Preference for Liquidity of Agents: An Analyse of Brasilian Case

LAGES, ANDRÉ MAIA GOMES and SANTOS, FABRÍCIO RIOS NASCIMENTO and FERREIRA, HUMBERTO BARBOSA (2016): Preference for Liquidity of Agents: An Analyse of Brasilian Case. Published in: Regional Statistics , Vol. 5, No. 1 (July 2016): pp. 86-96.

Abstract

This work is meant to show the relevance of the role of money in explaining regional disparities. Points out that before the currency and the banks are incorporated theories of regional development, had two views on regional development, founded on a convergence of unequal growth and divergence in another, where the rates would become increasingly unequal. The literature on the regional economy have given little attention to financial variables and their role in regional development. In this context, the currency has received secondary treatment in the analysis of the regional economy, perhaps in the belief of some theorists in the neutrality of money in the long run, or others who have relied on the assumption of perfect interregional mobility of capital. However, this perspective has been changing in recent years, particularly in post-Keynesian agenda. Thus, we intend to examine the behavior of the public regarding the preference for liquidity in the face of regional characteristics and the financial instability and therefore demonstrate their relevance to explain the differences in regional economic development. To analyze the decision to demand money was used educational and behavioral aspects. The hypothesis that there is a financial concentration in regions with a lower liquidity preference was ratified. For this, the study was developed based on the analysis of units of the Brazilian federation. The database of the Central Bank, and Datasus allowed the use of the formula suggested by the literature pertinent to the theme

• Item Type: MPRA Paper
• Language: English
• Keywords: uncertainty, regional development, banks, Brazilian economy, interest rates
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E43 - Interest Rates: Determination, Term Structure, and Effects; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P25 - Urban, Rural, and Regional Economics; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity

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