Sign In
(signout)
Contact us
Search
It looks like your browser does not have JavaScript enabled. Please turn on JavaScript and try again.
About FDC
Return
FDC at a glance
Board and Councils
Faculty
Facilities
Ranking and Accreditations
FDC & The World
Return
International Partnerships and Alliances
FDC International Hub
FDC News
Social Education
Return
FDC - Cardinal Dom Serafim Social Center
Get in Touch and Contribute
Education
Return
FDC International HUB
Executive Education Programs
Degree Programs
Research & Collections
FDC Library System
Life at FDC
Return
Life in Brazil
International Students at FDC
Learning Journeys in Brazil and Abroad
FDC
>
en
>
Research
>
publications
Knowledge
Research and Development Centers
Innovation and Entrepreneurship Center
People and Leadership Development Center
Sustainability Center
Strategy and International Business Center
Logistics, Supply Chain and Infrastructure Center
Publications
The FDC Library System
00A1BE
FFFFFF
Imagem Box 2
Publication
The life-cycle of national development banks: the experience of Brazil's BNDES.
Year
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1980
1979
1978
2019
2020
Português
Inglês
Espanhol
Article
Book
Case Study
DOM Magazine Articles
FDC Executive
Idea Workbook
Proceedings
Research Report
Find only publications available for download
Search
Download pdf
Download Abstract
The life-cycle of national development banks: the experience of Brazil's BNDES.
Year of publication:
2,016
Publication:
Champaign, The Quartely Review Of Economics And Finance, n. 62, p. 97-104, 2016.
Pagination:
Authors:
TORRES, Ernani; ZEIDAN, Rodrigo Mariath.
Type of Publication:
Article
Main Author:
Torres, Ernani
Other Authors:
TORRES, Ernani; ZEIDAN, Rodrigo Mariath.
Summary:
We posit a life-cycle hypothesis for the evolving role of National Development Banks (NDBs) using the case of one of the largest such institutions in the world, the Brazilian Development Bank (BNDES). NDBs are a particularly important institution for channeling long-term credit in less developed financial markets. However, we argue that as countries develop their financial markets, NDBs should share this role with other local banks and specialize their focus, eventually disappearing altogether. In the Brazilian case, we show how the BNDES evolved from a purveyor of long-term credit to a more complex financial institution. The BNDES was the most important tool used by the Brazilian government as a countercyclical response to the financial crisis. For many developing countries, institutions like the BNDES may be a tenable solution for building long-term local financial institutions and markets, and developing specialized human capital. However, they also pose potential risks centered on issues of scalability, crowding out, graft and inefficiency.
Language:
Inglês
Reference Number:
Documento eletrônico