Biblioteca Digital de VanguardiaBehaved instability: public debt and institutional investors in Brazil
This article aims to investigate the economic implications of the participation of institutional investors in the context of the brazilian market. Therefore, the valuation positions maintained by these players in relation to the composition of their investment portfolios should be observed. It is pr...
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| Formato: | info:eu-repo/semantics/article |
| Lenguaje: | Portugués |
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Departamento de Economia
2018
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| Acceso en línea: | https://periodicos.fclar.unesp.br/iniciativa/article/view/9579 http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/64940 |
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| author | Damásio, Kevin Luís |
| author_facet | Damásio, Kevin Luís |
| author_sort | Damásio, Kevin Luís |
| collection | Repositorio |
| description | This article aims to investigate the economic implications of the participation of institutional investors in the context of the brazilian market. Therefore, the valuation positions maintained by these players in relation to the composition of their investment portfolios should be observed. It is prudent to note that the portfolio of these agents is constrained by the increase of deadlines and the weighting of greater risks, given the process of valuation attraction given by the brazilian public debt situation. The guarantee of access to papers that combine liquidity, profitability and relative low risk with public debt, constrains institutional investors to seek value gains in projects such as financing of long-term investments in new industrial plants and capital goods. On the other hand, it is indicated that this conservative behavior of the institutional investors helps in the prevention of large speculative movements in the brazilian market, conducting us to reinterpret the analysis of the hypothesis of Minsky's financial instability having in account the specificities of the Brazilian case. |
| format | info:eu-repo/semantics/article |
| id | clacso-CLACSO64940 |
| institution | CLACSO, Repositorio Digital |
| language | Portugués |
| publishDate | 2018 |
| publisher | Departamento de Economia |
| record_format | greenstone |
| spelling | clacso-CLACSO649402022-03-18T19:20:59Z Behaved instability: public debt and institutional investors in Brazil Instabilidade comportada: dívida pública e investidores institucionais no Brasil Damásio, Kevin Luís Public debt Instability Institutional investors Financing Pension funds Dívida pública Instabilidade Investidores institucionais Financiamento Fundos de pensão This article aims to investigate the economic implications of the participation of institutional investors in the context of the brazilian market. Therefore, the valuation positions maintained by these players in relation to the composition of their investment portfolios should be observed. It is prudent to note that the portfolio of these agents is constrained by the increase of deadlines and the weighting of greater risks, given the process of valuation attraction given by the brazilian public debt situation. The guarantee of access to papers that combine liquidity, profitability and relative low risk with public debt, constrains institutional investors to seek value gains in projects such as financing of long-term investments in new industrial plants and capital goods. On the other hand, it is indicated that this conservative behavior of the institutional investors helps in the prevention of large speculative movements in the brazilian market, conducting us to reinterpret the analysis of the hypothesis of Minsky's financial instability having in account the specificities of the Brazilian case. Esse artigo objetiva investigar as implicações econômicas da participação de investidores institucionais no contexto do mercado brasileiro. Para tanto, deve-se observar as posições valorativas mantidas por esses atores em relação à composição de suas carteiras de investimento. É prudente notar que o portfólio desses agentes sofre constrangimento para ampliação de prazos e ponderamento de maiores riscos, diante do processo de atração valorativa dado pela situação da dívida pública brasileira. A garantia de acesso a papéis que confluem liquidez, rentabilidade e relativo baixo risco com a dívida pública, constrange investidores institucionais a buscarem ganhos valorativos em empreendimentos como financiamento de investimentos de longo prazo em novas plantas industriais e bens de capital. Por outro lado, indica-se que esse comportamento conservador dos investidores institucionais auxilia na prevenção a grandes movimentações especulativas no mercado brasileiro, nos conduzindo a reinterpretamos a análise da hipótese da instabilidade financeira de Minsky diante das especificidades do caso brasileiro. 2018-06-29 2022-03-18T19:20:59Z 2022-03-18T19:20:59Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Artigo avaliado pelos Pares https://periodicos.fclar.unesp.br/iniciativa/article/view/9579 http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/64940 por https://periodicos.fclar.unesp.br/iniciativa/article/view/9579/7399 Copyright (c) 2018 Revista Iniciativa Econômica application/pdf Departamento de Economia Revista Iniciativa Econômica; v. 3 n. 1 (2017) 2358-5951 |
| spellingShingle | Public debt Instability Institutional investors Financing Pension funds Dívida pública Instabilidade Investidores institucionais Financiamento Fundos de pensão Damásio, Kevin Luís Behaved instability: public debt and institutional investors in Brazil |
| title | Behaved instability: public debt and institutional investors in Brazil |
| title_full | Behaved instability: public debt and institutional investors in Brazil |
| title_fullStr | Behaved instability: public debt and institutional investors in Brazil |
| title_full_unstemmed | Behaved instability: public debt and institutional investors in Brazil |
| title_short | Behaved instability: public debt and institutional investors in Brazil |
| title_sort | behaved instability: public debt and institutional investors in brazil |
| topic | Public debt Instability Institutional investors Financing Pension funds Dívida pública Instabilidade Investidores institucionais Financiamento Fundos de pensão |
| url | https://periodicos.fclar.unesp.br/iniciativa/article/view/9579 http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/64940 |