SciELO - Scientific Electronic Library Online

vol.31 issue5Interests and international relations trajectories: the US and the global finances in a context of crises and transitionInstitutions and regional policies: a proposal for the new Sudene author indexsubject indexarticles search
Home Pagealphabetic serial listing  

Services on Demand




Related links


Brazilian Journal of Political Economy

Print version ISSN 0101-3157


GADELHA, Sérgio Ricardo de Brito. Countercyclical fiscal policy, international financial crisis and economic growth in Brazil. Rev. Econ. Polit. [online]. 2011, vol.31, n.5, pp.794-812. ISSN 0101-3157.

This study analyzes the long run equilibrium relationship and causality between economic growth and public expenditure in Brazil covering the period 1980-2008. The empirical results of the Granger causality test in a multivariate framework have shown up the importance of public investments not only to face the adverse effects of the international financial crisis, but also in stimulating the economic growth. Also, the results indicate the need of controlling the growing path of other current expenditure, social security and public debt.

Keywords : countercyclical fiscal policy; government expenditures; economic growth; Granger causality.

        · text in Portuguese     · Portuguese ( pdf epdf )


Creative Commons License All the contents of this journal, except where otherwise noted, is licensed under a Creative Commons Attribution License