Insights on monetary policy and public banking in Brazil (2008-2012) [Insights on monetary policy and public banking in Brazil (2008-2012)]

Elena Soihet and Cesar Murilo Nogueira Cabral
Additional contact information
Elena Soihet: UFRRJ
Cesar Murilo Nogueira Cabral: UFRRJ

Nova Economia, 2016, vol. 26, issue 1, 43-67

Abstract: This paper aims to analyze the effect of monetary and banking policy during the subprime crises between 2008 and 2009 and afterwards (2010-2012). The main actions and the monetary policy of the Brazilian Central Bank are also discussed. We found that at the peak of the crisis, the main lever for restoration of the Brazilian economy was related to domestic economic policy measures, particularly the ones implemented by the main state-owned banks: Caixa Econômica Federal, Banco do Brasil and Banco Nacional de Desenvolvimento Econômico e Social. The supporting role of other economic policies and the external economic environment are also discussed here. The findings show that in the period immediately following the crisis, (2010-2012), both credit and monetary policies did not succeed in ensuring sustained economic growth.

Keywords: state owned banks; credit market; monetary policies (search for similar items in EconPapers)
JEL-codes: E44 G21 G29 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.scielo.br/pdf/neco/v26n1/1980-5381-neco-26-01-00043.pdf (application/pdf)
http://www.scielo.br/scielo.php?script=sci_arttext ... g=pt&nrm=iso&tlng=en (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nov:artigo:v:26:y:2016:i:1:p:43-67

Ordering information: This journal article can be ordered from
Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil
https://revistas.fac ... dex.php/novaeconomia

Access Statistics for this article

Nova Economia is currently edited by Gustavo de Britto Rocha

More articles in Nova Economia from Economics Department, Universidade Federal de Minas Gerais (Brazil) Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil. Contact information at EDIRC.
Bibliographic data for series maintained by Lucas Resende de Carvalho ().