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The Changing Nature of Development Banking in Brazil

Published online by Cambridge University Press:  02 January 2018

Werner Baer  and
Annibal V. Villela
Werner Baer
Affiliation:
Department of Economics, University of Illinois—Urbana
Annibal V. Villela
Affiliation:
Consultaria Economica Ltda., Rio de Janeiro
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Extract

Prior to the mid-1960s, there was little concern in Brazil for the relative size of different ownership sectors—state, domestic private and multinational (Baer et al., 1973; Baer et al., 1977). The main policy objective had been the promotion of import-substitution-industrialization (ISI). Because the Brazilian domestic private sector did not have the technological and financial means to create new industries with a high technology content or to help expand public utilities, multinational firms and state enterprises were relied upon to carry out those tasks. The National Bank for Economic Development (BNDE) was created in order to finance the state's direct participation in Brazil's economy.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 22 , Issue 4: Special Issue: Public Enterprise in Latin America , November 1980 , pp. 423 - 440
Copyright
Copyright © University of Miami 1980

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References

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