A Review of Forty Years of the Brazilian Domestic Securities Debt (1964-2004)

Authors

  • Orlando Assunção Fernandes
  • Frederico Araújo Turolla

Keywords:

Brazil, public debt, securities debt

Abstract

This article reviews the first forty years of the domestic federal securities debt in Brazil. This market was created in 1964 and reached consolidation through the seventies. In the eighties there were changes in debt composition. The Real Plan brought about a new environment for securities debt management and two major moves can be identified. First, the share of fixed rate bonds increased. Later on, indexation rose together while authorities opted for a widening in the average term. Besides offering a historical review, the article tries to contribute by incorporating the securities indexed to the exchange rate in the analysis, as this part has been subject of little attention in the literature.

How to Cite

Fernandes, O. A., & Turolla, F. A. (2012). A Review of Forty Years of the Brazilian Domestic Securities Debt (1964-2004). Research &Amp; Debate Journal of the Postgraduate Program in Political Economy, 17(2(30). Retrieved from https://revistas.pucsp.br/index.php/rpe/article/view/11822

Issue

Section

Papers