Estrutura de funding dos bancos de desenvolvimento brasileiros

Abstract

This dissertation investigates the funding structure of Brazilian development banks. Development banks are generally government-controlled financial institutions that operate in specific segments and sectors that are capable of producing relevant socio-economic results or have a broad mandate to provide financing for the economic development of specific regions. Therefore, it is essential that development banks raise a large volume of resources and their funding source can affect their performance. The dissertation will address the funding structure of the three regional development banks in Brazil, being them: BRDE, BANDES and BDMG. The purpose of the work is to explore the role of development banks and understand the relationship of these institutions with economic development. The first part of the work, of a theoretical nature, deals with the nexus between the financial system and economic development, approaches different views on the performance of development banks and presents the roles inherent to these institutions and their funding structure. Then, using the analysis of descriptive statistics, the funding structure of Brazilian development banks during the period from 2006 to 2020 is examined. In this way, the main rubrics of these banks will be specified in order to ascertain their sources of funds, the term of funding operations and the sectorial disposition of its credit operations. In view of this, It is noticed that the funding structure of the analyzed banks are different, however, a large part of their resources come from official onlendings from the country and that the source of funds is relevant to their performance.