IDEAS home Printed from https://ideas.repec.org/a/ipn/panora/vixy2014i18p97-122.html
   My bibliography  Save this article

El BNDES y la industrialización en Brasil. Evidencia histórica y econométrica

Author

Listed:
  • Luna, Victor Isidro.

    (Universidad Nacional Autónoma de México)

Abstract

Este artículo tiene como objetivo mostrar que los bancos de desarrollo tienen un efecto positivo para el crecimiento económico. Se muestra específicamente el caso de Brasil, con su Banco Nacional de Desenvolvimento Econômico e Social (BNDES) fundado en 1952. Para cumplir nuestro objetivo utilizamos tanto herramientas históricas como de estadísticas. Nuestros resultados indican que: a) los desembolsos del BNDES tuvieron una importante contribución a la industrialización desde 1952 hasta 1970, y b) pruebas estadísticas señalan que la formación bruta de capital fijo antecede (o causa) los desembolsos realizados por el BNDES./ This article aims to show that development banks positively affect economic growth and generate employment, with the Brazilian development BNDES, founded in 1952, as an example. Using statistical as well as historical tools, we found that a) BNDES’ disbursements had an important contribution to industrialization from 1952 until the 1970s, and b) BNDES’ disbursements are highly correlated to investments in machinery and equipment.

Suggested Citation

  • Luna, Victor Isidro., 2014. "El BNDES y la industrialización en Brasil. Evidencia histórica y econométrica," Panorama Económico, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(18), pages 97-122, primer se.
    • Handle: RePEc:ipn:panora:v:ix:y:2014:i:18:p:97-122
    as

    Download full text from publisher

    File URL: http://yuss.me/revistas/panorama/pano2014v09n18a05p097_122.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rondo E. Cameron, 1953. "The Credit Mobilier and the Economic Development of Europe," Journal of Political Economy, University of Chicago Press, vol. 61(6), pages 461-461.
    2. de Luna-Martinez, Jose & Vicente, Carlos Leonardo, 2012. "Global survey of development banks," Policy Research Working Paper Series 5969, The World Bank.
    3. Erdogan Bakir & AL Campbell, 2009. "The Bush Business Cycle Profit Rate: Support in a Theoretical Debate and Implications for the Future," Review of Radical Political Economics, Union for Radical Political Economics, vol. 41(3), pages 335-342, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eduardo Fernández-Arias & Ricardo Hausmann & Ugo Panizza, 2020. "Smart Development Banks," Journal of Industry, Competition and Trade, Springer, vol. 20(2), pages 395-420, June.
    2. Marco FRIGERIO & Daniela VANDONE, 2018. "Virtuous or Vicious? Development Banks in Europe," Departmental Working Papers 2018-07, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    3. Régis MARODON, 2020. "Les banques de développement peuvent-elles relever le défi du développement durable ?," Working Paper 8eb18544-95bf-404e-bbfe-e, Agence française de développement.
    4. Torres, Ernani & Zeidan, Rodrigo, 2016. "The life-cycle of national development banks: The experience of Brazil's BNDES," The Quarterly Review of Economics and Finance, Elsevier, vol. 62(C), pages 97-104.
    5. Campiglio, Emanuele, 2016. "Beyond carbon pricing: The role of banking and monetary policy in financing the transition to a low-carbon economy," Ecological Economics, Elsevier, vol. 121(C), pages 220-230.
    6. Garcia, Alexandre Schwinden & Meurer, Roberto, 2022. "Effects of a development bank on the profitability of commercial banks: Evidence for Brazil," The Quarterly Review of Economics and Finance, Elsevier, vol. 85(C), pages 246-259.
    7. Karo , Erkki & Kattel , Rainer, 2015. "Innovation Bureaucracy: Does the organization of government matter when promoting innovation?," Papers in Innovation Studies 2015/38, Lund University, CIRCLE - Centre for Innovation Research.
    8. Régis MARODON, 2020. "Can development banks step up to the challenge of sustainable development?," Working Paper 8eb18544-95bf-404e-bbfe-e, Agence française de développement.
    9. Léon, Florian, 2023. "Public bank lending in Africa in times of crisis," Emerging Markets Review, Elsevier, vol. 55(C).
    10. Mariana Mazzucato & Caetano C.R. Penna, 2016. "Beyond market failures: the market creating and shaping roles of state investment banks," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 19(4), pages 305-326, October.
    11. Dan Costin NIŢESCU & Valentin MURGU, 2022. "Development banks – promoters of economic development?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(633), W), pages 5-20, Winter.
    12. Asian Development Bank Institute, 2017. "Making Money Work: Financing a Sustainable Future in Asia and the Pacific," Working Papers id:11892, eSocialSciences.
    13. Susamto, Akhmad Akbar & Octavio, Danes Quirira & Risfandy, Tastaftiyan & Wardani, Dyah Titis Kusuma, 2023. "Public ownership and local bank lending at the time of the Covid-19 pandemic: Evidence from Indonesia," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
    14. Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB), 2015. "Making Money Work: Financing a Sustainable Future in Asia and the Pacific (Main Report)," ADB Reports RPT157446-2, Asian Development Bank (ADB).
    15. Clò, Stefano & Frigerio, Marco & Vandone, Daniela, 2022. "Financial support to innovation: The role of European development financial institutions," Research Policy, Elsevier, vol. 51(10).
    16. Michel Bellet & Adrien Lutz, 2018. "Piero Sraffa and the project to publish Saint-Simon’s works," Working Papers 1840, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    17. Bryane Michael, 2019. "The Case for an IGAD Development Bank," Journal of Development Policy and Practice, , vol. 4(1), pages 35-65, January.
    18. Victor Manuel Isidro Luna, 2019. "Development banking, state of confidence and sustainable growth," Working Papers PKWP1917, Post Keynesian Economics Society (PKES).
    19. Gereben, Áron & Rop, Anton & Petriček, Matic & Winkler, Adalbert, 2019. "The impact of international financial institutions on small and medium enterprises: The case of EIB lending in Central and Eastern Europe," EIB Working Papers 2019/09, European Investment Bank (EIB).
    20. Degl’Innocenti, Marta & Frigerio, Marco & Zhou, Si, 2022. "Development banks and the syndicate structure: Evidence from a world sample," Journal of Empirical Finance, Elsevier, vol. 66(C), pages 99-120.

    More about this item

    Keywords

    bancos de desarrollo; neoliberalismo; sustitución de importaciones; financiamiento y BNDES./ development banks; Neoliberalism; Import-Substitution Model; Financing; and BNDES.;
    All these keywords.

    JEL classification:

    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ipn:panora:v:ix:y:2014:i:18:p:97-122. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Juan Marroquín-Arreola (email available below). General contact details of provider: https://edirc.repec.org/data/eeipnmx.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.