Bye, bye financial repression, hello financial deepening: The anatomy of a financial boom
AbstractSince the conquest of hyperinflation, with the Real Plan, in 1994, the Brazilian financial system has grown from early infancy to late adolescence. We describe the process of maturing with emphasis on the defining features of the Brazilian financial system over the last 20 years: (1) stabilization and the subsequent financial crisis; (2) universality of banks; (3) market segmentation through public lending; (4) institutional improvement. Further paraphrasing Diaz-Alejandro (1985), we raise some hypotheses on why, this time, the financial boom has not (at least yet) turned into a financial crash.
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Bibliographic InfoArticle provided by Elsevier in its journal The Quarterly Review of Economics and Finance.
Volume (Year): 52 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/inca/620167
Financial repression; Financial deepening; Stabilization; Stability; Financial crisis; Stability;
Other versions of this item:
- João Manoel Pinho de Mello & Márcio Gomes Pinto Garcia, 2011. "Bye, Bye Financial Repression, Hello Financial Deepening: The Anatomy of a Financial Boom," Textos para discussÃ£o 594, Department of Economics PUC-Rio (Brazil).
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
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