Submitted by Sara Ribeiro (sara.ribeiro@ucb.br) on 2017-08-07T19:03:30Z No. of bitstreams: 1 PricillaMariaSantanaDissertacaoParcial2016.pdf: 930028 bytes, checksum: eba3bbb15120056e8cb882ee1749d7e2 (MD5) / Approved for entry into archive by Sara Ribeiro (sara.ribeiro@ucb.br) on 2017-08-07T19:03:49Z (GMT) No. of bitstreams: 1 PricillaMariaSantanaDissertacaoParcial2016.pdf: 930028 bytes, checksum: eba3bbb15120056e8cb882ee1749d7e2 (MD5) / Made available in DSpace on 2017-08-07T19:03:49Z (GMT). No. of bitstreams: 1 PricillaMariaSantanaDissertacaoParcial2016.pdf: 930028 bytes, checksum: eba3bbb15120056e8cb882ee1749d7e2 (MD5) Previous issue date: 2016-12-02 / The international financial crisis of 2007/2008 unleashed several events that combined lead to one of the worst crises of capitalism. As a reaction, the governments engaged in many efforts to mitigate its effects. The search for countercyclical measures became the center of the economic policy. In Brazil, the adoption of an active fiscal policy based on a package of tax reflief applied to specific sectors was one of the principle measures. In a clear rescue of the extrafiscal dimension of the Tax on Manufactured Products (IPI), it was implemented a systematic reduction of aliquots for durable white goods and furniture. This dissertation aims at evaluating the efficacy of these measures as well as to demonstrate and recognize the relevant strategic role of tax measures in the incentive or disincentive of specific behaviors. Therefore, an econometric model was developed, where from a set of regressions, it sought to verify if the measures of fiscal (tax reflief), credit and monetary policy, directed to the automotive, furnishings, domestic appliance, and construction materials sectors, were effective on boosting the economy, meantime keeping the levels of consumption and sectional production. The results point to an effectiveness of the monetary policy to the automotive and domestic appliance sectors, whereas the credit policy was efficacious in the sectors of civil construction, furnishings and domestic appliance. By its turn, the fiscal policy was effective and was able to leveraging the automobile sales. To the other sectors, the fiscal policy results were not satisfactory. Although the empiric results founded point to a moderate use of the fiscal policy, this study demonstrated in an unequivocal way the role of extrafiscal taxes, notably on IPI. Finally, it is noteworthy to mention that, as all econometric model, this one also has its limitations, in special, those related to the data availability, making necessary the use of proxies. / A Crise Financeira Internacional de 2007/2008 desencadeou um conjunto de eventos que associados ensejaram uma das maiores crises vivenciadas pelo Capitalismo. Em rea????o ?? Crise, os governos empreenderam diversos esfor??os para mitigar seus efeitos. A busca de medidas antic??clicas passou a ser a t??nica na pol??tica econ??mica. No Brasil, uma das principais medidas foi a ado????o de uma pol??tica fiscal ativa baseada em um pacote de medidas de desonera????es tribut??rias aplic??veis a determinados setores. Em um claro resgate da dimens??o extrafiscal do IPI, foi implementada uma redu????o sistem??tica das al??quotas para os setores automotivo, de m??veis e eletrodom??sticos e de materiais de constru????o. O objetivo desta disserta????o foi avaliar se as desonera????es fiscais empreendidas foram eficazes, bem como demonstrar e reconhecer a relev??ncia do papel estrat??gico da extrafiscalidade no incentivo ou desincentivo a determinados comportamentos. Para tanto, foi desenvolvido um modelo econom??trico, onde, a partir de um conjunto de regress??es, buscou-se verificar se as medidas de pol??tica fiscal (desonera????o tribut??rias), credit??cia e monet??ria voltadas para os setores automotivo, de m??veis e eletrodom??sticos e de materiais de constru????o foram eficazes no est??mulo ?? economia, mediante a manuten????o dos n??veis de consumo e produ????o setoriais. Os resultados observados apontam para uma efic??cia da pol??tica monet??ria para os setores automotivo e de m??veis eletrodom??sticos, enquanto a credit??cia foi eficaz para os setores de constru????o civil e de m??veis e eletrodom??sticos. A pol??tica fiscal, por seu turno, foi eficaz e conseguiu alavancar as vendas de autom??veis. Para os demais setores, os resultados da pol??tica fiscal n??o foram satisfat??rios. Assim, embora os resultados emp??ricos encontrados apontem para um uso comedido da pol??tica fiscal, o presente estudo demonstrou de modo inequ??voco o papel extrafiscal dos impostos, notadamente do IPI. Por fim, cumpre registrar que, como todo modelo econom??trico, este tamb??m apresenta limita????es, em especial, aquelas relacionadas ?? disponibilidade de dados, tornando necess??rio o uso de proxies.