Política monetária e crédito de custeio rural: uma análise entre 2013 e 2023

Abstract

O credit allocated to the rural sector plays a significant role in fostering the agricultural sector, being essential to boost production, productivity, and sustainability of rural activities. In this context, the present study aims to quantify the relationship between monetary policy and credit provided for rural financing, with the goal of understanding the magnitude of the relationship between variables that represent and are directly impacted by monetary policy and the amount allocated for such credit modality. To achieve this, a model was structured with variables representative of the theme, and an estimation was carried out through Vector Error Correction Models (VECM). As a result, it can be observed that economic growth seems to be more important for the provision of rural financing for operating expenses than the movements of the country's main monetary policy instrument.