Liberalização e desenvolvimento financeiro: lições da experiência brasileira no período 1990-2006
Financial liberalization and development: lessons from Brazilian experience over 1990-2006 period - The paper analyses indicators of Brazilian Financial System over the 1990-2006 period, aiming at a preliminary evaluation of the extension of post-liberalization financial development in Brazil. The analysis shows that this process was significantly weaker than expected from a well succeeded policy. The discussion points that: 1) macroeconomic environment seems more relevant to financial development than financial policy; 2) the environment that favors financial development is not one marked by monetary and fiscal equilibrium, but by economic growth; 3) liberalization has ambiguous effects to economic and financial development, maintaining both in a ?stop and go? pace.
Volume (Year): 40 (2010)
Issue (Month): (August)
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