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The financial fragility hypothesis applied to the public sector: an analysis for Brazil's economy from 2000 to 2008

Author

Listed:
  • Fernando Ferrari-Filho
  • Fábio Henrique Bittes Terra
  • Octavio A. C. Conceição

Abstract

This paper builds on Hyman Minsky's financial fragility hypothesis to develop a financial fragility index for the public-sector financial structure. It applies the financial fragility index for the public-sector financial structure to analyze Brazil's public-sector financial structure from 2000 to 2008. The paper concludes that Brazil's financial structure was speculative during the 2000s. As a result, public debt increased during this period, and the public sector was unable to adopt countercyclical fiscal policies.

Suggested Citation

  • Fernando Ferrari-Filho & Fábio Henrique Bittes Terra & Octavio A. C. Conceição, 2010. "The financial fragility hypothesis applied to the public sector: an analysis for Brazil's economy from 2000 to 2008," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 33(1), pages 151-168, October.
    • Handle: RePEc:mes:postke:v:33:y:2010:i:1:p:151-168
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    Cited by:

    1. Hiroshi Nishi, 2019. "An empirical contribution to Minsky’s financial fragility: evidence from non-financial sectors in Japan," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 43(3), pages 585-622.
    2. Maria Nikolaidi, 2017. "Three decades of modelling Minsky: what we have learned and the way forward," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 14(2), pages 222-237, September.

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