Central Bank Transparency and Financial Market: Evidence for the Brazilian Case
The main objective of this paper is an empirical analysis concerning the effects caused by Central Bank of Brazil transparency on the Brazilian financial market. Furthermore, a brief review of the literature regarding central bank transparency is presented. The effects of the different dimensions of...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Brazilian Society of Finance
2011-03-01
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| Series: | Revista Brasileira de Finanças |
| Subjects: | |
| Online Access: | http://bibliotecadigital.fgv.br/ojs/index.php/rbfin/article/view/1508/2151 |
| _version_ | 1819206478390624256 |
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| author | Helder Ferreira de Mendonça José Simão Filho |
| author_facet | Helder Ferreira de Mendonça José Simão Filho |
| author_sort | Helder Ferreira de Mendonça |
| collection | DOAJ |
| description | The main objective of this paper is an empirical analysis concerning the effects caused by Central Bank of Brazil transparency on the Brazilian financial market. Furthermore, a brief review of the literature regarding central bank transparency is presented. The effects of the different dimensions of the monetary authority’s transparency on yield interest are examined. Moreover, the consequences regarding changes in the country risk are considered in this study. The findings denote that the Central Bank of Brazil transparency works as a guide for the future interest rate market and that the different dimensions of transparency contribute to a better market efficiency. |
| first_indexed | 2024-12-23T05:08:14Z |
| format | Article |
| id | doaj.art-27dc1719b10c44d296f7277270a32116 |
| institution | Directory Open Access Journal |
| issn | 1679-0731 1984-5146 |
| language | English |
| last_indexed | 2024-12-23T05:08:14Z |
| publishDate | 2011-03-01 |
| publisher | Brazilian Society of Finance |
| record_format | Article |
| series | Revista Brasileira de Finanças |
| spelling | doaj.art-27dc1719b10c44d296f7277270a321162022-12-21T17:59:01ZengBrazilian Society of FinanceRevista Brasileira de Finanças1679-07311984-51462011-03-01915167Central Bank Transparency and Financial Market: Evidence for the Brazilian CaseHelder Ferreira de MendonçaJosé Simão FilhoThe main objective of this paper is an empirical analysis concerning the effects caused by Central Bank of Brazil transparency on the Brazilian financial market. Furthermore, a brief review of the literature regarding central bank transparency is presented. The effects of the different dimensions of the monetary authority’s transparency on yield interest are examined. Moreover, the consequences regarding changes in the country risk are considered in this study. The findings denote that the Central Bank of Brazil transparency works as a guide for the future interest rate market and that the different dimensions of transparency contribute to a better market efficiency.http://bibliotecadigital.fgv.br/ojs/index.php/rbfin/article/view/1508/2151transparencyaccountabilityinflation targetingyield interest |
| spellingShingle | Helder Ferreira de Mendonça José Simão Filho Central Bank Transparency and Financial Market: Evidence for the Brazilian Case Revista Brasileira de Finanças transparency accountability inflation targeting yield interest |
| title | Central Bank Transparency and Financial Market: Evidence for the Brazilian Case |
| title_full | Central Bank Transparency and Financial Market: Evidence for the Brazilian Case |
| title_fullStr | Central Bank Transparency and Financial Market: Evidence for the Brazilian Case |
| title_full_unstemmed | Central Bank Transparency and Financial Market: Evidence for the Brazilian Case |
| title_short | Central Bank Transparency and Financial Market: Evidence for the Brazilian Case |
| title_sort | central bank transparency and financial market evidence for the brazilian case |
| topic | transparency accountability inflation targeting yield interest |
| url | http://bibliotecadigital.fgv.br/ojs/index.php/rbfin/article/view/1508/2151 |
| work_keys_str_mv | AT helderferreirademendonca centralbanktransparencyandfinancialmarketevidenceforthebraziliancase AT josesimaofilho centralbanktransparencyandfinancialmarketevidenceforthebraziliancase |