Federal public banks in Brazil: Historical overview and role in the recent crisis

Simone Deos, Camilla Ruocco and Everton Sotto Tibiriçá Rosa

Chapter 4 in Public Banks in the Age of Financialization, 2017, pp 67-82 from Edward Elgar Publishing

Abstract: The authors empirically explore the claim that public banks can counteract the volatility of financial markets at the hand of public banks in Brazil during the financial crisis of 2008. They provide a historical overview of two important Brazilian public banks, Banco do Brasil and Caixa Econômica Federal. They detail these banks’ anticyclical interventions during the crisis, which did not lower the quality of their respective portfolios. Only the shift to restrictive macroeconomic policies well after the crisis in 2014 has offset the expansion of public credit. The authors draw lessons from this: the anticyclical credit instruments have to be better coordinated with macroeconomic and currency policies.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/9781786430656.00013.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

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:elg:eechap:17305_4

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().