Endowments, fiscal federalism, and the cost of capital for states: evidence from Brazil, 1891-1930 by André C. Martínez Fritscher and Aldo Musacchio published by NBER (10/2009). “In the last few years there has been an explosion in the number…
Reinventing state capitalism – Leviathan in Business, Brazil and Beyond by Aldo Musacchio and Sergio G. Lazzarini (4/2014). “The wave of liberalization that swept world markets in the 1980s and 90s altered the ways that governments manage their economies….
“Guest post: Brazil’s DNDFs – a new form of FX intervention?” by Márcio Garcia and Tony Volpon – – “Guest post: time to wean Brazilian companies off the BNDES” by Márcio Garcia – h – “Opinion: the case for Brazil’s BNDES – http://on.ft.com/1rfap7i “Guest post:…
Leviathan as a minority shareholder: a study of equity purchases by the Brazilian National Development Bank (BNDES), 1995-2003, by Sergio G. Lazzarini and Aldo Musacchio, recommended by Pedro Saffi. The autors find that the positive effect of BNDES’ equity…
