Financial Development, Growth and Equity in Brazil PDF Download
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Author: Armando Castelar Pinheiro
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 68
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Book Description
Author: Armando Castelar Pinheiro
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 68
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Book Description
Author: Orlando Carneiro de Matos
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper aims at verifying the nature of the relationship between financial development and economic growth in Brazil. From the theoretical point-of-view, although the prevailing view through which financial development generate direct impacts on economic growth, there are distinct positions. Some authors argue that, in fact, the two variables are jointly determined, while others simply insert this relation in the theoretical framework of demand for financial assets. In face of this, the causality test proposed by Granger was adopted for the empirical verification. Thus, using data from 1947-2000, 1963-2000 and 1970-2000, the obtained results empirically support the existence of direct and unidirectional impacts of financial development on economic growth, when the following ratios are used as financial development indicators: banking credit to private sector/GDP, financial system credits to private sector/GDP, and public resources in the financial system/M2.
Author: Ignacio Puente
Publisher: Springer Nature
ISBN: 3030889831
Category : Social Science
Languages : en
Pages : 263
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Book Description
Shallow capital markets are a key bottleneck for private sector development in Latin America. Still, there is not a large literature on capital markets and corporate governance, or on the politics of regulatory reform and business associations, focused on this region. To help address this gap, this new book introduces private equity into the financial development debate through a Latin American lens. The author looks at the cases of Brazil, Mexico, Chile, Colombia, and Argentina. And proposes a shift in the financial development discussion from institutional explanations focused only on rules to an actor-based argument centered on the role of institutional investors, in particular pension funds .
Author: John H. Welch
Publisher:
ISBN:
Category : Brasilien
Languages : en
Pages : 258
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Book Description
Since 1964, Brazilian policy makers have actively promoted financial market growth. This book traces the evolution of the Brazilian capital markets before and after the 1964-1966 reforms and evaluates their role in economic growth and stability.
Author: Augusto de la Torre
Publisher: World Bank Publications
ISBN: 0821388479
Category : Business & Economics
Languages : en
Pages : 279
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Book Description
The financial systems of Latin America and the Caribbean (LAC) have been widely resilient to the global financial crisis, which reflects strong progress in both macroeconomic management and prudential oversight. However, the current juncture provides a unique tapestry upon which this book examines several key questions and challenges looking forward. Does LAC continue to underperform on some key financial development indicators and, if so, why? How can LAC's financial systems contribute more effectively to the region's welfare and growth? How can LAC secure the benefits of deepening financial development while avoiding the fault lines that recently burst to the surface in other parts of the world?
Author: Luiz Fernando de Paula
Publisher: Routledge
ISBN: 1136854894
Category : Business & Economics
Languages : en
Pages : 274
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Book Description
Since the beginning of the 1990s, Brazil has followed a pattern of economic development inspired by Washington Consensus. This framework includes a set of liberalising and market friendly policies such as privatisation, trade liberalization, stimulus to foreign direct investment, tax reform, and social security reforms. This book assesses the determinants and impacts of financial liberalisation in Brazil considering its two dimensions: the opening up of the balance of payments capital account, and the penetration by foreign bank of the domestic banking sector. The author combines theoretical and empirical analyses. Some make use of mathematical models and/or statistical techniques; however, they are only used when they are strictly necessary to the analysis.
Author: Vinod Thomas
Publisher: World Bank Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 180
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Book Description
Brazil faces important issues as to whether and how socio-economic and political reforms will be pursued with urgency and persistence. This book presents a strong agenda and action plan to achieve for Brazil both economic growth and improved welfare for its citizens. The book begins by examining the existing welfare system, including the differences between that of people in rural areas and those in cities. It goes on to examine issues related to productivity, looking at whether investments in physical, natural, and human capital affect performance; to sustainability of the country's growth and development; to its use and conservation of natural resources; and to the structure and effectiveness of its institutions. Finally, it compares and contrasts the priorities of these agendas, coming up with both quantitative and qualitative targets that can guide those setting down Brazilian policy
Author: Pietro Calice
Publisher:
ISBN:
Category : Brazil
Languages : en
Pages : 25
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Book Description
This paper attempts to study the impact of Brazilian Development Bank credit on resource misallocation in Brazil, using manufacturing firm-level data from 2003-14. The paper first estimates measures of resource misallocation based on Hsieh and Klenow (2009), documenting high variation in firms' capital and output distortions. It then estimates the effect of financial frictions and access to Brazilian Development Bank loans on distortions and their dispersions. The analysis finds some preliminary evidence that the use of Brazilian Development Bank credit is not associated with a more efficient allocation of resources. The lower cost of Brazilian Development Bank loans reduces the marginal cost of capital, as it induces firms to reallocate inputs from labor to capital, and this effect is amplified for more financially dependent firms. The findings, together with extant evidence on the economic additionality of the Brazilian Development Bank, suggest that there is room for improving the allocative efficiency of the earmarked credit system in Brazil.
Author: Thorsten Beck
Publisher:
ISBN:
Category : Debtor and creditor
Languages : en
Pages : 20
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Book Description
To improve on the low level and low efficiency of Brazil's financial intermediation (and hence economic growth), Brazil needs reforms leading to a more efficient judical sector, better enforcement of contracts, stronger rights for creditors, stronger accounting standards and practices, and a legal and regulatory framework that facilitates the exchange of information about borrowers.
Author: Niccolò Viti
Publisher: GRIN Verlag
ISBN: 3346119033
Category : Business & Economics
Languages : en
Pages : 88
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Book Description
Thesis (M.A.) from the year 2014 in the subject Business economics - Investment and Finance, grade: 105, University of Siena, course: MSc in Finance, language: English, abstract: Project Finance approach is an important financing mechanism because of its intrinsic features and differences with respect to the conventional corporate finance. It has experienced a rapid development and growth in the last decades both in developed and developing countries. The aim of this dissertation is to study and deepen the Project Finance in Emerging Markets framework. After a brief introduction of the main general features of this approach, it will focus on the developing countries context: the historical evolution overview, the risks evaluation, the international institutions involved and the economic impact of project finance in this scenario. Furthermore, financial feasibility study will be conducted in order to evaluate a project over several financial and economic aspects. Finally, all these theoretical issues will be empirically applied to the PMESA case study. It regards a hydroelectric power plant built in Brazil in the early 2000s through the project finance approach. The project evaluation is time located in these years because Brazil was considered an emerging market and it presented some peculiar economic and financial characteristics.
