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Is the public sector of your country a diffusion borrower? Empirical evidence from Brazil

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  • Leno S Rocha
  • Frederico S A Rocha
  • Thársis T P Souza
Abstract
We propose a diffusion process to describe the global dynamic evolution of credit operations at a national level given observed operations at a subnational level in a sovereign country. Empirical analysis with a unique dataset from Brazilian federate constituents supports the conclusions. Despite the heterogeneity observed in credit operations at a subnational level, the aggregated dynamics at a national level were accurately described by the proposed model. Results may guide management of public finances, particularly debt manager authorities in charge of reaching surplus targets.

Suggested Citation

  • Leno S Rocha & Frederico S A Rocha & Thársis T P Souza, 2017. "Is the public sector of your country a diffusion borrower? Empirical evidence from Brazil," PLOS ONE, Public Library of Science, vol. 12(10), pages 1-11, October.
    • Handle: RePEc:plo:pone00:0185257
    DOI: 10.1371/journal.pone.0185257
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    References listed on IDEAS

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    Cited by:

    1. Ji-Won Park & Chae Un Kim, 2021. "Getting to a feasible income equality," PLOS ONE, Public Library of Science, vol. 16(3), pages 1-16, March.

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