Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013
Autor(a) principal: | |
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Data de Publicação: | 2014 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Biblioteca Digital de Teses e Dissertações da PUC_SP |
Texto Completo: | https://tede2.pucsp.br/handle/handle/9241 |
Resumo: | Despite being an important variable for development of economies, by financing expenditure and investment projects, the credit market is few developed in Brazil when compared to the most developed countries. This fact seems to be strongly correlated with high spreads and interest rate on bank loans charged by the Brazilian banking sector. The orthodox theory is the one that most deeply study this topic and point to five main reasons as determinants of different credit costs between countries: competition in the banking sector; macroeconomic environment; taxation, reserves requirement and mandated lending; and availability of information about borrowers. Assessing Brazil in the indicated items, there is notable improvement in almost all factors during de 2000s, however, despite of the cutbacks in interest rates and spreads, we can explain only partially the reduction observed and, in addiction, we note that the credit costs in Brazil are still high comparing to other countries. We understand that SELIC may explain the high level of Brazilian credit costs, because beyond affect directly the costs of funding, it represents a high cost of opportunity of offering credit, since SELIC remunerate part of Brazilian treasury bills, which become profitable, low risk and high liquidity assets |
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Famá, Rubenshttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4209232P0Garzillo, Daniel Barbosa2016-04-26T20:48:41Z2014-12-192014-11-28Garzillo, Daniel Barbosa. Determinants of banking credit costs and Brazilian credit market development from 2000 to 2013. 2014. 144 f. Dissertação (Mestrado em Economia) - Pontifícia Universidade Católica de São Paulo, São Paulo, 2014.https://tede2.pucsp.br/handle/handle/9241Despite being an important variable for development of economies, by financing expenditure and investment projects, the credit market is few developed in Brazil when compared to the most developed countries. This fact seems to be strongly correlated with high spreads and interest rate on bank loans charged by the Brazilian banking sector. The orthodox theory is the one that most deeply study this topic and point to five main reasons as determinants of different credit costs between countries: competition in the banking sector; macroeconomic environment; taxation, reserves requirement and mandated lending; and availability of information about borrowers. Assessing Brazil in the indicated items, there is notable improvement in almost all factors during de 2000s, however, despite of the cutbacks in interest rates and spreads, we can explain only partially the reduction observed and, in addiction, we note that the credit costs in Brazil are still high comparing to other countries. We understand that SELIC may explain the high level of Brazilian credit costs, because beyond affect directly the costs of funding, it represents a high cost of opportunity of offering credit, since SELIC remunerate part of Brazilian treasury bills, which become profitable, low risk and high liquidity assetsApesar de ser um importante fator para o desenvolvimento das economias por propiciar liquidez ao sistema e financiar consumo e projetos de investimento, o mercado de crédito é pouco desenvolvido no Brasil quando comparado com as principais economias do mundo. Este fato parece ter forte correlação com os elevados spreads e taxas de juros praticadas pelo setor bancário brasileiro. A teoria ortodoxa convencional trata do tema e aponta para cinco principais fatores como determinantes das diferenças de custos de crédito entre os países: grau de competição do setor bancário; ambiente macroeconômico; tributação, requerimento de reservas e empréstimos subsidiados; e disponibilidade de informações sobre os mutuários. Ao avaliar o Brasil nos itens indicados, notamos sensível melhora em praticamente todos os fatores durante os anos 2000, entretanto, apesar das reduções das taxas de juros e spreads, consegue-se explicar apenas parte da queda verificada e, além disso, notase que os custos de crédito no Brasil ainda são elevados em relação a outros países. Entendemos que a taxa SELIC possa ser a explicação para os patamares ainda elevados dos custos de financiamento no Brasil, pois, além de influenciar diretamente os custos de captação, ela representa, para o setor bancário, um alto custo de oportunidade de se ofertar crédito por ser base para remuneração de parte dos títulos da dívida do governo brasileiro, tornando-os ativos rentáveis, de baixo risco e alta liquidezapplication/pdfhttp://tede2.pucsp.br/tede/retrieve/17978/Daniel%20Barbosa%20Garzillo.pdf.jpgporPontifícia Universidade Católica de São PauloPrograma de Estudos Pós-Graduados em Economia PolíticaPUC-SPBREconomiaCréditoEmpréstimos bancáriosSpreadsTaxa de juros básicaSELICCreditBank loansSpreadsPrime rateCNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIADeterminantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013Determinants of banking credit costs and Brazilian credit market development from 2000 to 2013info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Biblioteca Digital de Teses e Dissertações da PUC_SPinstname:Pontifícia Universidade Católica de São Paulo (PUC-SP)instacron:PUC_SPTEXTDaniel Barbosa Garzillo.pdf.txtDaniel Barbosa Garzillo.pdf.txtExtracted texttext/plain238127https://repositorio.pucsp.br/xmlui/bitstream/handle/9241/3/Daniel%20Barbosa%20Garzillo.pdf.txte228972c46cf4493e57be60fd0ec877cMD53ORIGINALDaniel Barbosa Garzillo.pdfapplication/pdf7742102https://repositorio.pucsp.br/xmlui/bitstream/handle/9241/1/Daniel%20Barbosa%20Garzillo.pdfccc529c50af11e38fc9bcc6b79167656MD51THUMBNAILDaniel Barbosa Garzillo.pdf.jpgDaniel Barbosa Garzillo.pdf.jpgGenerated Thumbnailimage/jpeg3279https://repositorio.pucsp.br/xmlui/bitstream/handle/9241/2/Daniel%20Barbosa%20Garzillo.pdf.jpga6fb87d8624fa60c16bcabc5266c6565MD52handle/92412022-04-19 15:58:23.114oai:repositorio.pucsp.br:handle/9241Biblioteca Digital de Teses e Dissertaçõeshttps://sapientia.pucsp.br/https://sapientia.pucsp.br/oai/requestbngkatende@pucsp.br||rapassi@pucsp.bropendoar:2022-04-19T18:58:23Biblioteca Digital de Teses e Dissertações da PUC_SP - Pontifícia Universidade Católica de São Paulo (PUC-SP)false |
dc.title.por.fl_str_mv |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 |
dc.title.alternative.eng.fl_str_mv |
Determinants of banking credit costs and Brazilian credit market development from 2000 to 2013 |
title |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 |
spellingShingle |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 Garzillo, Daniel Barbosa Crédito Empréstimos bancários Spreads Taxa de juros básica SELIC Credit Bank loans Spreads Prime rate CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
title_short |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 |
title_full |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 |
title_fullStr |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 |
title_full_unstemmed |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 |
title_sort |
Determinantes dos custos do crédito bancário e desenvolvimento do mercado de crédito no Brasil de 2000 a 2013 |
author |
Garzillo, Daniel Barbosa |
author_facet |
Garzillo, Daniel Barbosa |
author_role |
author |
dc.contributor.advisor1.fl_str_mv |
Famá, Rubens |
dc.contributor.authorLattes.fl_str_mv |
http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4209232P0 |
dc.contributor.author.fl_str_mv |
Garzillo, Daniel Barbosa |
contributor_str_mv |
Famá, Rubens |
dc.subject.por.fl_str_mv |
Crédito Empréstimos bancários Spreads Taxa de juros básica SELIC |
topic |
Crédito Empréstimos bancários Spreads Taxa de juros básica SELIC Credit Bank loans Spreads Prime rate CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
dc.subject.eng.fl_str_mv |
Credit Bank loans Spreads Prime rate |
dc.subject.cnpq.fl_str_mv |
CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
description |
Despite being an important variable for development of economies, by financing expenditure and investment projects, the credit market is few developed in Brazil when compared to the most developed countries. This fact seems to be strongly correlated with high spreads and interest rate on bank loans charged by the Brazilian banking sector. The orthodox theory is the one that most deeply study this topic and point to five main reasons as determinants of different credit costs between countries: competition in the banking sector; macroeconomic environment; taxation, reserves requirement and mandated lending; and availability of information about borrowers. Assessing Brazil in the indicated items, there is notable improvement in almost all factors during de 2000s, however, despite of the cutbacks in interest rates and spreads, we can explain only partially the reduction observed and, in addiction, we note that the credit costs in Brazil are still high comparing to other countries. We understand that SELIC may explain the high level of Brazilian credit costs, because beyond affect directly the costs of funding, it represents a high cost of opportunity of offering credit, since SELIC remunerate part of Brazilian treasury bills, which become profitable, low risk and high liquidity assets |
publishDate |
2014 |
dc.date.available.fl_str_mv |
2014-12-19 |
dc.date.issued.fl_str_mv |
2014-11-28 |
dc.date.accessioned.fl_str_mv |
2016-04-26T20:48:41Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.citation.fl_str_mv |
Garzillo, Daniel Barbosa. Determinants of banking credit costs and Brazilian credit market development from 2000 to 2013. 2014. 144 f. Dissertação (Mestrado em Economia) - Pontifícia Universidade Católica de São Paulo, São Paulo, 2014. |
dc.identifier.uri.fl_str_mv |
https://tede2.pucsp.br/handle/handle/9241 |
identifier_str_mv |
Garzillo, Daniel Barbosa. Determinants of banking credit costs and Brazilian credit market development from 2000 to 2013. 2014. 144 f. Dissertação (Mestrado em Economia) - Pontifícia Universidade Católica de São Paulo, São Paulo, 2014. |
url |
https://tede2.pucsp.br/handle/handle/9241 |
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Pontifícia Universidade Católica de São Paulo |
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