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2. Do Public Development Banks Hurt Growth? Evidence from Brazil
- Author:
- Monica de Bolle
- Publication Date:
- 09-2015
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Public lending by the Brazilian Development Bank (BNDES) may have done more harm than good in Brazil, adversely affecting real interest rates and productivity growth. Specifically, BNDES's large amounts of subsidized lending are responsible for substantial credit market segmentation, choking off monetary policy transmission. As a result, to maintain price stability the Central Bank of Brazil is forced to raise interest rates more than it might do otherwise in the absence of BNDES lending. Restoring Brazil's capacity to grow in the medium term requires a thorough rethinking of the role of BNDES. In particular, the bank's lending rates should be aligned with market prices, term and risk premia, while taking into account that, with an adequate transparency framework, public development banks can increase private sector participation instead of crowding it out.
- Topic:
- Development, Economics, International Trade and Finance, and Markets
- Political Geography:
- Brazil and Latin America
3. Brazil in the South Atlantic: growing protagonism and unintended consequences
- Author:
- Adriana Erthal Abdenur and Danilo Marcondes de Souza Neto
- Publication Date:
- 05-2013
- Content Type:
- Policy Brief
- Institution:
- Norwegian Centre for Conflict Resolution
- Abstract:
- For most of the twentieth century, the strategic importance of the North Atlantic outstripped that of the southern part of the ocean. However, the past decade has brought significant shifts in Atlantic dynamics, with regional and external actors developing new interests in the region. Brazil, in particular, has been working to reinforce its control and influence in the South Atlantic. To this end, over the last five years the Brazilian government has launched or intensified efforts meant to securitise the South Atlantic. This strategy combines unilateral initiatives – naval build-up, domestic military publicity efforts, and international legal moves – with a vastly expanded international defence cooperation programme that covers nearly the entire South Atlantic perimeter. This policy brief analyses key components of Brazil's strategy, situating them within the South Atlantic's changing ecology of actors and suggesting some of the potential tensions that may arise from Brazil's growing protagonism in the South Atlantic.
- Topic:
- Development, Economics, Emerging Markets, Regional Cooperation, and Governance
- Political Geography:
- Latin America
4. Achieving Development Success: Strategies and Lessons from the Developing World
- Author:
- Augustin K. Fosu
- Publication Date:
- 03-2013
- Content Type:
- Policy Brief
- Institution:
- United Nations University
- Abstract:
- What can the less well-off developing countries learn from the “successes” of other developing countries? This Policy Brief highlights successful development strategies and lessons from in-depth case studies of select countries from the developing world. The coverage includes East Asia and the Pacific, the emerging Asian giants, sub-Saharan Africa, Latin America and the Caribbean, and the Middle East and North Africa, along with respective regional syntheses. Although countries' experiences are not necessarily replicable, the recurrent themes across countries and regions provide the appropriate connectedness for a comprehensive global perspective on development strategies and lessons.
- Topic:
- Development, Emerging Markets, and Poverty
- Political Geography:
- Africa, Middle East, Israel, and Latin America