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Revista de Economia Contemporânea

versão impressa ISSN 1415-9848versão On-line ISSN 1980-5527

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LELIS, Marcos Tadeu Caputi; BREDOW, Sabrina Monique Schenato  e  CUNHA, André Moreira. Macroeconomic determinants of investment in Brazil: an empirical analysis for the period 1996-2012. Rev. econ. contemp. [online]. 2015, vol.19, n.2, pp.203-234. ISSN 1980-5527.  https://doi.org/10.1590/198055271922.

This paper aims at analysing the macroeconomic determinants of the aggregate private investment in the Brazilian economy from 1996 to 2012. The paper presents the main investment theories, contrasting neoclassical and Keynesian models, reviews the previous empirical literature and provides potentially new evidence on the topic. Our results suggest that the variables usually associated with Keynesian models, such as credit, demand and expectations, have better explained the private investment dynamic in Brazil. Finally, we have also explored relationships between our results and the contemporary debate on Brazil's economic growth performance.

Palavras-chave : private investment; Keynesian models; Brazil; economic growth..

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