Measuring the aggregate effects of the Brazilian Development Bank on investment

Barboza Ricardo de Menezes; Vasconcelos Gabriel F. R.

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Measuring the aggregate effects of the Brazilian Development Bank on investment

机译：衡量巴西开发银行对投资的总影响

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In this paper, we show that the Brazilian Development Bank (BNDES), one of the largest development banks in the world, had a positive and statistically significant impact on Brazilian aggregate investment during the 2002-2016 period. Each $1 BRL of BNDES loans increased the investment on average by $0.46 BRL. Our results lie between what is alleged by BNDES critics (zero impact) and what is claimed by unconditional advocates of state-owned banks (impact near one). In addition, our results are compatible with micro evidence on the effects of BNDES. We obtained these results using the impulse responses from a large Bayesian VAR and we used double selection inference for robustness.

机译：在本文中，我们显示巴西开发银行（BNDES）是世界上最大的开发银行之一，对2002 - 2016年期间的巴西总投资产生了积极和统计的影响。每笔1美元的BNDES贷款将平均增加投资0.46亿美元。我们的结果位于BNDES评论家（零影响）和国有银行无条件倡导者所声称的内容之间（靠近一个）。此外，我们的结果与关于BNDES效果的微证据兼容。我们使用大贝叶斯var的脉冲响应获得了这些结果，并且我们使用双重选择推论鲁棒性。

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来源
《The North American journal of economics and finance》 |2019年第1期|223-236|共14页
作者
Barboza Ricardo de Menezes; Vasconcelos Gabriel F. R.;
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作者单位

Brazilian Dev Bank BNDES Dept Econ Res Brasilia DF Brazil;

Pontifical Catholic Univ Rio de Janeiro PUC Rio Dept Econ Rio De Janeiro Brazil;

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原文格式 PDF
正文语种 eng
中图分类
关键词
Development banks; Investment; Governmental loans Bayesian VAR;

机译：开发银行;投资;政府贷款贝叶斯var;

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1. Measuring the aggregate effects of the Brazilian Development Bank on investment [J] . Barboza Ricardo de Menezes, Vasconcelos Gabriel F. R. The North American journal of economics and finance . 2019,第JANa期

机译：衡量巴西开发银行对投资的总体影响
2. A brief analysis of aggregate measures as an alternative to the median at Central Bank of Brazil's Survey of Professional Forecasts [J] . Fabia A. de Carvalho EconomiA . 2013,第2期

机译：在巴西中央银行的专业预测调查中，简要分析了总体指标以替代中位数
3. Foreign Direct Investment in Brazil: The Effects of Productivity and Aggregate Consumption [J] . Maria Helena Ambrosio Dias, Joilson Dias, Johannes Hirata Journal of Stock & Forex Trading . 2014,第3期

机译：在巴西的外国直接投资：生产率和总消费的影响
4. Assessing the Significance of Factors Effects in Output Oriented DEA Measures of Efficiency: An Application to Brazilian Banks [C] . Geraldo da Silva e SOUZA, Roberta Blass STAUB, Benjamin Miranda TABAK The 12th world multi-conference on systemics, cybernetics and informatics : Proceedings . 2008

机译：在以产出为导向的DEA效率衡量中评估因素影响的重要性：对巴西银行的应用
5. Bank credit and aggregate investment. [D] . Barea-Lugo, Sebastian. 2002

机译：银行信贷和总投资。
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7. This study aims at examining the effects of electronic banking on banks profitability in Jordan. How banking sector finds itself before a new fact imposed by technology revolution and digits to change their work mechanisms from traditional means to electronic means and the challenges banks face as a result. Furthermore, this study investigates the reasons behinds providing electronic banking services through internet, their impact on banking services in general and banks profitability in particular. Risks and challenges involved are discussed Results and recommendations are included. Results revealed that electronic banking service has a negative effect on banks profitability on the short term. The importance of this study and the factors that make it unique is that, it discusses solely the topic of the effects of electronic banking on banks profitability, while most of other studies discuss the topic in general term. The findings of the study are the impact of electronic banking on banks profitability will be feature of the short run due to the capital investment by the banks on infrastructure and training but will be positive on the long run. [O] . Ahmad Z. Siam 2006

机译：这项研究旨在研究电子银行业务对约旦银行盈利能力的影响。在技术革命和数字技术将新的工作机制从传统手段转变为电子手段以及银行面临的挑战之前，银行业如何发现自己。此外，本研究调查了通过互联网提供电子银行服务背后的原因，它们对总体银行服务的影响，尤其是对银行盈利能力的影响。讨论了涉及的风险和挑战包括结果和建议。结果显示，电子银行服务在短期内对银行的盈利能力有负面影响。这项研究及其独特性的重要性在于，它仅讨论电子银行业务对银行盈利能力的影响这一主题，而其他大多数研究则从总体上讨论该主题。该研究的结果是，由于银行对基础设施和培训的资本投资，电子银行对银行盈利能力的影响将是短期的特征，但从长远来看将是积极的。

Measuring the aggregate effects of the Brazilian Development Bank on investment

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