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Introduction

In: Capital Markets in the Development Process

Author

Listed:
  • John H. Welch

    (Federal Reserve Bank of Dallas)

Abstract

Brazil has actively pursued and achieved significant financial development since 1964. Tables I.1–I.3 confirm this proposition in a general way, showing that the ratio of financial institution assets to GNP rose from 0.53 in 1956 to 1.11 in 1976. Further, total non-monetary assets as a proportion of GDP increased from 0.2% in 1961 to 25% in 1984. Not only has the quantity of financial assets grown but so has the quality, as should become evident in this study.

Suggested Citation

  • John H. Welch, 1993. "Introduction," Palgrave Macmillan Books, in: Capital Markets in the Development Process, pages 1-15, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11211-1_1
    DOI: 10.1007/978-1-349-11211-1_1
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