Felipe Rezende — Endogenous Financial Fragility in Brazil: Does Brazil’s National Development Bank Reduce External Fragility?

Brazil’s investment needs notwithstanding, requires an active role played by BNDES and other public financial institutions, although with a different set of organizational capabilities to foster public-private partnerships and develop a capital market complementary to BNDES that supports productive investments. Brazil’s National Development Bank, in cooperation with other innovation-related institutions, can play a bigger role to support technological development and innovation policies and support domestic demand strategies.

Multiplier Effect
Endogenous Financial Fragility in Brazil: Does Brazil’s National Development Bank Reduce External Fragility?

Felipe Rezende | Assistant Professor of Economics at Hobart and William Smith Colleges

Felipe Rezende is an assistant professor of economics at Hobart and William Smith Colleges and a research scholar at MINDS – Multidisciplinary Institute on De­velopment and Strategies. Rezende’s areas of teaching and research include macroeconomics, money and banking, monetary economics, and economic development. He previously taught at the University of Missouri–Kansas City. Rezende’s work has focused on monetary theory and policy, macroeconomics, financial instability, and economic development. His current research agenda includes the destabilizing effects of stability on financial structures and the need to redesign the regulatory structure to continually meet its objectives of providing financial stability and finance for develop­ment. Rezende holds an MA and a Ph.D. in economics, with a specialization in monetary theory and financial macroeconomics, from the University of Missouri–Kansas City where he was a student of L. Randall Wray and Jan Kregel.

Crossposted at New Economic Perspectives