UM ESTUDO CRÍTICO DAS RELAÇÕES ENTRE AS POUPANÇAS PRIVADA, PÚBLICA E NACIONAL

Abstract

With the difficulty in growing faced by the Brazilian economy after the Implementation of Piano Real, the necessity of diminishing the public deficit has been discussed as a strategy to promote growth. The argument is that diminishing the public expenditure there will be an Increase In the public saving, which would be fundamental to Investment. The conclusions of Corbo & Schimidt-Hebbel (1991)'s work, which were obtained by a classical econometric analysis, give support to this argument. The present work, making use of both a larger sample than the mentioned autors and The New Econometrics, criticize those conclusions for Brazil.