benefits. |
| Subjects: | | financial development inflation Brazil |
| JEL: | | E31 E44 O11 O54 |
| ISBN: | | 978-92-9230-056-2 |
| Document Type: | | Working Paper |
| Appears in Collections: | | WIDER Research Papers, United Nations University (UNU)
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