The performance of Private and Public Credit in Brazil from 2004 to 2011

Abstract

ABSTRACT This study addresses the evolution of credit in Brazil between 2004 and 2011. Several analyzes are done to try to differentiate the structure of the periods 2004-2008 and 2009-2011, when there was a break in the credit system due to the international financial crisis. In the first period, it is clear the increase in credit to individuals based on the expansion of the free resources with origin in private institutions. In the following period, directed credit with public origin stimulated the expansion of housing, and supply shortages caused by the contraction of private credit. These two movements correspond to economic activity, which most dynamic sectors are focused primarily on retail, and a second moment of Construction. Key words Credit; Brazil; public banks. Artigo recebido em jul. 2012. Agradecimentos: O autor agradece aos pareceristas anônimos e aos colegas do Núcleo de Estudos de Política Econômica da Fundação de Economia e Estatística Siegfried Emanuel Heuser as contribuições ao presente artigo, isentando-os de quaisquer imprecisões ainda remanescentes.