Privatization and restructuring of banks in Brazil

Evolution of bank efficiency in Brazil: A DEA approach

“…They find positive effects of privatization, but not for the restructuring process. Baer and Nazmi (2000) examine the crises that emerged with the end of inflation in Brazil and the implications of the newly emerging bank structure. They conclude that its banking system still remains inefficient and that competition and private sector involvement could increase efficiency.…”

Returns to acquirers of privatizing financial services firms: An international examination

“…Some of these problems, which would be expected to impact acquirer returns, exist to a lesser extent in other countries as well. For example, Baer and Nazmi (2000) describe how decades of high inflation in Brazil distorted bank decision-making. Just as in the former communist countries, Brazilian banks were faced with large volumes of problem loans when the monetary authorities belatedly attempted to bring inflation under control.…”

Deconstructing credibility: The breaking of monetary policy rules in Brazil

“…Anecdotal evidence and preliminary analysis of the data gives us reasons to suspect a discretionary change in the BCB's monetary policy orientation under a broader context of heightened government 8Private banks increased th eir share in to tal lending since th e late 1980s and early 1990s with th e rise of privatizations in Brazil (Baer and Nazmi, 2000). Figure B.1 on th e Online Appendix plots th e historical tim e series of th e public sector's share on to ta l bank credit.…”