Impediments to the Development and Efficiency of Financial Intermediation in Brazil PDF Download
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Author: Thorsten Beck
Publisher: World Bank Publications
ISBN:
Category : Accounting
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: 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: David M. Trubek
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 88
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Book Description
Author: Thorsten Beck
Publisher: World Bank Publications
ISBN:
Category : Accounting
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: Armando Castelar Pinheiro
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Financial markets help to foster growth and productivity through their role in mobilizing savings to finance investment and production, selecting and monitoring investment projects, diversifying risks, and allowing investment and production to be carried out in the most productive scale and time frame. This paper examines the links between financial development, growth and equity. The focus is on the Brazilian case, but we also aim at contributing to a broader discussion on the role of financial markets in fostering economic development in Latin America. The analysis discusses: a) Brazil's recent growth record, which resembles Latin America's average regarding pace and sources of growth; b) recent changes in financial intermediation in the region, stressing the role of the public sector in absorbing private savings; c) the interface between growth and finance; d) the issue of access to financial services; and e) the impediments to financial deepening and inclusion drawn from the Brazilian experience. Among its conclusions we highlight the relatively small contribution the Brazilian financial system has had towards promoting growth and equity in the following sequence: a) the incomplete macroeconomic adjustment of the economy, which lead to high interest rates, market volatility, and a preference of savers for liquid, short-term financial investments; b) the high tax burden and the associated high degree of informality and fiddling with company accounts, which lower the quality of the information disclosed to financial institutions and capital markets; c) the central role of the state in mobilizing and allocating savings, largely an inheritance of the pre-1990s development model, which dampens the impact of financial intermediation on capital productivity; and d ) the low protection of minority shareholders and especially creditors against expropriation by the state and private parties create a highly uncertain and risky environment that raises the cost of capital, discourages financial intermediation and raises the preference for short-term and liquid financial assets.
Author: Kim B. Staking
Publisher: Idb
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Author: Robert P. Taylor
Publisher: World Bank Publications
ISBN: 0821373056
Category : Science
Languages : en
Pages : 306
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Book Description
While energy efficiency projects could partly meet new energy demand more cheaply than new supplies, weak economic institutions in developing and transitional economies impede developing and financing energy efficiency retrofits. This book analyzes these difficulties, suggests a 3-part model for projectizing and financing energy efficiency retrofits, and presents thirteen case studies to illustrate the issues and principles involved.
Author: Anjali Kumar
Publisher: World Bank Publications
ISBN: 9780821357163
Category : Business & Economics
Languages : en
Pages : 698
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Book Description
There is an increasing awareness that access to financial services can contribute to economic growth and poverty reduction. This study focuses on the delivery of financial services in Brazil, one of the world's most important emerging financial markets. It examines different aspects of financial service provision, and explores approaches to address problems of financial exclusion. Topics discussed include: microfinance schemes; private banking; rural finance systems; institutional infrastructure; and the role of government policy.
Author: Ms.Agnes Belaisch
Publisher: International Monetary Fund
ISBN: 1451853726
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
More developed financial systems are associated with higher investment and better economic performance. This paper discusses possible factors that may inhibit a deepening of bank intermediation and more efficient banking in Brazil, two aspects that are found to be significantly different than in leading banking systems in other parts of the world. Using panel data, it finds positive evidence of the presence of a noncompetitive market structure in the Brazilian banking system, a factor that could explain why intermediation may be relatively low and costly. When banks behave like local monopolies or oligopolies, incentives to improve efficiency are weak and the interest rate spread is large, discouraging higher lending volumes.
Author: Mr.Jean-Louis Arcand
Publisher: International Monetary Fund
ISBN: 1475526105
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision.
Author: Anne G. Hanley
Publisher: Stanford University Press
ISBN: 9780804750721
Category : Social Science
Languages : en
Pages : 326
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Book Description
This book analyzes the contribution of financial market institutions—banks and the stock and bond exchange—to São Paulo's economic modernization at the turn of the twentieth century.
