Chapter 5 Public banks and recent anticyclical policies: A comparison of the experiences of Brazil and Chile
Restricted access

The authors analyse the parallels between the crisis response of the Brazilian public bank Caixa Econômica Federal (Caixa) and its Chilean counterpart BancoEstado in their different political and economic environments. Both banks acted anticyclically, but encouraged by the strong pro-growth orientation of the Brazilian government and enabled by the institutionalized access to compulsory savings funds, Caixa continued the expansion of lending even after the crisis had been overcome. This procyclical behaviour is a sign that Caixa’s mandate went beyond the function of a stability anchor.

You are not authenticated to view the full text of this chapter or article.

Access options

Get access to the full article by using one of the access options below.

Other access options

Redeem Token

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institutional Access

Personal login

Log in with your Elgar Online account

Login with you Elgar account
Monograph Book