Capital markets in the development process : the case of Brazil
Author(s)
Bibliographic Information
Capital markets in the development process : the case of Brazil
Macmillan Press, 1993
Available at / 12 libraries
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Research Institute for Economics & Business Administration (RIEB) Library , Kobe University図書
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Note
Includes bibliographical references (p. 212-222) and index
Description and Table of Contents
Description
Since 1964, Brazilian policy makers have actively promoted financial market growth through a combination of more traditional interest rate liberalization schemes (indexing) and the creation of institutions which did not exist or restructuring those which did not function in an efficient way. This book traces the evolution of the Brazilian capital markets before and after the 1964-1966 reforms and evaluates their role in economic growth and stability. The main conclusion of the study is that Brazil's experience with financial market development was a qualified success. Although the resulting strong financial market helped Brazil avoid the large capital fight experienced by its neighbours in the Southern Cone, the working relationships which developed over this period have become significant barriers to the achievement of economic growth and stability.
Table of Contents
- Financial growth and economic development
- growth with inflationary finance - 1945
- the reforms of 1964
- the development of equities markets in Brazil
- the indexation of financial assets in Brazil
- commercial banks, investment banks, coglomeration and the financial structure of firms
- toward new financial reform in Brazil.
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