IMPACTOS MACROECONÔMICOS NA VARIAÇÃO REGIONAL DA OFERTA DE CRÉDITO

This article is part of a research agenda in the financial aspects of regional development. Although this is not a new agenda, it is possible to say that it is not consolidate yet. The paper aims to analyze how distinct macroeconomic environment could affect the variation of credit among regions. Two very distinct periods of the brazilain economy are analyzed: the year of 1994, which could characterized by the monetary stabilization and by the economic growth based on the internal market performance; and the year of 2004, which is characterized by the economic growth based on the performance of external market. Thought the shif-share analyzes of the regional distribution of the variation of credit, it is showed that the economic growth based on the internal market is more favorable to the redistribution of the regional credit if it is compared with the economic growth based on the external market. This outcome shad lights on the debate over what is the best type of economic growth to tackle the regional imbalances.