Brazil's Financial System: Resilience to Shocks, no Currency Substitution, but Struggling to Promote Growth
Brazil has evolved a financial system with a smaller presence of public banks and larger participation of foreign banks, less directed credit, and well capitalized banks. Over the years it has been resilient to shocks and was able to preserve the real value of savings in the system, thus avoiding both dollarization and desintermediation. However, reducing the cost and increasing the volume of credit in the economy remains a challenge. Notwithstanding these hurdles, recent advances in the regulation of the financial system should pave the way for better intermediation and higher growth.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gerard Caprio, Jr. and Patrick Honohan, 2008.
The Institute for International Integration Studies Discussion Paper Series
- Marco Terrones & Luis CatÃ£o, 2000. "Determinants of Dollarization; The Banking Side," IMF Working Papers 00/146, International Monetary Fund.
- John H. Boyd & Pedro Gomis-Porqueras & Sungkyu Kwak & Bruce David Smith, 2014.
"A User's Guide to Banking Crises,"
Annals of Economics and Finance,
Society for AEF, vol. 15(2), pages 800-892, November.
- Glenn Hoggarth & Ricardo Reis & Victoria Saporta, 2001.
"Costs of banking system instability: some empirical evidence,"
Bank of England working papers
144, Bank of England.
- Hoggarth, Glenn & Reis, Ricardo & Saporta, Victoria, 2002. "Costs of banking system instability: Some empirical evidence," Journal of Banking & Finance, Elsevier, vol. 26(5), pages 825-855, May.
- Honohan, Patrick & Klingebiel, Daniela, 2000. "Controlling the fiscal costs of banking crises," Policy Research Working Paper Series 2441, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:bcb:wpaper:75. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Francisco Marcos Rodrigues Figueiredo)
If references are entirely missing, you can add them using this form.