The finance-funding circuit and the Brazilian economy
This paper evaluates the new long-term financing strategy adopted by the 2nd Dilma Rousseff’ government, from both a theoretical perspective and an analysis of some specificity of the financing process in Brazil. The article concludes that while high interest rates - the real ‘blemish’ of the Brazilian economy - and a deformed public debt structure predominate, we cannot expect major changes in the credit market in Brazil.
Hermann, J. e Paula, L.F. (2014). “Economic development and the functionality of the financial system in Brazil: a Keynesian approach”. In: L.C. Bresser-Pereira, J. Kregel e L. Burlamaqui, (org.). Financial Stability and Growth: Perspectives on Financial Regulation and the New Developmentalism. Abingdon: Routledge.
Paula, L.F. (2013). “Financiamento, crescimento econômico e funcionalidade do sistema financeiro: Uma abordagem pós-keynesiana”, Estudos Econômicos 43(2), 363-396.
Paula, L.F. e Alves JR, A.J. (2000). “External financial fragility and the 1998-1999 Brazilian currency crisis”. Journal of Post Keynesian Economics, 24(4), 589-617.
Paula, L. F. e Faria Junior, J.A. (2012). “Mercado de títulos de dívida corporativa no Brasil: aspectos estruturais e evolução recente”. Revista de Economia Contemporânea, 16(1), 103-133.
Resende, M.F.C. (2008). “O circuito finance-investimento-poupança-funding em economias abertas”. Revista de Economia Política, 28(1), 136-154.
- Authors keep copyrights and concede to the Journal the right to the first publication, with the paper simultaneously licenced under the Creative Commons Attribution 4.0 International License which allows recognised author and journal work sharing.
- Authors are authorized to assume additional contracts separately, for non-exclusive versions of the paper published in this journal (e.g.: publish in an instituional repository or as a book chapter) with the recogntion of authorship and initial publication in this journal.
- Authors are allowed (and are estimulated) to publish and distribute their work online (e.g.: in institutional repositories or at their personal websites) at any point before or during the editorial process, once this may generate productive alterations on the paper, as well as increse the factor of impact and quotation of the published paper (please, see Free Access Effect)