13-vol. 7, no. 1, january-june, 1992
Articles

Underinvoicing of exports, overinvoicing of imports, and the dollar premium on the black market

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  • Fernando de Holanda Barbosa,
  • Rubens Penha Cysne,
  • Marcos Costa Holanda
Fernando de Holanda Barbosa
Fundação Getulio Vargas
Rubens Penha Cysne
Fundação Getulio Vargas
Marcos Costa Holanda
BANCESA
DOI: https://doi.org/10.24201/ee.v7i1.304

Published 1992-01-01

Keywords

  • exports,
  • imports,
  • Brazil,
  • black market

How to Cite

de Holanda Barbosa, F., Penha Cysne, R., & Costa Holanda, M. (1992). Underinvoicing of exports, overinvoicing of imports, and the dollar premium on the black market. Estudios Económicos De El Colegio De México, 7(1), 69–83. https://doi.org/10.24201/ee.v7i1.304

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Abstract

This paper is divided into two parts. The first is a theoretical development of the question of under or over invoicing of exports and imports within the context of a model of choice between risky and secure assets. The second part attempts to ascertain the empirical evidence for the Brazilian economy. It is concluded that the hypothesis that the black market dollar premium plays a role in this process cannot be rejected.

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