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Liberalização e desenvolvimento financeiro: lições da experiência brasileira no período 1990-2006

Jennifer Hermann

Revista Economia e Sociedade, 2010, vol. 40, 34

Abstract: Financial liberalization and development: lessons from Brazilian experience over 1990-2006 period - The paper analyses indicators of Brazilian Financial System over the 1990-2006 period, aiming at a preliminary evaluation of the extension of post-liberalization financial development in Brazil. The analysis shows that this process was significantly weaker than expected from a well succeeded policy. The discussion points that: 1) macroeconomic environment seems more relevant to financial development than financial policy; 2) the environment that favors financial development is not one marked by monetary and fiscal equilibrium, but by economic growth; 3) liberalization has ambiguous effects to economic and financial development, maintaining both in a ?stop and go? pace.

Keywords: Brazilian financial system; Financial policy; Liberalization; Financial development; Economic develo (search for similar items in EconPapers)
JEL-codes: O16 G18 O11 (search for similar items in EconPapers)
Date: 2010
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