Preferência pela liquidez bancária e desempenho regional: uma análise das especificidades brasileiras

Abstract

This study considers currency as a determinant of regional economic performance. Under the post-Keynesian theoretical framework, the paper seeks to fill a gap in the literature by proposing an alternative empirical approach to evaluate the effect of bank liquidity preference on the economic performance of the Brazilian microregions. To do so, we suggest the introduction of space factor in order to evaluate the effects of variations in bank liquidity preference on the level of economic activity in the micro-region itself and in the neighboring microregions. For the empirical exercise, different methods were used: spatial panel data and Geographically Weighted Regression (GWR). Considering the period from 2003 to 2014, the evidence indicates that the bank uncertainty of a micro-region may influence the level of activity of neighboring microregions, mainly through household consumption.