Earmarked credit and economic development: a evaluation of the brazilian credit policy

Author(s)

Mailliw Serafim de Siqueira Silva

• Document type: Master's Dissertation
• Press: São Paulo.
• Institution: Universidade de São Paulo (USP). Faculdade de Economia, Administração e Contabilidade (FEA/SBD)
• Defense date: 2018-04-05

Examining board members

Gabriel de Abreu Madeira; Tiago Vanderlei de Vasconcelos Cavalcanti; Mauro Rodrigues Junior; Marcelo Rodrigues dos Santos

• Advisor: Gabriel de Abreu Madeira

Abstract

The present work aims to evaluate the effects of earmarked credit programs in the Brazilian economy. For this purpose, will be developed a general equilibrium model with heterogeneous agents, capable of reproducing the structure of the Brazilian credit market. This model will be calibrated using the data from the RAIS (Annual Information Report) and the SCR (Credit Information System), in order to carry out counterfactual exercises by changing the parameters of the credit policy. As a result, it is found that the end of earmarked credit programs generates a product increase, reduces inequality and the average size of firms, as well as increases productivity, the financial inclusion of firms and the welfare. In addition, the gains generated by the closure of such programs have been shown to be greater than alternative policies, such as targeting the earmarked credit for the most productive individuals or the poorest (AU)

• FAPESP's process: 16/18750-4 - Earmarked credit and economic development: an evaluation of the Brazilian credit policy
• Grantee: Mailliw Serafim de Siqueira Silva
• Support Opportunities: Scholarships in Brazil - Master