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O sistema brasileiro de instituições financeiras subnacionais para o desenvolvimento: um panorama [The Brazilian system of sub national financial institutions for development: an overview]

Author

Listed:
  • Victor Leonardo de Araujo

    (UFF)

  • Murilo José de Souza Pires

    (IPEA)

  • Márcio Francisco da Silva

    (UnB)

  • Diego Afonso de Castro

    (MDIC)

Abstract

This study aims to provide an overview of the recent Brazilian experience with public, subnational financial institutions for development (IFD-SN), composed by: a regional development bank, three state development banks and 13 state development agencies. In general, this system is weak, having few diversified funding sources, which rely on the National Economic and Social Development Bank and the state governments. Credit operations offered by IFD-SN are qualitatively distinct from the Brazilian federal banks: they grew at rates below the average for the National Financial System or even of the public banks.

Suggested Citation

  • Victor Leonardo de Araujo & Murilo José de Souza Pires & Márcio Francisco da Silva & Diego Afonso de Castro, 2013. "O sistema brasileiro de instituições financeiras subnacionais para o desenvolvimento: um panorama [The Brazilian system of sub national financial institutions for development: an overview]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 23(3), pages 579-618, September.
    • Handle: RePEc:nov:artigo:v:23:y:2013:i:3:p:579-618
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    More about this item

    Keywords

    state development banks; development agencies; development financing;
    All these keywords.

    JEL classification:

    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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