HYMAN MINSKY'S FINANCIAL FRAGILITY HYPOTHESIS STUDY APPLIED TO THE STATE OF MINAS GERAIS IN THE PERIOD 2008-2018

Authors

  • Cláudio Roberto Caríssimo Universidade Federal de Alfenas (Unifal) https://orcid.org/0000-0002-1586-7147
  • Rogério César Corgosinho Centro Universitário Una
  • Antônio Carlos dos Santos Universidade Federal de Lavras (UFLA)

DOI:

https://doi.org/10.21527/2237-6453.2021.54.218-233

Keywords:

Financial fragility, Minsky; Public sector; Minas Gerais

Abstract

The objective of this paper was to highlight the financing positions of the state of Minas Gerais from 2008 to 2018. According to Minsky's Financial Fragility Hypothesis, the way in which future flows of expected revenues are forecasted and realized, as opposed to expenses, reveals as a result financial positions of sufficiency, moderate restriction or complete insufficiency, named by hedge, speculative and ponzi, respectively. Studies on HFF are also adaptable to test the fragility of public finances, that is, the ability of a government to sustain its debts and other expenses. The database was the Budget Balance. Ponzi financing position was determined for the state in 2011-2017, speculative for 2008-2010 and 2018. It is considered relevant to use the Financial Fragility Hypothesis studies when applied to the public sector, and may be an instrument complementary analysis on the financial fragility of government entities, thus reinforcing its theoretical and empirical content.

 

Author Biographies

Cláudio Roberto Caríssimo, Universidade Federal de Alfenas (Unifal)

Mestre em Ciências Contábeis pela Universidade Federal de Minas Gerais (UFMG). Doutorando em Administração pela Universidade Federal de Lavras (UFLA). Professor da Universidade Federal de Alfenas (Unifal). http://lattes.cnpq.br/1829785862285188. https://orcid.org/0000-0002-1586-7147. claudio.carissimo@unifal-mg.edu.br

Rogério César Corgosinho, Centro Universitário Una

Mestrando em Administração pela Universidade Federal de Lavras (UFLA). Professor do Centro Universitário UNA-MG. 

Antônio Carlos dos Santos, Universidade Federal de Lavras (UFLA)

Doutor em Administração pela Universidade de São Paulo (USP). Professor da Universidade Federal de Lavras (Ufla).

Downloads

Published

2021-03-16

How to Cite

Caríssimo, C. R., Corgosinho, R. C., & Santos, A. C. dos. (2021). HYMAN MINSKY’S FINANCIAL FRAGILITY HYPOTHESIS STUDY APPLIED TO THE STATE OF MINAS GERAIS IN THE PERIOD 2008-2018. Desenvolvimento Em Questão, 19(54), 218–233. https://doi.org/10.21527/2237-6453.2021.54.218-233

Issue

Vol. 19 No. 54 (2021): (Jan.-Mar./2021)

Section

Artigos

License

By publishing in Revista Desenvolvimento em Questão, authors agree to the following terms:

All works are published under the Creative Commons Attribution 4.0 International License (CC BY 4.0), which allows:

Sharing — to copy and redistribute the material in any medium or format;

Adaptation — to remix, transform, and build upon the material for any purpose, even commercially.

These permissions are irrevocable, provided that the following terms are respected:

Attribution — authors must be properly credited, a link to the license must be provided, and any changes made must be indicated.

No additional restrictions — no legal or technological measures may be applied that legally restrict others from doing anything the license permits.

Notices:

The license does not apply to elements that are in the public domain or covered by legal exceptions.

The license does not grant all necessary rights for specific uses (e.g., image rights, privacy, or moral rights).

The journal is not responsible for the opinions expressed in the articles, which are the sole responsibility of the authors. The Editor, with the support of the Editorial Board, reserves the right to suggest or request modifications when necessary.

Only original scientific articles presenting research results of interest that have not been previously published or simultaneously submitted to another journal with the same purpose will be accepted.

Mentions of trademarks or specific products are intended solely for identification purposes and do not imply any promotional relationship by the authors or the journal.

License Agreement (for articles published from 2025 onward): Authors retain the copyright to their article and grant Revista Desenvolvimento em Questão the right of first publication.