Uma análise exploratória das crises financeiras dos anos 1990

Abstract

The aim of this work is to analyze the financial crises of the 1990s and in selected emerging countries and to verify whether it is possible to interpret them based on post-Keynesian theory, more specifically from Hyman P. Minsky's model of financial fragility. Thus, a descriptive bibliographic research will be carried out, reviewing orthodox and heterodox approaches to financial crises and analyzing each crisis specifically. The empirical analysis will be carried out using economic indicators and financial vulnerability, seeking to identify whether these economies have gone through boom-bust financial cycles, with moments of financial euphoria succeeded by moments of economic recession. The results suggest that the economies of Mexico, East Asia, Russia and Brazil, in the 1990s, may fit the Minsky theory, presenting cycles of growth in current transactions that are accompanied by increased financial vulnerability.