Bancos públicos e desenvolvimento: uma agenda em aberto

Abstract

This paper explores the debate about the role of public banks in the economic development of emerging markets, through a theoretical and historical analysis and literature review. In addition, it evaluates political recommendations to the emerging countries, and whether those recommendations were supported by solid theoretical foundations. It concludes that recent theoretical basis, not always encompasses the key aspects of public banks in a volatile financial system, partially able to allocate credit the most productive uses, specific to the context of underdeveloped nations. In this sense, the usual practice of bank credit offers important lessons for policymakers, and any reform of financial system should be based, in addition to considerations of "efficiency" in the careful analysis of the transfer coefficient and redistribution of resources, provided by these agents. Even though, the social results observed historically corroborated the analytical findings, the agenda remains open for the development of governments and governances in peripheral countries. Closing this agenda is dependent on overcoming an ideology of slogans, and moving towards the establishment of an ideology based on critical thinking and depth of the alternative proposals on economic policy, concerning not only the functionality, but also the weight of each actor in the institutional set of causalities that make the complex linkages between financial development and economic growth, a relationship in progress