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Some principles for the reform of the national financial system

Author

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  • Edmar L. Bacha

Abstract

Six possible reasons for government intervention in financial markets are evaluated:control of the money supply, avoidance of financial crises, credit targeting, contentionof the bank oligopoly, restrictions to foreign capital, and use of exclusive financial agents forpublic sector loans and deposits. This evaluation is based on the Brazilian experience, as wellas that of some other countries. A discussion is also included of the controversial question ofthe Constitutional limits on interest rates. JEL Classification: G38

Suggested Citation

  • Edmar L. Bacha, 1991. "Some principles for the reform of the national financial system," Brazilian Journal of Political Economy, Center of Political Economy, vol. 11(1), pages 127-134.
    • Handle: RePEc:ekm:repojs:v:11:y:1991:i:1:p:127-134:id:1452
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1452/1438
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    Keywords

    Regulation; financial system;

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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