Banca de DEFESA: MARCOS DE OLIVEIRA MACHADO

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : MARCOS DE OLIVEIRA MACHADO
DATE: 18/02/2025
TIME: 10:00
LOCAL: Prédio da FACE - sala: a definir
TITLE:

Polarization, Uncertainty, and Firms’ Investments: Evidence from the 2022 Brazilian Presidential Elections

KEY WORDS:

Political instability - Social unrest - Capital investment – Event Study

PAGES: 50
BIG AREA: Ciências Sociais Aplicadas
AREA: Economia
SUMMARY:

The study analyzes the impact of the post-election protests of 2022 in Brazil on firms' investment decisions, with a focus on fixed capital investments. The research combines data from credit operations (SCR.Data) and traffic violation records from the Federal Highway Police, employing an event study approach to measure the effects of protest intensity. The results indicate that social unrest shocks, measured by the intensity of roadblocks, negatively affect investment decisions, particularly those of microenterprises, due to their greater vulnerability. In contrast, large firms demonstrate greater resilience to such shocks. The study contributes to the literature by providing empirical evidence on how episodes of social and political instability influence firms' economic dynamics. It concludes that political uncertainty exacerbated by large-scale protests can constrain capital formation in environments marked by institutional uncertainty.

COMMITTEE MEMBERS:
Presidente - 2003700 - MICHAEL CHRISTIAN LEHMANN
Interno - 1226147 - MOISES DE ANDRADE RESENDE FILHO
Externo à Instituição - PHILIPP EHRL - FGV
Interno - 1981130 - RAFAEL TERRA DE MENEZES