Capital Markets in the Development Process: The Case of Brazil"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 1964-66 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 flight experienced by its neighbors in the Southern Cone, the working relationships which developed over this period have become significant barriers to the achievement of economic growth and stability."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved |
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Capital Markets in the Development Process: The Case of Brazil John H. Welch No preview available - 2014 |
Common terms and phrases
adjustment Baer Banco Central Bank of Brazil bills of exchange BNDE BNDESPAR Boletim borrowing Brasileira de Mercado Capital Markets Central Bank Central do Brasil chapter commercial banks conglomeration Conjuntura Economica corporations cost created decrease deficits demand deposit rate domestic Economic Development economic growth effect equities markets Financeira financial assets financial institutions financial markets financial repression firms fiscal government bonds income increase indexed assets indexed bonds industrialisation inflation rate inflation tax interest rate ceilings interest rate liberalisation investment banks investors liabilities loan rates market for equities McKinnon ment Mercado de Capitais monetary authorities monetary base monetary policy mutual funds nominal interest rate open capital companies Paulo percentage period portfolio private sector programmes ratio real interest rates reforms repurchase agreements Revista Brasileira Rio de Janeiro risk São Paulo saving Simonsen Source stabilisation stabilisation policy stock issues stock market Table Total usury law Werner Baer
References to this book
China's Economic Performance in an International Perspectives Ruo'en Ren No preview available - 1997 |