Bye, bye financial repression, hello financial deepening: The anatomy of a financial boom
João Manoel P. De Mello and
Marcio Garcia ()
The Quarterly Review of Economics and Finance, 2012, vol. 52, issue 2, 135-153
Since the conquest of hyperinflation, with the Real Plan, in 1994, the Brazilian financial system has grown from early infancy to late adolescence. We describe the process of maturing with emphasis on the defining features of the Brazilian financial system over the last 20 years: (1) stabilization and the subsequent financial crisis; (2) universality of banks; (3) market segmentation through public lending; (4) institutional improvement. Further paraphrasing Diaz-Alejandro (1985), we raise some hypotheses on why, this time, the financial boom has not (at least yet) turned into a financial crash.
Keywords: Financial repression; Financial deepening; Stabilization; Stability; Financial crisis; Stability (search for similar items in EconPapers)
JEL-codes: G21 G28 G32 (search for similar items in EconPapers)
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Working Paper: Bye, Bye Financial Repression, Hello Financial Deepening: The Anatomy of a Financial Boom (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:52:y:2012:i:2:p:135-153
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