A importância dos bancos públicos como instrumento de desenvolvimento econômico e social: o caso caixa

Abstract

This paper aims to present Caixa Econômica Federal and its potential as an instrument of public policies for economic and social development and in coping with economic cycles. We begin our approach by discussing historical facts that have shaped the institution as it is today. Next, we present the national financial market, in its structure, main agents and composition in general terms. In the next stage, we discuss the characteristics of the market, its constitution since the 1990s, from the perspective of bank concentration. We also deal with the literature on profitability, risk, spreads and their relation to market concentration in the banking sector. Finally, we present the confrontation of literatures for and against the participation of public banks in the economy. We end with Caixa's example as an instrument of countercyclical public policies, detailing its actions during the global financial crisis of 2008.