Análise dos fluxos de capitais dirigidos a países periféricos: os casos do México e do Brasil

Abstract

This study aims to analyze capital flows to peripheral countries between 2002 and 2022, with a focus on Brazil and Mexico. The methodology involves a theoretical review of the hierarchy of currencies in the international financial system and the volatility of financial flows, as well as an analysis of the financial account in the balance of payments. Expected outcomes include identifying key economic dynamics affecting capital flows, highlighting how monetary policy in core countries, especially the United States, influences the liquidity and economic stability of these emerging countries. The research also seeks to demonstrate that financial openness, while attracting foreign investment, increases Brazil’s and Mexico’s vulnerability to resource reversals, impacting interest rates and exchange rate dynamics. In this way, this study intends to contribute to understanding the interactions between global financial markets and peripheral economies, emphasizing the challenges and opportunities these countries face amid global uncertainty.