Regarding the importance of fiscal policy in smoothing the impact of shocks such as the international financial and economic crises, the paper analyzes the sustainability of the Brazilian fiscal policy by taking into consideration the possibility of multiple endogenous structural breaks on the...

Purpose – This paper seeks to investigate the relation among corruption, institutional quality and economic growth. Design/methodology/approach – It expands the Erlich and Lui (JPE) endogenous growth model. From this model, institutional aspects such as judicial corruption, bureaucracy,...

The goal of this paper is to evaluate the validity of the Taylor principle for inflation control in 12 developing countries that use inflation targeting regimes: Brazil, Chile, Colombia, Hungary, Israel, Mexico, Peru, Philippines, Poland, South Africa, Thailand and Turkey. The test is based on a...