Abstract Using a GMM estimator for a spatial panel model with an endogenous spatial lag and spatial moving average errors we investigate the spatial structure of the financial system in Brazil. The results point to a negative spatial association between the Brazilian municipalities' financial...

This paper explores the financial development in Brazil. It focuses on the impacts of the development level of a municipality’s financial system over its neighborhood, under the light of the Central Place Theory. Using a GMM estimator for a spatial panel model with an endogenous spatial lag...

This paper aims to investigate to what extent there is a differentiated regional bank strategy in the Brazilian economy. Based on the Post Keynesian theory of regional liquidity preference (Dow, 1993), the paper analyses consolidate balance sheets of banks’ branches from several Brazilian...