This study aims to quantify the potential financing estilmates from institutional investors - pension funds, insurance companies, investment funds and sovereign wealth funds - from global (OECD) and domestic markets to infrastructure in Brazil. Institutional investors are not homogeneous, and...

The objective of this study is to analyze the response of improvements in the regulatory rankings of emerging economies to private investments in infrastructure especially for Brazil. The proposed methodology relies on a fixed-effect panel model. We further investigated whether, after the 2008...

The study analyses the role of institutional characteristics of a country (governance) and the domestic financial system (depth, efficiency, stability, and capital openness) in determinants of emerging market corporate bond spreads issued in international market. We propose an econometric panel...

The objective of this is study is to assert the role of domestic financial system as mitigating of sudden stops episodes and driver of capital flows in a group of 14 emerging economies in the period of 1999-2013, especially in face of unfavorable external environment such as high international...

This paper examines how regulatory interventions can affect the market risk of electricity utilities and telecom carriers traded in the Brazilian stock market. Our article uses a bivariate Generalized AutoRegressive Conditional Heteroskedasticity (GARCH - BEKK) model to analyze the impact of two...

We analyze the effect of two 2012's regulatory measures in the Brazilian telecommunications and electricity markets. The first intervention was undertaken by the telecommunications regulatory agency (Anatel) in 18th of July and refers to the interruption of the sales of important...

This study investigates the determinants of the great difference between winning bids and reserve prices in the transmission electricity sector in Brazil between 1999- 2010, through an econometric approach based on Heckman (1979) that considers the heterogeneous among the winner's and loser's...

The objective of this paper is to analyze the role of fiscal policy in the determinants of the sovereign spreads of a group of 23 emerging market countries in the period 1995-2008 focusing on two matters: i) fiscal policy sustainability, known as the accumulation of primary budget surplus, that...

The study presents a macro-finance model to analyze the impacts of a fiscal policy shock in the Brazilian term structure of interest rate in the period 1999-2010. Fiscal policy explains a higher proportion of the long-term interest rate variance (25% of the five years rate) comparing to the...