IDEAS home Printed from https://ideas.repec.org/a/taf/jdevst/v49y2013i11p1484-1499.html
   My bibliography  Save this article

The Renewed Developmental State: The National Development Bank and the Brazil Model

Author

Listed:
  • Kathryn Hochstetler
  • Alfred P. Montero

Abstract

This study examines how Brazil operationalised a renewed developmentalist project during the democratic period, and especially during the presidency of Lula da Silva. We use an original data set of 2,115 loans made by the Brazilian National Development Bank (BNDES) between 2002 and 2011 to show elements of both change and continuity with Brazil's developmentalist past. Large loans continued to flow to many of Brazil's historic large firms and industrial sectors - as reported widely - but the data also show significant numbers of smaller loans to firms in all sectors, as well as renewed support for internationalisation and innovation. We conclude that BNDES's lending reflects less a wholly new model of developmentalism than it does a developmentalist strategy that has been renewed and updated for the challenges and opportunities of a more market-oriented economy.

Suggested Citation

  • Kathryn Hochstetler & Alfred P. Montero, 2013. "The Renewed Developmental State: The National Development Bank and the Brazil Model," Journal of Development Studies, Taylor & Francis Journals, vol. 49(11), pages 1484-1499, November.
    • Handle: RePEc:taf:jdevst:v:49:y:2013:i:11:p:1484-1499
    DOI: 10.1080/00220388.2013.807503
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00220388.2013.807503
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00220388.2013.807503?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dani Rodrik, 2007. "Introductiion to One Economics, Many Recipes: Globalization, Institutions, and Economic Growth," Introductory Chapters, in: One Economics, Many Recipes: Globalization, Institutions, and Economic Growth, Princeton University Press.
    2. Franco, Gustavo H.B. & Fritsch, Winston, 1993. "The political economy of trade and industrial policy reform in Brazil in the 1990s," Series Históricas 9402, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Mansueto Almeida, 2009. "Desafios da Real Política Industrial Brasileira do Século XXI," Discussion Papers 1452, Instituto de Pesquisa Econômica Aplicada - IPEA.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Victor Manuel Isidro Luna, 2019. "Development banking, state of confidence and sustainable growth," Working Papers PKWP1917, Post Keynesian Economics Society (PKES).
    2. Kathryn Hochstetler & Genia Kostka, 2015. "Wind and Solar Power in Brazil and China: Interests, State–Business Relations, and Policy Outcomes," Global Environmental Politics, MIT Press, vol. 15(3), pages 74-94, August.
    3. Sean Burges, 2014. "Brazil's International Development Co-operation: Old and New Motivations," Development Policy Review, Overseas Development Institute, vol. 32(3), pages 355-374, May.
    4. Ashley Gunter & Kenneth Manuel, 2016. "A role for housing in development: Using housing as a catalyst for development in South Africa," Local Economy, London South Bank University, vol. 31(1-2), pages 312-321, February.
    5. Malin Hasselskog, 2018. "Rwandan “home grown initiatives†: Illustrating inherent contradictions of the democratic developmental state," Development Policy Review, Overseas Development Institute, vol. 36(3), pages 309-328, May.
    6. 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.
    7. Sierra, Jazmin & Hochstetler, Kathryn, 2017. "Transnational activist networks and rising powers: transparency and environmental concerns in the Brazilian National Development Bank," LSE Research Online Documents on Economics 79089, London School of Economics and Political Science, LSE Library.
    8. Ali Burak Güven, 2016. "Rethinking Development Space in Emerging Countries: Turkey's Conservative Countermovement," Development and Change, International Institute of Social Studies, vol. 47(5), pages 995-1024, September.
    9. Elizabeth Chatterjee, 2022. "New Developmentalism and its Discontents: State Activism in Modi's Gujarat and India," Development and Change, International Institute of Social Studies, vol. 53(1), pages 58-83, January.
    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. Sarah L. Stattman & Aarti Gupta, 2015. "Negotiating Authority in Global Biofuel Governance: Brazil and the EU in the WTO," Global Environmental Politics, MIT Press, vol. 15(1), pages 41-59, February.
    12. Hochstetler, Kathryn, 2021. "Climate institutions in Brazil: three decades of building and dismantling climate capacity," LSE Research Online Documents on Economics 111417, London School of Economics and Political Science, LSE Library.

    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. Mark Harrison & Nikolaus Wolf, 2014. "The Frequency of Wars," World Scientific Book Chapters, in: THE ECONOMICS OF COERCION AND CONFLICT, chapter 5, pages 121-149, World Scientific Publishing Co. Pte. Ltd..
    2. Gani, Azmat & Scrimgeour, Frank, 2014. "Modeling governance and water pollution using the institutional ecological economic framework," Economic Modelling, Elsevier, vol. 42(C), pages 363-372.
    3. Jean-Paul Fitoussi & Francesco Saraceno, 2013. "European economic governance: the Berlin–Washington Consensus," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 37(3), pages 479-496.
    4. Arslan, Aslihan & Taylor, J.Edward, 2009. "Farmers' Subjective Valuation of Subsistence Crops: The Case of Traditional Maize in Mexico," American Journal of Agricultural Economics APPENDICES, Agricultural and Applied Economics Association, vol. 91(4), pages 1-4, April.
    5. Peter Nunnenkamp & Rainer Thiele, 2013. "Financing for Development: The Gap between Words and Deeds since Monterrey," Development Policy Review, Overseas Development Institute, vol. 31(1), pages 75-98, January.
    6. Lyubimov, Ivan, 2016. "Corrupt bureaucrats, bad managers, and the slow race between education and technology," BOFIT Discussion Papers 12/2016, Bank of Finland Institute for Emerging Economies (BOFIT).
    7. Sabrina Auci & Laura Castellucci & Manuela Coromaldi, 2021. "How does public spending affect technical efficiency? Some evidence from 15 European countries," Bulletin of Economic Research, Wiley Blackwell, vol. 73(1), pages 108-130, January.
    8. Andrei A. Levchenko, 2013. "International Trade and Institutional Change," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 29(5), pages 1145-1181, October.
    9. Esparza Masana, Ricard & Fernández, Tatiana, 2019. "Monitoring S3: Key dimensions and implications," Evaluation and Program Planning, Elsevier, vol. 77(C).
    10. Schultz, T. Paul, 2010. "Population and Health Policies," Handbook of Development Economics, in: Dani Rodrik & Mark Rosenzweig (ed.), Handbook of Development Economics, edition 1, volume 5, chapter 0, pages 4785-4881, Elsevier.
    11. Daron Acemoglu & Davide Cantoni & Simon Johnson & James A. Robinson, 2011. "The Consequences of Radical Reform: The French Revolution," American Economic Review, American Economic Association, vol. 101(7), pages 3286-3307, December.
    12. Quibria, M.G., 2020. "Poverty and Policy in the Developing World: Before and After the Pandemic," MPRA Paper 104240, University Library of Munich, Germany, revised 15 Oct 2020.
    13. Morag Goodwin, 2022. "Evaluating the Success of Decentralisation in Facilitating the Inclusion of Rwanda’s Marginalised," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 34(5), pages 2251-2271, October.
    14. Santos, Eleonora & Khan, Shahed, 2019. "FDI Policies and Catching-Up," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 0(7(61)), pages 1821-1853.
    15. Jesus Felipe & Norio Usui & Arnelyn Abdon, 2011. "Rethinking The Growth Diagnostics Approach: Questions From The Practitioners," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 2(02), pages 251-276.
    16. Elert, Niklas & Henrekson, Magnus & Stenkula, Mikael, 2017. "Institutional Reform for Innovation and Entrepreneurship: An Agenda for Europe," Working Paper Series 1150, Research Institute of Industrial Economics, revised 16 Feb 2017.
    17. Niklas Elert & Magnus Henrekson, 2019. "The collaborative innovation bloc: A new mission for Austrian economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 32(4), pages 295-320, December.
    18. Schneider, Sophie Therese, 2018. "North-South trade agreements and the quality of institutions: Panel data evidence," Hohenheim Discussion Papers in Business, Economics and Social Sciences 27-2018, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    19. Sanya Carley & Sara Lawrence, 2014. "Energy-Based Economic Development," Springer Books, Springer, edition 127, number 978-1-4471-6341-1, December.
    20. Adu, Raymond & Litsios, Ioannis & Baimbridge, Mark, 2019. "Real exchange rate and asymmetric shocks in the West African Monetary Zone (WAMZ)," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 232-249.

    More about this item

    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:taf:jdevst:v:49:y:2013:i:11:p:1484-1499. 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/FJDS20 .

    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.