The deficit of the public accounts is usually pointed out as the main responsible for the increase of the national debt. However, this is not true. The analysis done this study, for the period 1995 to 2018, showed that the Central Government nominal deficit represented only a smaller part of the growth of the Domestic Federal Public Debt (DPMFi). Other factors, mainly those related to the monetary and exchange policy of the Central Bank, explain most of the growth of the DPMFi in the period.
CITATION STYLE
Couto, J. M., Lima, L. G. A., & Couto, A. C. L. (2021). The public deficit and the growth of the federal securities debt (1985-2018). Brazilian Journal of Political Economy, 41(1), 65–78. https://doi.org/10.1590/0101-31572021-2915
Mendeley helps you to discover research relevant for your work.