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The financial aspects of the COVID-19 crisis in Brazil: a Minskyan approach

In: Central Banks and Monetary Regimes in Emerging Countries

Author

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  • Norberto Montani Martins
  • Ernani Teixeira Torres Filho
  • Luiz Macahyba

Abstract

Based on a Minskyian framework, this chapter analyzes how the COVID-19 crisis unfolded in Brazil and the measures adopted by the government to prevent its effects between March 2020 and March 2021. We conclude that liquidity measures adopted by Brazilian authorities contributed to avoid the financial instability morphing into a full-fledged crisis. However, the erratic support to business and households may not be sufficient to avoid a massive increase in financial fragility in the Brazilian economy.

Suggested Citation

  • Norberto Montani Martins & Ernani Teixeira Torres Filho & Luiz Macahyba, 2023. "The financial aspects of the COVID-19 crisis in Brazil: a Minskyan approach," Chapters, in: Fernando Ferrari-Filho & Liuz Fernando de Paula (ed.), Central Banks and Monetary Regimes in Emerging Countries, chapter 11, pages 209-227, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21116_11
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    Keywords

    Development Studies; Economics and Finance;

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