Please use this identifier to cite or link to this item: https://repositorio.insper.edu.br/handle/11224/5109
Type: Capítulo de Livro
Title: The reinvention of state capitalism in Brazil, 1970-2012
Author: Lazzarini, Sergio Giovanetti
Musacchio, Aldo
Publication Date: 2016
Abstract: This chapter examines the transformation of a key part of Brazil's developmental state: the way in which the government owns and runs state-owned enterprises and provides subsidized loans to firms using state-owned banks. It explains how the developmental state worked throughout the 20th century, initially having the government as an accidental owner of companies and later as an active entrepreneur building infrastructure. Finally, the paper explains how in the post-1990 era, after the initial wave of privatizations, the government of Brazil still had majority and minority ownership in a variety of enterprises and supported private firms by providing subsidized loans through its development bank, BNDES, and by purchasing equity using its investment arm, BNDESPAR. The paper ends with a discussion of how the latter two developmental tools seem to have been relatively effective in aiding domestic industry in the 1990s, while their impact was more controversial later.
Keywords (english terms): developmental state
state capitalism
state-owned enterprises
BNDES
development banks
industrial policy
Language: Inglês
CNPq Area: Ciências Sociais Aplicadas
URI: https://academic.oup.com/book/25851/chapter-abstract/193519485?redirectedFrom=fulltext
Copyright: O INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITOR
Notes: Evidência
Book title: New Order and Progress: Development and Democracy in Brazil
Appears in Collections:Coleção de Capítulos de Livros

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