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The 2008 Financial Crisis and its effects on credit supply in the Brazilian banking system - The stabilizing role of public banks

Author

Listed:
  • Juliano Adolfo Wide Pissetti

Abstract

In this paper, I show why Brazilian public banks acted as stabilizers of credit supply after the 2008 financial crisis. My analysis utilizes data from the Brazilian banking system and the seven largest Brazilian banks to evaluate the hypotheses posed by Micco and Panizza (2004). This analysis provides evidence that the stability or expansion of the deposit base was not the main factor that explains the less pro-cyclical behaviour of public banks after the crisis. In fact, an explicit stabilization mandate was observed. Public banks were able to maintain faster expansion of loans after the 2008 crisis ultimately due to the additional funding received from the government.

Suggested Citation

  • Juliano Adolfo Wide Pissetti, 2012. "The 2008 Financial Crisis and its effects on credit supply in the Brazilian banking system - The stabilizing role of public banks," Competence Centre on Money, Trade, Finance and Development 1209, Hochschule fuer Technik und Wirtschaft, Berlin.
    • Handle: RePEc:mtf:wpaper:1209
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    File URL: http://finance-and-trade.htw-berlin.de/fileadmin/HTW/Forschung/Money_Finance_Trade_Development/working_paper_series/wp09_Pissetti_The_2008_Financial_Crisis_and_its_effects_on_credit_supply.pdf
    File Function: First version, 2012
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    More about this item

    Keywords

    working paper; daadpartnership; finance-and-trade;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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