A dinâmica do mercado de crédito no Brasil no período recente (2007-2015)

The purpose of this paper is to present the dynamics of the credit market in Brazil between 2007 and 2015, through the analysis of selected data and indicators. The interregnum considered in this paper comprises a period of important changes in the credit market in Brazil. While the expansion of credit until the deepening of the international crisis in 2008 was led by private banks, after the crisis it was the public banks that led this process, increasing considerably their participation in the credit market. However, from mid-2013 the balance of credit operations with free resources, both for individuals and, above all, for companies, started to show a gradual deceleration in the context of an economic downturn that became increasingly strong and the subsequent decrease in the demand for credit. With the deepening of the Brazilian crisis since 2015, the total balance of credit operations in Brazil began to show a real downturn. The evidences suggest that the continued expansion of these operations and, more than that, their development in more appropriate conditions in terms of volume, time and costs, requires not only appropriate microeconomic conditions, but also appropriate macroeconomic conditions, since their absence increases the risk of weakening public institutions, on the one hand, as well as hampers the constitution of a deep, dynamic and competitive credit market in the Brazilian economy, on the other hand.