Spread bancário: estimativas var para à economia brasileira

Abstract

Due to the high bank spread rates registered in Brazil in recent years, the study will analyze macroeconomic and legal variable that influence the banking spread. One of the main factors hindering the growth of credit in Brazil is the high interest rates practiced here in relation to the world average. The present work will use econometric techniques for times series, the VAR model, to analyze the impact of macroeconomic and legal variables on bank spread and its variations, form March 2011 to February 2018. The Banking spread used here is calculated by the BCB considering the operations with free resources, the inflation here measured by the National Extended Consumer Price Index, and the SELIC interest rate represent the macroeconomic environment. The compulsory banking is built on information from the BCB and the Risk is measured by the EMBI+ and represent the legal environment. The paper present robust evidence that the Selic rate, the Coutry Risk and the levels of banking compulsory, strongly affect the banking spread and its variations, while the inflation measured by the IPCA does not have a relevant impact on the Bank spread