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Empirical Economics
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12-07-2024

Are the loans of state-owned banks politically motivated?

Authors: Erik Figueiredo, João Ricardo Faria, Jaime Orrillo, Rodrigo Pereira

Published in: Empirical Economics | Issue 1/2025

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Abstract

The article delves into the political motivations behind loans from state-owned banks, focusing on Brazil's BNDES. It examines whether political affiliation influences loan disbursements, potentially distorting credit allocation. The study uses a theoretical model and empirical data from over 5,000 Brazilian municipalities to test this hypothesis. The findings suggest that municipalities with mayors aligned with the central government receive higher disbursements, highlighting the potential for political bias in state-owned bank operations. This work contributes to the literature by providing empirical evidence and a theoretical framework that explains how political preferences can shape credit distribution.
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Metadata
Title
Are the loans of state-owned banks politically motivated?
Authors
Erik Figueiredo
João Ricardo Faria
Jaime Orrillo
Rodrigo Pereira
Publication date
12-07-2024
Publisher
Springer Berlin Heidelberg
Published in
Empirical Economics / Issue 1/2025
Print ISSN: 0377-7332
Electronic ISSN: 1435-8921
DOI
https://doi.org/10.1007/s00181-024-02636-6

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