Brazil’s National Bank for Social and Economic Development BNDES: A Critical Analysis (original) (raw)

National Development Banks in the BRICS: Lessons for the Post-2015 Development Finance Framework

In 2015, the framework to succeed the Millennium Development Goals (MDGs) will be agreed. As described in the outcome document of the United Nations (UN) Rio+20 conference, The Future We Want, the mobilisation and effective use of stable, sufficient and suitable development finance must be a crucial part of this framework. While there is now broad agreement that National Development Banks (NDBs) have the potential to contribute positively to development objectives, it is less clear how this can best be done in practice. As a contribution to this debate, this Policy Briefing summarises research on the experience of NDBs in the BRICS countries.

The Changing Role of International Banking in Development Finance

THE RELATION BETWEEN THE INTER-national banking industry and the develop-ing world is changing, with implications for the growth and financial health of both sides. Sig-nificant transformation in the structure of the in-dustry, coupled with rapid economic growth and financial liberalization in the developing world, has created a new locus of mutual interest and new dynamics of engagement extending well beyond the traditional realm of provision of trade credit and financing sovereigns in distress. With over 2,027 local offices established in 127 developing countries, the international banking industry now has the operating infrastructure and technology platforms to book overseas transactions from a large network of local agencies, subsidiaries, and branches located in developing countries. Aided by growing cross-border lending activity, interna-tional banks play an increasingly important—in some countries, even dominant—role in the financ-ing structure and growth prospects of develop...

Reforming the International Financial System? Accessing the Depths of New Development Bank’s (NDB) Operations

Boletim do Tempo Presente, 2019

O Sistema Financeiro Internacional é composto por organismos intergovernamentais, regionais, multilaterais, além de organismos privados e da sociedade civil organizada. Tal interdependência é capaz de influenciar fluxo, determinar coalizões e decidir sobre regulamentação, transparência e conformidade. Há muito tempo países desenvolvidos ditam as regras principais do jogo e submetem países emergentes às regras conforme seus interesses. Na gama de atores hegemônicos exsurge o conglomerado formado por Brazil, Russia, India, China and South Africa (BRICS) que recentemente institucionalizaram o New Development Bank, órgão financeiro responsável por complementar o sistema com investimentos em infraestrutura para o desenvolvimento sustentável em países do Sul global. Seria o início de um desmonte reformista? O presente estudo perquirirá os documentos e reportes financeiros do Banco a fim de qualitativamente demonstrar se o caráter reformista do NDB é pertinente ou apenas mais uma instituição a seguir regras em uma arquitetura já inflada. Palavras-chave: Sistema Financeiro Internacional, BRICS, New Development Bank, Governança Global. Abstract The International Financial System is composed by intergovernmental, regional, multilateral, as well as private and non-profit organizations. Such interdependence is able to influence capital flow, determine coalitions, and decide on regulation, transparency and compliance. Developed countries have long dictated the main rules of the game and subjugate emerging countries to the rules according to their interests. In the range of hegemonic actors, the conglomerate formed by Brazil, Russia, India, China and South Africa (BRICS) recently institutionalized the New Development Bank, a financial agency responsible for complementing the system with infrastructure for sustainable development investments in Southern countries. Was it the beginning of a reformist blast? The present study will look at the Bank's financial documents and reports in order to qualitatively demonstrate whether the reformed character of the NDB is relevant or just another institution following rules in an already inflated architecture.

A Development Path from Global South: National Development Banks of China and Brazil

National Development Banks (NDB) are one of the important institutions. Especially, Keynesian sights have increasingly emphasized this institution since WWII in the belief that NDB can solve capital insolvency and accelerate growth via the provision of long-term financing. With the attempt to neoliberal globalization, developing countries described as Global South have desperately need of industrialization but persisting problems such as financial deficiency and lack of entrepreneurship in these countries impair the industrialization. As a result, regarding the promotion of national industrialization, NDB can be defined as the engine of the economy in the Global South. On the other hand, despite the common characteristic of backwardness and desire of industrialization, each developing country constantly encounter different structural problems so national development banks must produce solutions in this direction and authorities should design their institution in terms of their own characteristics. This study aims to define generally NDB's historical economic role with respect to development sight. Within this scope, two important Global South countries' national development (China and Brazil) banks will be analyzed.