Brazil’s State-Owned Enterprises: A Case Study of the State by Thomas J. Trebat

By Thomas J. Trebat

This ebook presents a scientific research of the functionality of Brazil's huge state-owned agencies. The Brazilian financial system encourages deepest company, however the govt itself owns and operates such severe industries as petrochemicals, metal, electrical energy and telecommunications. The Brazilian country has assumed the function of an entrepreneur no longer for ideological purposes, yet as a realistic technique of rushing up the method of monetary development. the writer examines the commercial and fiscal functionality of those state-owned businesses when it comes to their contribution to monetary progress. He concludes that during Brazil they've been potent substitutes for personal funding in a few strategic industries and that their skill to collect quite a lot of capital, to draw expert managers, and to earn average earnings approved the Brazilian financial system to develop extra quickly through the Nineteen Sixties and Seventies than may were the case of their absence.

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2. 1. Source: Visdo, Quem e quem na economia brasileira, August 29, 1980, p. 422. Origins of public enterprise 39 of the 356 enterprises owned by Brazilian states. But a larger story lies hidden behind these numbers. For example, one of the "infrastructure" areas is Planning, Research, Development, activities prima facie within the competence of private enterprise. Fully 134 public enterprises fall within this classification. Another 21 public firms engage in "construction and engineering," again an area, theoretically at least, within the reach of the private sector.

Source: Visdo, Quem e quem na economia brasileira, August 29, 1980, p. 422. Origins of public enterprise 39 of the 356 enterprises owned by Brazilian states. But a larger story lies hidden behind these numbers. For example, one of the "infrastructure" areas is Planning, Research, Development, activities prima facie within the competence of private enterprise. Fully 134 public enterprises fall within this classification. Another 21 public firms engage in "construction and engineering," again an area, theoretically at least, within the reach of the private sector.

The BNDE's importance as an agent of public sector intervention in the economy goes well beyond its traditional longterm lending role. It also provides working capital credits for Brazilian companies, financial assistance for corporate reorganizations and mergers, and stock and bond underwriting for small and medium-sized companies. 26 Brazil's state-owned enterprises The operations of the BNDE exhibit two dilemmas encountered by a state playing a major role in an economy that is not centrally planned.

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