Author: Thorsten Beck Publisher: ISBN: Category : Banks and banking Languages : en Pages : 52
Book Description
The authors analyze the different options-liquidation, federalization, privatization, and restructuring-that the Brazilian state government had for the transformation of state banks under the Programa de Incentivo á Redução do Setor Público Estadual na Atividade Bancária (PROES) in the late 1990s. Specifically, they explore the factors behind the states' choices and the effects of the transformation process on bank performance and efficiency. The authors find that states that were more dependent on federal transfers, whose banks were already under federal intervention and that established development agencies were more likely to relinquish control over their banks and transformation processes. They also find that privatized banks had improved performance, while restructured banks did not
Author: Márcio Issao Nakane Publisher: World Bank Publications ISBN: Category : Banks and banking Languages : en Pages : 34
Book Description
Over the past decade, the Brazilian banking industry has undergone major and deep transformations with several privatizations of state-owned banks, mergers and acquisitions, closing down of troubled banks, entry by foreign banks, and so on. The purpose of this paper is to evaluate the impacts of these changes in banking on total factor productivity. The authors first obtain measures of bank level productivity by employing the techniques due to Levinsohn and Petrin (2003). They then relate such measures to a set of bank characteristics. Their main results indicate that state-owned banks are less productive than their private peers, and that privatization has increased productivity.
Author: M??rcio I. Nakane Publisher: ISBN: Category : Languages : en Pages :
Book Description
Over the past decade, the Brazilian banking industry has undergone major and deep transformations with several privatizations of state-owned banks, mergers and acquisitions, closing down of troubled banks, entry by foreign banks, and so on. The purpose of this paper is to evaluate the impacts of these changes in banking on total factor productivity. The authors first obtain measures of bank level productivity by employing the techniques due to Levinsohn and Petrin (2003). They then relate such measures to a set of bank characteristics. Their main results indicate that state-owned banks are less productive than their private peers, and that privatization has increased productivity.
Author: Kurt e von Mettenheim Publisher: Routledge ISBN: 1317323610 Category : Business & Economics Languages : en Pages : 261
Book Description
This study is the first in a decade to provide an overview of banking in Brazil. It is argued that the big three federal banks have long provided essential policy alternatives and, since the liberalization of the industry in the 1990s, have realized competitive advantages over private and foreign banks.
Author: Kurt e von Mettenheim Publisher: Routledge ISBN: 1317323629 Category : Business & Economics Languages : en Pages : 241
Book Description
This study is the first in a decade to provide an overview of banking in Brazil. It is argued that the big three federal banks have long provided essential policy alternatives and, since the liberalization of the industry in the 1990s, have realized competitive advantages over private and foreign banks.
Author: Anjali Kumar Publisher: World Bank Publications ISBN: 9780821357163 Category : Business & Economics Languages : en Pages : 698
Book Description
There is an increasing awareness that access to financial services can contribute to economic growth and poverty reduction. This study focuses on the delivery of financial services in Brazil, one of the world's most important emerging financial markets. It examines different aspects of financial service provision, and explores approaches to address problems of financial exclusion. Topics discussed include: microfinance schemes; private banking; rural finance systems; institutional infrastructure; and the role of government policy.
Author: Aldo Musacchio Publisher: Harvard University Press ISBN: 0674419596 Category : Business & Economics Languages : en Pages : 358
Book Description
The wave of liberalization that swept world markets in the 1980s and 90s altered the ways that governments manage their economies. Reinventing State Capitalism analyzes the rise of new species of state capitalism in which governments interact with private investors either as majority or minority shareholders in publicly-traded corporations or as financial backers of purely private firms (the so-called “national champions”). Focusing on a detailed quantitative assessment of Brazil’s economic performance from 1976 to 2009, Aldo Musacchio and Sergio Lazzarini examine how these models of state capitalism influence corporate investment and performance. According to one model, the state acts as a majority investor, granting the state-owned enterprise (SOE) financial autonomy and allowing professional management. This form, the authors argue, has reduced many agency problems commonly faced by state ownership. According to another hybrid model, the state uses sovereign wealth funds, holding companies, and development banks to acquire a small share of equity ownership in a corporation, thereby potentially alleviating capital constraints and leveraging latent capabilities. Both models have benefits and costs. Yet neither model has entirely eliminated the temptation of governments to intervene in the operation of natural resource industries and other large strategic enterprises. Nevertheless, the longstanding debate over whether private ownership is superior or inferior to state capitalism has become irrelevant, Musacchio and Lazzarini conclude. Private ownership is now mingled with state capital on a global scale.
Author: Eduardo Lora Publisher: World Bank Publications ISBN: 0821365762 Category : Political Science Languages : en Pages : 474
Book Description
Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews and assesses the outcomes of these less studied institutional reforms. This book examines four major areas of institutional reform: a. political institutions and the state organization; b. fiscal institutions, such as budget, tax and decentralization institutions; c. public institutions in charge of sectoral economic policies (financial, industrial, and infrastructure); and d. social sector institutions (pensions, social protection, and education). In each of these areas, the authors summarize the reform objectives, describe and measure their scope, assess the main outcomes, and identify the obstacles for implementation, especially those of an institutional nature.
Author: E. Pang Publisher: Springer ISBN: 140391852X Category : Political Science Languages : en Pages : 272
Book Description
This book is about how the three most important countries in South America have responded to the challenges of globalization since the mid-1960s, the first OPEC price hike, the Third World debt crisis leading to the 'lost-decade' for the continent, and finally bold, but often ill-planned, neo-liberal reforms of the 1990s. Latin America will experience another cycle of structural changes in the coming decades, as the reforms of the 1980s and 1990s failed to produce the desired effects; social justice, fair income distribution, sustainable growth, and consolidation of democracy.
Author: Nicolás Grinberg Publisher: BRILL ISBN: 9004679065 Category : Political Science Languages : en Pages : 661
Book Description
Challenging mainstream nation-centred theories of economic development, Nicolás Grinberg examines the specificities of capitalist development in Brazil and South Korea by starting from their modes of participation in the international division of labour and hence in the production of surplus value on a global scale. Contrary to those theories, he does not consider these as resulting simply from the economic policies of nation states and their associated political institutions; nor from local class-struggle dynamics or geopolitical developments. Rather, drawing on key insights from Marx’s critique of political economy, his analysis begins by recognising that the process of capitalist development is global in terms of its economic dynamics and historical trends, and national only in its political and institutional forms of realisation. State-mediated patterns of economic development and institutional change in Brazil and Korea, as well as the intra- and inter-state political processes through which these have come about, are then considered mediations in the conformation and reproduction of the nationally differentiated, uneven process of capital’s valorisation on a global scale.
Author: Thorsten Beck
Author: Márcio Issao Nakane
Author: M??rcio I. Nakane
Author: Kurt e von Mettenheim
Author: Kurt e von Mettenheim
Author: Anjali Kumar
Author: Aldo Musacchio
Author: Eduardo Lora
Author: E. Pang
Author: Nicolás Grinberg