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The Brazilian national development bank goes international: innovations and limitations of BNDES' Internationalization

Hochstetler, Kathryn (2014) The Brazilian national development bank goes international: innovations and limitations of BNDES' Internationalization. Global Policy, 5 (3). pp. 360-365. ISSN 1758-5880

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Identification Number: 10.1111/1758-5899.12131

Abstract

The Brazilian National Development Bank (BNDES) saw dramatic increases in its financial resources for lending after 2005. This article explains how the bank has been ‘internationalized’ alongside this growth in total resources, beginning with export finance and expanding to supporting foreign direct investments and other international economic activities. At the same time, legal and structural factors restrict BNDES’ international activities in ways that are often poorly understood, but that keep many of the bank's resources inside Brazil or tightly linked to Brazilian firms. After a general explanation of these factors, this paper examines empirical claims about BNDES’ lending to its South American neighbors, concluding that it is considerably more limited than both the bank's critics and champions contend.

Item Type: Article
Official URL: http://onlinelibrary.wiley.com/journal/10.1111/(IS...
Additional Information: © 2014 University of Durham and John Wiley & Sons, Ltd
Divisions: International Development
Subjects: H Social Sciences > HG Finance
Sets: Departments > International Development
Date Deposited: 10 Oct 2017 13:35
Last Modified: 20 Apr 2019 01:13
URI: http://eprints.lse.ac.uk/id/eprint/84549

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