Brazil Financial Intermediation Costs and Credit Allocation
Earmarked credit was about half of total credit in Brazil at end-2015, after declining to one third of total credit in 2007, it is back to the levels in late 1990s. During 2008-15, earmarked credit increased from 12 to close to 30 percent of GDP. I...
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| Format: | Working Paper |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/526571490674228358/Brazil-Financial-intermediation-costs-and-credit-allocation-discussion-paper-for-workshop http://hdl.handle.net/10986/26401 |
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okr-10986-264012021-05-25T09:53:17Z Brazil Financial Intermediation Costs and Credit Allocation Pazarbasioglu-Dutz, Ceyla Byskov, Steen Bonomo, Marco Carneiro, Igor Martins, Bruno Perez, Adriana FINANCIAL INCLUSION CREDIT MARKETS FINANCIAL INTERMEDIATION MONETARY POLICY Earmarked credit was about half of total credit in Brazil at end-2015, after declining to one third of total credit in 2007, it is back to the levels in late 1990s. During 2008-15, earmarked credit increased from 12 to close to 30 percent of GDP. Initially, the objective was to counteract the retrenchment in lending by private lenders. However, earmarked credit expansion continued during the subsequent commodity boom period. This paper provides a taxonomy of the complex earmarked credit system and a preliminary analysis of the potential implications. The interventions include a complex web of price and quantity regulations, reserve requirements, tax exemptions and forced savings schemes that are used for earmarked lending to specific sectors. The objective of the taxonomy is to understand who funds the system, who benefits from it and how is it intermediated. 2017-04-19T20:14:32Z 2017-04-19T20:14:32Z 2017-03-02 Working Paper http://documents.worldbank.org/curated/en/526571490674228358/Brazil-Financial-intermediation-costs-and-credit-allocation-discussion-paper-for-workshop http://hdl.handle.net/10986/26401 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Latin America & Caribbean Brazil |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
FINANCIAL INCLUSION CREDIT MARKETS FINANCIAL INTERMEDIATION MONETARY POLICY |
| spellingShingle |
FINANCIAL INCLUSION CREDIT MARKETS FINANCIAL INTERMEDIATION MONETARY POLICY Pazarbasioglu-Dutz, Ceyla Byskov, Steen Bonomo, Marco Carneiro, Igor Martins, Bruno Perez, Adriana Brazil Financial Intermediation Costs and Credit Allocation |
| geographic_facet |
Latin America & Caribbean Brazil |
| description |
Earmarked credit was about half of total
credit in Brazil at end-2015, after declining to one third
of total credit in 2007, it is back to the levels in late
1990s. During 2008-15, earmarked credit increased from 12 to
close to 30 percent of GDP. Initially, the objective was to
counteract the retrenchment in lending by private lenders.
However, earmarked credit expansion continued during the
subsequent commodity boom period. This paper provides a
taxonomy of the complex earmarked credit system and a
preliminary analysis of the potential implications. The
interventions include a complex web of price and quantity
regulations, reserve requirements, tax exemptions and forced
savings schemes that are used for earmarked lending to
specific sectors. The objective of the taxonomy is to
understand who funds the system, who benefits from it and
how is it intermediated. |
| format |
Working Paper |
| author |
Pazarbasioglu-Dutz, Ceyla Byskov, Steen Bonomo, Marco Carneiro, Igor Martins, Bruno Perez, Adriana |
| author_facet |
Pazarbasioglu-Dutz, Ceyla Byskov, Steen Bonomo, Marco Carneiro, Igor Martins, Bruno Perez, Adriana |
| author_sort |
Pazarbasioglu-Dutz, Ceyla |
| title |
Brazil Financial Intermediation Costs and Credit Allocation |
| title_short |
Brazil Financial Intermediation Costs and Credit Allocation |
| title_full |
Brazil Financial Intermediation Costs and Credit Allocation |
| title_fullStr |
Brazil Financial Intermediation Costs and Credit Allocation |
| title_full_unstemmed |
Brazil Financial Intermediation Costs and Credit Allocation |
| title_sort |
brazil financial intermediation costs and credit allocation |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/526571490674228358/Brazil-Financial-intermediation-costs-and-credit-allocation-discussion-paper-for-workshop http://hdl.handle.net/10986/26401 |
| _version_ |
1764461864867069952 |