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Master's Dissertation
DOI
Document
Author
Full name
Eduardo da Silva Mattos
Institute/School/College
Knowledge Area
Date of Defense
Published
São Paulo, 2014
Supervisor
Committee
Salomão Filho, Calixto (President)
Proença, José Marcelo Martins
Saddi, Jairo Sampaio
Title in Portuguese
O que a crise do subprime ensinou ao Direito? Evidências e lições do modelo concorrencial e regulatório bancário brasileiro
Keywords in Portuguese
Bancos regulamentação
Crise financeira
Direito bancário Brasil
Sistema financeiro
Abstract in Portuguese
O objetivo central da presente dissertação é analisar criticamente a estrutura bancária brasileira durante e após a crise financeira de 2008, chamada de crise do subprime. Há certo consenso na literatura especializada de que o Brasil atravessou bem o colapso financeiro internacional, principalmente quando se coloca o desempenho da economia e dos bancos brasileiros lado a lado com o de outros países, notadamente os Estados Unidos. A explicação básica é a de que isso se deu, em grande medida, pelas condições concorrenciais e regulatórias previamente existentes no país. Entretanto, este estudo demonstra que o fenômeno da crise do subprime não foi completamente compreendido quando são feitas essas comparações, em especial quando se analisam as condições que propiciaram a origem da crise nos Estados Unidos. Ainda, vários dos fatores apontados como razão da solidez financeira brasileira foram criticados em outros momentos como sendo gargalos e deficiências históricos do setor bancário nacional. Por mais que se deva avaliar positivamente o comportamento das instituições financeiras no Brasil durante o período de dificuldades, essa análise deve ser feita com parcimônia para evitar a complacência acadêmica e operacional quanto à qualidade do sistema financeiro, visto que ainda são grandes os desafios a serem enfrentados para humanizar e democratizar as finanças no país.
Title in English
What did the subprime crisis teach Law? Evidence and lessons from Brazilian competition and regulatory banking model
Keywords in English
Banking crises
Financial system
Market structure
Abstract in English
The main purpose of this dissertation is to critically analyze the Brazilian banking structure during and after the financial crisis of 2008, called the subprime crisis. There is some consensus among authors that Brazil and its banks behaved well during the international financial turmoil, especially when compared to other countries, like the United States. The given explanation for that soundness is basically the competitive and regulatory conditions previously existing in the country. However, as this study tries to demonstrate, the subprime crisis was not fully understood when these comparisons between countries were (and are) made, especially when considering the conditions that led to the origin of the crisis in the United States. Besides, several factors cited as reasons for the Brazilian financial strength have been criticized in other moments as bottlenecks and historical flaws of the domestic banking sector. As much as one should positively evaluate the behavior of financial institutions in Brazil during the period of difficulties, such analysis should be done sparingly to avoid academic and operational complacency about the quality of the financial system, as there are still major challenges to be faced to humanize and democratize the country's finances.
 
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Release Date
2019-10-04
Publishing Date
2017-11-30
 
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