Estrutura do setor bancário e o ciclo recente de expansão do crédito: o papel dos bancos públicos federais [Structure of the banking sector and the recent cycle of credit expansion: The role of federal public banks]

Luiz Fernando de Paula, José Luís Oreiro and Flavio A. C. Basilio
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Luiz Fernando de Paula: FCE/UERJ
Flavio A. C. Basilio: UnB

Nova Economia, 2013, vol. 23, issue 3, 473-520

Abstract: This paper aims at analyzing the development of the Brazilian banking sector and the recent credit cycle in Brazil, focusing on the role and performance of state-owned- banks, particularly the large federal banks, BNDES, Banco do Brasil and the CEF. This paper stresses mainly the contra-cyclical role of such banks in the credit market in Brazil, as well as their crucial role in the development of long-term financing in the Brazilian economy (investment financing , rural credit and real estate credit). The emphasis of the study is on the post-Real and the recent credit boom, i.e. during the 2003-2009 period.

Keywords: financial intermediation; stateowned banks; brazilian economy (search for similar items in EconPapers)
JEL-codes: E44 G21 H21 (search for similar items in EconPapers)
Date: 2013
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