O presente artigo tem por objetivo explicar o elevado custo do capital no Brasil, apresentando algumas hipóteses a respeito do porque a taxa real de juros de curto-prazo e os spreads bancários são tão elevados. Nesse sentido, ao longo deste artigo pretendemos argumentar que o “problema do...

The paper proposes a Keynesian strategy for economic policy that aims to achieve higher, stable and sustained economic growth in Brazil. Its main hypothesis is that the current poor growth performance of the Brazilian economy is due to macroeconomic and structural constraints rather than to the...

Despite a decline in interest rates since mid-1999, bank spread in Brazil continues extremely high in international terms and in recent years has stood at around 40%. This paper analyses the determinants of bank spread in Brazil, seeking particularly to analyse the macroeconomic determinants of...