Os fluxos externos de capitais privados no Brasil: 1991-04

Abstract

This paper examines the evolution of the net flow of private foreign financing in brazilian’s economy, from 1991 — the year of opening to foreign investments flow in Brazil — to 2003. It analyzes the contribution of direct investiments, portfolio investiments, derivatives and the so called other investiments for the total external financiament of national economy. In order of elucidate better the facts, this paper examines the transformations that ocurred in the international financial system and the opening to capital flows in Brazil. The bottom line of this paper is endeavor to contribute, despite the difficulties, improve de conditions to asses the perspective of foreign financing in Brazil.