O papel dos bancos públicos federais no ciclo de crédito de 2003 a 2015: uma análise descritiva

Abstract

After 2003, Brazil witnessed its most recente cycle of increase in the credit porfolio of the National Financial System. First, this phase of expansion of the credit cycle of the economy was led by private equity financial institutions. After 2008, with the international financial crisis, these private agents reduced the volume of credit concessions through a scenario of uncertainty seeking more liquid assets, such as, asset hoarding in debt securities. Against this backdrop of a scarcity of credit volume, actions were initiated to encourage consumption and investment though the Federal Public Banks, wich took the lead in new credito concessions from 2009. This paper aims to identify how this process ocurred and what role the Federal Public Banks had in maintaining the credit cycle after 2009. In addition, the unfolding of the indebtedness of Brazilian families in the mentioned period is analyzed, as well as the efficiency of this model of growth incentive and its implications.