Investimentos públicos e privados no Brasil entre 1996 e 2018

Bredow, Sabrina Monique Schenato; Cunha, André Moreira

doi:10.1590/0101-31572022-3273

Cited by 1 publication

(1 citation statement)

References 22 publications

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“…The results demonstrated that measures to reduce public investment, especially in infrastructure, observed in Brazil in the 1980s resulted in a slower growth trajectory. Bredow, Cunha, and L elis (2022) found a similar result when using private investment in machinery and equipment as a proxy.…”

Section: Econsupporting

confidence: 52%

Public investment, infrastructure and private investment in Brazil: is there a crowding-in effect?

Iasco-Pereira,

Duregger

2024

ECON

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PurposeOur study aims to evaluate the impact of infrastructure and public investment on private investment in machinery and equipment in Brazil from 1947 to 2017. The contribution of our article to the existing literature lies in providing a more comprehensive understanding of the presence or absence of the crowding effect in the Brazilian economy by leveraging an extensive historical database. Our central argument posits that the recent decline in private capital accumulation over the last few decades can be attributed to shifts in economic policies – moving from a developmentalist orientation to nondevelopmental guidance since the early 1990s, which is reflected in the diminished levels of public investment and infrastructure since the 1980s.Design/methodology/approachWe conducted a series of econometric regressions utilizing the autoregressive distributed lag (ARDL) model as our chosen econometric methodology.FindingsEmploying two different variables to measure public investment and infrastructure, our results – robust across various specifications – have substantiated the existence of a crowding-in effect in Brazil over the examined period. Thus, we have empirical evidence indicating that the state has influenced private capital accumulation in the Brazilian economy over the past decades.Originality/valueOur article contributes to the existing literature by offering a more comprehensive understanding of the crowding effect in the Brazilian economy, utilizing an extensive historical database.

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Section: Econsupporting

confidence: 52%