The BNDES’ disbursements, investment, and growth rate in Brazil from 1953 to 2013

• Autores: Victor Manuel Isidro Luna
• Localización: COMPENDIUM: Cuadernos de Economía y Administración, ISSN-e 1390-9894, ISSN 1390-8391, Vol. 5, Nº. 11, 2018 (Ejemplar dedicado a: Revista Compendium: Cuadernos de Economía y Administración), págs. 58-76
• Idioma: inglés
• Títulos paralelos:
  • Desembolsos del BNDES, inver sión y tasa de crecimiento en brasil desde 1953 hasta 2013
• Enlaces
  • Texto completo (pdf)
• Resumen
  • español

    En este artículo, analizamos el comportamiento de los desembolsos e inversiones del BNDES en maquinaria y equipo y la tasa de crecimiento de la economía brasileña desde 1953 hasta 2013. En este artículo, intentamos contribuir a la discusión del efecto de los bancos de desarrollo en el crecimiento económico durante la sustitución de importaciones y los períodos neoliberales. Para cumplir nuestro objetivo, realizamos un análisis histórico y econométrico, teniendo como principales resultados: (1) que las inversiones en maquinaria y equipo generaron los desembolsos del BNDES (utilizando un Modelo de Corrección de Errores (ECM)), (2) que el BNDES afectó positivamente la inversión y el alto crecimiento durante las expansión es económicas a largo plazo y, contribuyó positivamente a la inversión pero no al alto crecimiento durante las recesiones económicas a largo plazo.

  • English

    In this article, we analyze the behavior of the BNDES’ disbursements, investments in machinery and equipment, and the growth rate, from 1953 to 2013. We find that investments in machinery and equipment lead the BNDES’ disbursements through an Error Correction Model (ECM). Also, we show that the BNDES positively affected investment and growth during long-term economic expansions (procyclical performance) and contributed positively to investment but not to growth during long-term economic recessions.

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