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Book Cover
E-book
Author Karpowicz, I. (Izabela), (IMF staff)

Title A closer look at sectoral financial linkages in Brazil I : corporations financial statements / prepared by Izabela Karpowicz, Fabian Lipinsky, and Jongho Park
Published [Washington, D.C.] : International Monetary Fund, 2016
©2016

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Description 1 online resource (30 pages) : illustrations
Series IMF Working Paper ; WP/16/45
IMF working paper ; WP/16/45.
Summary Understanding the interplay between firms balance sheets and the macro-economic environment is important for understanding of the Brazilian economy. A close examination of developments in the nonfinancial corporate sector up to the early 2015 reveals weak equity growth, declining profitability, and rising leverage. The empirical work suggests that adverse shocks to financial variables lead to weaker real GDP growth in Brazil through their effect on corporate leverage, borrowing costs, and default frequencies. An estimation based on a DSGE model with financial frictions indicates that the recent economic downturn in Brazil is largely driven by a decrease in total factor productivity and by negative financial shocks. --Abstract
Notes "March 2016."
"Western Hemisphere Department."
Bibliography Includes bibliographical references (pages 20-21)
Notes Online resource; title from pdf title page (IMF.org Web site, viewed March 7, 2016)
Subject Financial statements -- Brazil -- Econometric models
Financial crises -- Brazil -- Econometric models
Industrial productivity -- Brazil -- Econometric models
Financial crises -- Econometric models.
Financial statements -- Econometric models.
Industrial productivity -- Econometric models.
Brazil.
Form Electronic book
Author Lipinsky, Fabian, (IMF staff)
Park, Jongho, author.
International Monetary Fund. Western Hemisphere Department, issuing body.
ISBN 1513536885
9781513536880
ISSN 1018-5941