Dinâmica recente da conta de transações correntes e a conta de serviços (Current Accounts Dynamics and the Service Account in Brazil)

12 Pages Posted: 1 Jun 2014  

Jorge Arbache

University of Brasilia - Department of Economics

Date Written: May 28, 2014

Abstract

Portuguese Abstract: Após formidável recuperação da crise por que passou entre 1995-2002, as contas correntes entraram em nova rota de déficit a partir de 2007. Historicamente, as contas correntes no Brasil são explicadas pela conta de rendas, enquanto as contas de serviços e de comércio têm participações menores. A conta de rendas explica a recente deterioração das contas correntes? A resposta é não. Na verdade, a conta de rendas melhorou nos anos recentes. Este artigo mostra que o Brasil se tornou um dos maiores importadores de serviços do mundo; mostra, ainda, evidências de que o crescimento econômico se tornou mais intensivo e dependente de serviços importados. Essas evidências ajudam a explicar o aumento dos déficits em contas correntes e sugere que, tudo o mais constante, o crescimento econômico será provavelmente constrangido pela conta de serviços.

English Abstract: After a formidable recovery from crisis in 1995-2002, the current account entered in serious deficits again from 2007 on. Historically, the current account deficits in Brazil are explained mainly by the deficits in the income account, while the trade and service account have a minor role. Does the income account explain the recent deterioration in the current account? The answer is no. In fact, the income account has improved in recent years. This short article shows that Brazil has become in recent years one of the largest importers of services globally; we also provide evidence that Brazil’s growth has become more intensive and dependent on imported services. These findings help explain the rising deficits and suggest that, all other things being equal, economic growth will likely be constrained by the service account.

Note: Downloadable document is in Portuguese.

Keywords: current account, services, deficits, Brazil

JEL Classification: F00, F20, F30

Suggested Citation

Arbache, Jorge, Dinâmica recente da conta de transações correntes e a conta de serviços (Current Accounts Dynamics and the Service Account in Brazil) (May 28, 2014). Available at SSRN: https://ssrn.com/abstract=2443043 or http://dx.doi.org/10.2139/ssrn.2443043

Jorge Arbache (Contact Author)

University of Brasilia - Department of Economics ( email )

Campus Universitário Darcy Ribeiro
Asa Norte
Brasília, Distrito Federal 70910-900
Brazil
+ 55 61 8194 4529 (Phone)

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