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Development finance innovations and conditioning factors: The case of the Brazilian Development Bank and sustainable industries

Author

Listed:
  • João Carlos Ferraz
  • Luma Ramos
  • Bruno Plattek

Abstract

This article analyses the policy capacity of the Brazilian Development Bank,BNDES, to develop and implement finance innovations to foster the local wind industry andtheir suppliers in the 2010s and which exogenous and endogenous factors conditioned itsactions and the related outcomes. It demonstrates that technology, market, and policy driversconstituted exogenous windows of opportunities while, from an endogenous perspective,BNDES timely mobilised internal competencies to implement successive finance innovationsresulting in a significant development of such sustainable industry. It is hoped that thisarticle may be a source of inspiration for those engaged in researching and promoting policyinnovations. JEL Classification: O13; O16; O25; Q01; Q48.

Suggested Citation

  • João Carlos Ferraz & Luma Ramos & Bruno Plattek, 2022. "Development finance innovations and conditioning factors: The case of the Brazilian Development Bank and sustainable industries," Brazilian Journal of Political Economy, Center of Political Economy, vol. 42(4), pages 977-997.
    • Handle: RePEc:ekm:repojs:v:42:y:2022:i:4:p:977-997:id:2374
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2374/2312
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    Cited by:

    1. João Carlos Ferraz & Juliana Santiago & Luma Ramos, 2023. "Policy innovation for sustainable development: the case of the Amazon Fund," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 109-136, April.

    More about this item

    Keywords

    Policy capacity; development finance; innovation; sustainable industries;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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