FINANCIAL FRAGILITY OF THE BRAZILIAN NON-FINANCIAL OPEN-CAPITAL ENTERPRISES BETWEEN 2010 AND 2016: A SECTORIAL ANALYSIS INSPIRED BY MINSKY

Authors

  • Lilian Nogueira Rolim Universidade Estadual de Campinas (UNICAMP), Instituto de Economia (IE), Programa de Pós- -Graduação em Economia. Campinas, São Paulo, Brasil. http://orcid.org/0000-0002-9880-2823
    • Rafael Cattan Universidade Estadual de Campinas (UNICAMP), Instituto de Economia (IE), Programa de Pós- -Graduação em Economia. Campinas, São Paulo, Brasil.
      • Jorge Antonioli Universidade Estadual de Campinas (UNICAMP), Instituto de Economia (IE), Programa de Pós- -Graduação em Economia. Campinas, São Paulo, Brasil

        DOI:

        https://doi.org/10.22456/2176-5456.84247

        Keywords:

        Minsky, Brazil, Financial instability hypothesis, Open capital enterprises

        Abstract

        The paper analyses the financial fragility of Brazilian open-capital non-financial enterprises between 2010 and 2016 according to the typology suggested by
        Minsky (1992). Applying the methodology from Bacic (1990), the profile of 19 of the 20
        economic sectors listed by the Economatica software was analyzed. Concerning the
        selected period, which was characterized by the reduction of commodities prices, currency depreciation, deceleration of economic growth at the global and domestic levels,
        and worsening of the financial sources, it was possible to identify a reduction of firms
        in hedge position and an increase in the number of speculative and ponzi enterprises. However, there are specific sectorial patterns that suggest that some sectors are more
        resilient than others. This analysis supports the conclusion that, during the reversal of
        economic cycle, the overall financial fragility of open-capital enterprises increased.



        Downloads

        Download data is not yet available.

        Author Biography

        Lilian Nogueira Rolim, Universidade Estadual de Campinas (UNICAMP), Instituto de Economia (IE), Programa de Pós- -Graduação em Economia. Campinas, São Paulo, Brasil.

        Doutoranda no Instituto de Economia da Universidade Estadual de Campinas. Mestre em Economia pela Universidade Estadual de Campinas e pela Université Paris XIII (França).

        Downloads

        Published

        2021-03-09

        How to Cite

        Rolim, L. N., Cattan, R., & Antonioli, J. (2021). FINANCIAL FRAGILITY OF THE BRAZILIAN NON-FINANCIAL OPEN-CAPITAL ENTERPRISES BETWEEN 2010 AND 2016: A SECTORIAL ANALYSIS INSPIRED BY MINSKY. Análise Econômica, 39(78). https://doi.org/10.22456/2176-5456.84247

        Issue

        Vol. 39 No. 78 (2021): Março/2021

        Section

        Artigos

        License

        Direitos Autorais para artigos publicados nesta revista são do autor, com direitos de primeira publicação para a revista. Em virtude da aparecerem nesta revista de acesso público, os artigos são de uso gratuito, com atribuições próprias, em aplicações educacionais e não-comerciais.