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The performance of the Banco do Brasil’s Carteira de Crédito Agrícola e Industrial (CREAI): 1937-1969

Author

Listed:
  • André da Silva Redivo
  • Predo Cezar Dutra Fonseca

Abstract

Banco do Brasil’s Carteira de Crédito Agrícola e Industrial (CREAI) was themost important institution for financing production in Brazil until the creation of the BNDEin 1952. However, the work aimed at evaluating its performance is still scarce, even in theface of his contribution in the period from 1937 to 1969, marked by the Import-SubstitutingIndustrialisation and developmentalism. The main hypothesis points out that, despite havinginnovated by institutionalizing credit for production for the first time, the main limitingfactor for CREAI’s performance was its funding structure. The primary source is the Bancodo Brasil reports presented at the General Shareholders’ Meetings, using here the statistics of financing of economic activities and resource structure. The results confirm the hypothesisbut also highlight that the predominance of the agricultural sector cannot underestimate theimportance of the portfolio to industry financing, for the first time in an official way. JEL Classification: G24, O23, O43.

Suggested Citation

  • André da Silva Redivo & Predo Cezar Dutra Fonseca, 2022. "The performance of the Banco do Brasil’s Carteira de Crédito Agrícola e Industrial (CREAI): 1937-1969," Brazilian Journal of Political Economy, Center of Political Economy, vol. 42(4), pages 1080-1102.
    • Handle: RePEc:ekm:repojs:v:42:y:2022:i:4:p:1080-1102:id:2380
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    More about this item

    Keywords

    Developmentalism; financing for development; Banco do Brasil; Carteira de Crédito Agrícola e Industrial;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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