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Journal Article
Banking and currency crisis recovery: Brazil's turnaround of 1999
Of the many countries that suffered exchange rate crises in the 1990s, Brazil and Korea recovered most rapidly. This article analyzes the Brazilian recovery. William Gruben and John Welch focus on the freedom that Brazilian bank health gave to the central bank to pursue a postcrisis monetary policy that would settle markets, reestablish price stability, and encourage investment and the return of foreign capital. Brazilian bank health was not an accident; it reflected not only bank responses to precrisis changes in government regulations, but also to large precrisis interest rate increases ...
Journal Article
Banking on it: Increased foreign bank entry into Brazil
Journal Article
Managed care for Brazil's banks
The focus on financial sector reform in emerging market economies often centers on the need to reduce government involvement in markets. Individual countries have taken many different approaches toward reaching this goal. In Brazil, financial sector reform has entailed the need for a large governmental role in structuring reforms, especially in the banking sector. This article explores a key aspect of Brazil's financial liberalization-the reform and opening of the domestic banking sector. ; Efforts to liberalize trade that began in the late 1980s and early 1990s in Brazil were hampered by ...
