IDEAS home Printed from https://ideas.repec.org/a/euc/ancoec/v16y2001p83-104.html
   My bibliography  Save this article

Globalização, estabilização e o colapso da empresa nacional

Author

Listed:
  • Furtado, João
  • Valle, Maurício Ribeiro do

Abstract

This paper deals with the restructuring of the Brazilian economy in the recent years, when it gained momentum. The formal model is based on Modigliani-Miller equation on value and an equation on revenues and costs. Both were modified as to include different parameters for the present owner (the local firm) and bidder (the global firm). Our main hypothesis concerns the adoption of two different discount rates, one for the former and other for the latter. This approach allows a view for the control change as an effect of these two different evaluations. This broad change is related to a group of historical factors that came together in the recent growth spurt, amid macroeconomic stabilization, trade liberalization, appreciation of the rate of exchange, and high interest rates. These circumstances set the stage for the convergence of the Brazilian economy towards the global scheme, penalizing the weaker local firms.

Suggested Citation

  • Furtado, João & Valle, Maurício Ribeiro do, 2001. "Globalização, estabilização e o colapso da empresa nacional," Revista Economia e Sociedade, Instituto de Economia, Universidade Estadual de Campinas (UNICAMP), vol. 16, pages 1-22, January.
    • Handle: RePEc:euc:ancoec:v:16:y:2001:p:83-104
    as

    Download full text from publisher

    File URL: http://www.eco.unicamp.br/docprod/downarq.php?id=719&tp=a
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:euc:ancoec:v:16:y:2001:p:83-104. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Antonio Carlos Macedo e Silva (email available below). General contact details of provider: https://edirc.repec.org/data/ieuecbr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.