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http://hdl.handle.net/11422/17913| Type: | Relatório |
| Title: | Profits persistence in Brazil: a panel data study |
| Author(s)/Inventor(s): | Resende, Marcelo |
| Abstract: | O artigo investiga a persisténcia dos lucros para firmas industriais no Brasil ao longo do periodo 1986-98. Uma abordagem tedrica simplificada justifica uma formulacdo auto regressiva para 0 excesso de lucros. Uma forma forte de persisténcia pode entao ser relacionada a presenga de umaraiz unitaria. Testes para raiz unitaria em painel recentemente desenvolvidos possibilitam a consideragao de painéis curtos. Os resultados assim obtidos para trés formas diferentes de excesso de lucratividade predominatemente favorecem a presenca de uma raiz unitaria, indicando que apesar do ambiente mais competitivo na economia brasileira pode-se ainda observar lucros extremamente persistentes. |
| Abstract: | The paper investigates the persistence of profits for industrial firms in Brazil during the period 1986-98. A simple theoretical frameworkjustifies an autoregressive formulation for excess profits. A strong form of persistence can then be related to the presence of a unit root. Recently developed panel data unit root tests enable the consideration of short panels. The results thus obtained for three different forms of excess profitability mostly favour the presence of a unit root,indicating that despite a more competitive environmentin the Brazilian economy onecan still observe extremely persistent profits. |
| Keywords: | Lucros Empresa industrial Brasil 1986-98 |
| Subject CNPq: | CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
| Production unit: | UFRJ::Centro de Ciências Jurídicas e Econômicas::Instituto de Economia |
| Publisher: | Universidade Federal do Rio de Janeiro |
| In: | Texto para discussão |
| Issue: | 446 |
| Issue Date: | Jul-2000 |
| Publisher country: | Brasil |
| Language: | eng |
| Right access: | Acesso Aberto |
| Citation: | Resende, Marcelo. Profits persistence in Brazil: a panel data study. Rio de Janeiro : Universidade Federal do Rio de Janeiro, 2000. 15 p. (Texto para discussão; n. 446). |
| Appears in Collections: | Relatórios |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| M. Resende446.pdf | 634.08 kB | Adobe PDF | View/Open |
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