What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system?
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Data de Publicação: | 2023 |
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Tipo de documento: | preprint |
Idioma: | por |
Título da fonte: | SciELO Preprints |
Texto Completo: | https://preprints.scielo.org/index.php/scielo/preprint/view/6341 |
Resumo: | Based on the keynesian and cepalinian/furtadian theoretical framework, we investigate the institutional relations between the Brazilian colonial past and the development of its financial system until the 1960s. The underlying hypothesis is that there is a connection between a financial system deficient in providing investment funds and the economically peripheral Brazilian condition. This was subordinate to Portuguese European institutions, despite being immersed in the accumulation process of mercantile capitalism. This changed in the transition from the primary-export model to one geared to domestic demand. The industrialization process put pressure on a financial system unable to meet the growing demand for credit, which increased the need instruments and mechanisms for financing the investment. However, as the financial system developed, financial institutions profited not despite the “dysfunctionalities” imposed by the peripheral Brazilian economic condition, but through them. It is concluded that such institutional relations were the legacy of the colonial past left to the contemporary financial system. |
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What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system?Quais as relações institucionais entre o passado colonial da economia brasileira e o desenvolvimento do seu sistema financeiro?Brasileconomia colonialeconomia periféricasistema financeirosistema produtivoBrazilcolonial economyfinancial systemproductive systemperipheral economyBased on the keynesian and cepalinian/furtadian theoretical framework, we investigate the institutional relations between the Brazilian colonial past and the development of its financial system until the 1960s. The underlying hypothesis is that there is a connection between a financial system deficient in providing investment funds and the economically peripheral Brazilian condition. This was subordinate to Portuguese European institutions, despite being immersed in the accumulation process of mercantile capitalism. This changed in the transition from the primary-export model to one geared to domestic demand. The industrialization process put pressure on a financial system unable to meet the growing demand for credit, which increased the need instruments and mechanisms for financing the investment. However, as the financial system developed, financial institutions profited not despite the “dysfunctionalities” imposed by the peripheral Brazilian economic condition, but through them. It is concluded that such institutional relations were the legacy of the colonial past left to the contemporary financial system.Amparados no referencial teórico keynesiano e cepalino/furtadiano, investigamos as relações institucionais entre o passado colonial brasileiro e o desenvolvimento do seu sistema financeiro até os anos de 1960. A hipótese subjacente é a de que existe conexão entre um sistema financeiro deficiente em prover fundos ao investimento e a condição brasileira economicamente periférica. Esta estava subordinada a instituições europeias portuguesas, apesar de imersa no processo de acumulação do capitalismo mercantil. Isso mudou na passagem do modelo primário-exportador ao orientado à demanda doméstica. O processo de industrialização pressionou um sistema financeiro inapto a atender à crescente demanda creditícia, ampliando a necessidade de instrumentos e mecanismos de financiamento do investimento. Todavia, conforme o sistema financeiro desenvolvia-se, as instituições financeiras lucravam, não apesar das “disfuncionalidades” impostas pela condição periférica econômica brasileira, mas por meio delas. Conclui-se que tais relações institucionais foram a herança do passado colonial deixada ao sistema financeiro contemporâneo.SciELO PreprintsSciELO PreprintsSciELO Preprints2023-06-30info:eu-repo/semantics/preprintinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://preprints.scielo.org/index.php/scielo/preprint/view/634110.1590/0103-6351/7076porhttps://preprints.scielo.org/index.php/scielo/article/view/6341/12110Copyright (c) 2023 Daniela Freddo, Juliano Vargashttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessFreddo, DanielaVargas, Julianoreponame:SciELO Preprintsinstname:Scientific Electronic Library Online (SCIELO)instacron:SCI2023-06-29T23:39:04Zoai:ops.preprints.scielo.org:preprint/6341Servidor de preprintshttps://preprints.scielo.org/index.php/scieloONGhttps://preprints.scielo.org/index.php/scielo/oaiscielo.submission@scielo.orgopendoar:2023-06-29T23:39:04SciELO Preprints - Scientific Electronic Library Online (SCIELO)false |
dc.title.none.fl_str_mv |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? Quais as relações institucionais entre o passado colonial da economia brasileira e o desenvolvimento do seu sistema financeiro? |
title |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? |
spellingShingle |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? Freddo, Daniela Brasil economia colonial economia periférica sistema financeiro sistema produtivo Brazil colonial economy financial system productive system peripheral economy |
title_short |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? |
title_full |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? |
title_fullStr |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? |
title_full_unstemmed |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? |
title_sort |
What are the institutional relationships between the colonial past of the Brazilian economy and the development of its financial system? |
author |
Freddo, Daniela |
author_facet |
Freddo, Daniela Vargas, Juliano |
author_role |
author |
author2 |
Vargas, Juliano |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Freddo, Daniela Vargas, Juliano |
dc.subject.por.fl_str_mv |
Brasil economia colonial economia periférica sistema financeiro sistema produtivo Brazil colonial economy financial system productive system peripheral economy |
topic |
Brasil economia colonial economia periférica sistema financeiro sistema produtivo Brazil colonial economy financial system productive system peripheral economy |
description |
Based on the keynesian and cepalinian/furtadian theoretical framework, we investigate the institutional relations between the Brazilian colonial past and the development of its financial system until the 1960s. The underlying hypothesis is that there is a connection between a financial system deficient in providing investment funds and the economically peripheral Brazilian condition. This was subordinate to Portuguese European institutions, despite being immersed in the accumulation process of mercantile capitalism. This changed in the transition from the primary-export model to one geared to domestic demand. The industrialization process put pressure on a financial system unable to meet the growing demand for credit, which increased the need instruments and mechanisms for financing the investment. However, as the financial system developed, financial institutions profited not despite the “dysfunctionalities” imposed by the peripheral Brazilian economic condition, but through them. It is concluded that such institutional relations were the legacy of the colonial past left to the contemporary financial system. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-06-30 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/preprint info:eu-repo/semantics/publishedVersion |
format |
preprint |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://preprints.scielo.org/index.php/scielo/preprint/view/6341 10.1590/0103-6351/7076 |
url |
https://preprints.scielo.org/index.php/scielo/preprint/view/6341 |
identifier_str_mv |
10.1590/0103-6351/7076 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://preprints.scielo.org/index.php/scielo/article/view/6341/12110 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2023 Daniela Freddo, Juliano Vargas https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2023 Daniela Freddo, Juliano Vargas https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
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application/pdf |
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SciELO Preprints SciELO Preprints SciELO Preprints |
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SciELO Preprints SciELO Preprints SciELO Preprints |
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reponame:SciELO Preprints instname:Scientific Electronic Library Online (SCIELO) instacron:SCI |
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Scientific Electronic Library Online (SCIELO) |
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SCI |
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SCI |
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SciELO Preprints |
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SciELO Preprints |
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SciELO Preprints - Scientific Electronic Library Online (SCIELO) |
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scielo.submission@scielo.org |
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