O sistema brasileiro de instituições financeiras subnacionais para o desenvolvimento: um panorama [The Brazilian system of sub national financial institutions for development: an overview]

Victor Leonardo de Araujo, Murilo José de Souza Pires, Márcio Francisco da Silva and Diego Afonso de Castro
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Victor Leonardo de Araujo: UFF
Murilo José de Souza Pires: IPEA
Márcio Francisco da Silva: UnB
Diego Afonso de Castro: MDIC

Nova Economia, 2013, vol. 23, issue 3, 579-618

Abstract: This study aims to provide an overview of the recent Brazilian experience with public, subnational financial institutions for development (IFD-SN), composed by: a regional development bank, three state development banks and 13 state development agencies. In general, this system is weak, having few diversified funding sources, which rely on the National Economic and Social Development Bank and the state governments. Credit operations offered by IFD-SN are qualitatively distinct from the Brazilian federal banks: they grew at rates below the average for the National Financial System or even of the public banks.

Keywords: state development banks; development agencies; development financing (search for similar items in EconPapers)
JEL-codes: G21 O54 (search for similar items in EconPapers)
Date: 2013
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