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External vulnerability and composition of the international investment position: Brazil 2001-2010

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  • Paulo Van Noije

Abstract

External vulnerability and composition of the Brazilian International Investment Position: 2001-2010. The aim of this paper is to indicate that there was a significant change in the composition of the Brazilian International Investment Position in the period 2001-2010: international reserves became higher than the external debt and decreased the share of foreign liabilities denominated in foreign currency, getting smaller that the participation of the external liabilities denominated in domestic currency. These tend to suffer a double devaluation (prices and exchange rates) in times of crisis, thus characterizing the reduction of the external vulnerability in the financial sphere as evidenced in the global crisis hatched in 2008. JEL Classification: E00; F21; F34; H12.

Suggested Citation

  • Paulo Van Noije, 2014. "External vulnerability and composition of the international investment position: Brazil 2001-2010," Brazilian Journal of Political Economy, Center of Political Economy, vol. 34(3), pages 471-484.
    • Handle: RePEc:ekm:repojs:v:34:y:2014:i:3:p:471-484:id:283
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/283/274
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    More about this item

    Keywords

    International Investment Position; external vulnerability; 2008 global crisis; Brazilian economy; international reserves;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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