This paper presents a methodology to estimate the impact of selected export promoting policies on the real exchange rate in Brazil. Currently, there are a number of policy instruments that generate fiscal and financial benefits to Brazilian exporters. These instruments can be viewed as mechanisms to alter the real exchange rate with which exporters effectively operate. To measure this change, real exchange rates are calculated for two-digit sector CNAE (Economic Activities National Classification) codes from 2004 to 2008. The results show that potential gains are heterogeneous across distinct policy instruments for exports promotion as well as across sectors. The article contributes to the specific literature, by calculating unprecedented indicators and opening a debate on the importance of modern policy tools to foster exports in Brazil.
Exports policies; Real exchange rate; Brazil
