The performance of the Banco do Brasil’s Carteira de Crédito Agrícola e Industrial (CREAI): 1937-1969

André da Silva Redivo () and Pedro Cezar Dutra Fonseca ()

Brazilian Journal of Political Economy, 2022, vol. 42, issue 4, 1080-1102

Abstract: Banco do Brasil’s Carteira de Crédito Agrícola e Industrial (CREAI) was themost important institution for financing production in Brazil until the creation of the BNDEin 1952. However, the work aimed at evaluating its performance is still scarce, even in theface of his contribution in the period from 1937 to 1969, marked by the Import-SubstitutingIndustrialisation and developmentalism. The main hypothesis points out that, despite havinginnovated by institutionalizing credit for production for the first time, the main limitingfactor for CREAI’s performance was its funding structure. The primary source is the Bancodo Brasil reports presented at the General Shareholders’ Meetings, using here the statistics of financing of economic activities and resource structure. The results confirm the hypothesisbut also highlight that the predominance of the agricultural sector cannot underestimate theimportance of the portfolio to industry financing, for the first time in an official way. JEL Classification: G24, O23, O43.

Keywords: Developmentalism; financing for development; Banco do Brasil; Carteira de Crédito Agrícola e Industrial (search for similar items in EconPapers)
Date: 2022
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