Why does Brazil’s banking sector need public banks? What should BNDES do? by Felipe Rezende published by Levy Economics Institute (01/2015). “The 2007-8 global financial crisis has shown the failure of private finance of efficiently allocate capital to finance real capital development. The resilience and stability of Brazil’s financial system has received attention, since it navigated relatively smoothly through the Great Recession and the collapse of the shadow banking system…”
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