The finance-funding circuit and the Brazilian economy

  • Luiz Fernando de Paula Brazilian Keynesian Association
Keywords: long-term financing, credit, Brazilian economy

Abstract

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. 

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References

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.

Published
2015-05-11
How to Cite
Paula, L. F. de. (2015). The finance-funding circuit and the Brazilian economy. Brazilian Keynesian Review, 1(1), 108-112. https://doi.org/10.33834/bkr.v1i1.28
Section
Current Economic Issues