Measuring complexity in Brazilian economic crises

Capital flows are responsible for a strong influence on the foreign exchange rates and stock prices macroeconomic parameters. In volatile economies, capital flows can change due to several types of social, political and economic events, provoking oscillations on these parameters, which are recognize...

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Bibliographic Details
Published in:PloS one 2017-03, Vol.12 (3), p.e0173280-e0173280
Main Authors: Mortoza, Letícia P D, Piqueira, José R C
Format: Article
Language:English
Subjects:
Analysis
Brazil
Capital
Capital movements
Complexity
Currencies
Dictators
Economic crisis
Economic Recession
Economics
Financial crises
Foreign exchange rates
Macroeconomics
Mathematical analysis
Oscillations
Physical Sciences
Politics
Science
Social Sciences
Stock exchanges
Stock market indexes
Time series
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Summary:Capital flows are responsible for a strong influence on the foreign exchange rates and stock prices macroeconomic parameters. In volatile economies, capital flows can change due to several types of social, political and economic events, provoking oscillations on these parameters, which are recognized as economic crises. This work aims to investigate how these two macroeconomic variables are related with crisis events by using the traditional complex measures due to Lopez-Mancini-Calbet (LMC) and to Shiner-Davison-Landsberg (SDL), that can be applied to any temporal series. Here, Ibovespa (Bovespa Stock Exchange main Index) and the "dollar-real" parity are the background for calculating the LMC and SDL complexity measures. By analyzing the temporal evolution of these measures, it is shown that they might be related to important events that occurred in the Brazilian economy.
ISSN:1932-6203
1932-6203
DOI:10.1371/journal.pone.0173280