Quando a política afeta a economia? Os efeitos da instabilidade macroeconômica e incertezas políticas sobre o mercado de capitais no pós crise
Abstract
A economia brasileira vem passando por um conjunto de choques de natureza política nos últimos 10 anos. Este artigo avalia se tais choques e se a volatilidade na taxa de câmbio exerceram efeitos sobre o valor das empresas listadas em bolsa no pós crise de 2008. Os resultados, estimados por OLS e GMM, apontam que estes choques políticos e a volatilidade da taxa de câmbio exercem efeitos estatítiscamente significantes, causando relevantes reduções no valor das empresas no Brasil.
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