Public banks and recent anticyclical policies: A comparison of the experiences of Brazil and Chile

Ana Rosa Ribeiro de Mendonça; Brunno Henrique Sibin

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

Ana Rosa Ribeiro de Mendonça

and

Brunno Henrique Sibin

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Article Category:: Monograph Chapter

Publication Date:: 24 Nov 2017

Page Range:: 83–98

Collections:: Social and Political Science 2017

DOI:: https://doi.org/10.4337/9781786430663.00014

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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.

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Public Banks in the Age of Financialization

Editor:

Christoph Scherrer

Monograph Book

Publication Date:: 24 Nov 2017

Print ISBN:: 9781786430656

eISBN:: 9781786430663

DOI:: https://doi.org/10.4337/9781786430663

Page Count:: c 288

Collections:: Social and Political Science 2017

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Front Matter
- Copyright
- Contents
- Figures
- Tables
- Contributors
Introduction
PART I: Justifications for public banks
- Chapter 1: Beyond the market failure argument: Public banks as stability anchors
- Chapter 2: Back to the future of alternative banks and patient capital
PART II: Public banks as stability anchors: Case studies
PART III: Public banks and development
PART IV: Political attacks on public banks in Europe
- Chapter 9: Savings banks and Landesbanken in the German political economy: The long struggle between private and public banks
- Chapter 10: Marginalizing the German savings banks through the European Single Market
PART V: Keeping public banks accountable to the public
Index

Subjects
- Economics and Finance
- Politics and Public Policy

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