2013
DOI: 10.1080/00220388.2013.807503
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The Renewed Developmental State: The National Development Bank and the Brazil Model

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Cited by 77 publications
(62 citation statements)
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“…It is a fact' (Chade, 2008). While actual BNDES lending was not nearly as large as Brazil suggested (Hochstetler and Montero, 2013), the sums still mattered and the threat of losing access to an affordable credit source carried weight, particularly as Venezuelan financing in the region declined with the price of oil.…”
Section: The (In)direct Stick Of a Masked Coercive Hegemonymentioning
confidence: 97%
“…It is a fact' (Chade, 2008). While actual BNDES lending was not nearly as large as Brazil suggested (Hochstetler and Montero, 2013), the sums still mattered and the threat of losing access to an affordable credit source carried weight, particularly as Venezuelan financing in the region declined with the price of oil.…”
Section: The (In)direct Stick Of a Masked Coercive Hegemonymentioning
confidence: 97%
“…While developmentalist ideas -prevalent in Brazil and Latin America from the 1930s to the 1980s (Schneider 1999) -were never completely replaced by the neoliberal ideology that took hold in Brazil from 1995 to 2002 under President Fernando Henrique Cardoso, they were reinvigorated by the Lula administration and adapted for a more market-oriented and globalized economy (Hochstetler and Montero 2013). President Lula's flagship development program, the Programa de Aceleração do Crescimento (PAC -Growth Acceleration Program), sought to bolster Brazil's infrastructure system while creating jobs.…”
Section: Democratic Development Privatization and Dams In Contemporamentioning
confidence: 99%
“…However, President Lula's election also led to a renewed interest in an aggressive developmental strategy (Hochstetler and Montero 2013), which promoted state intervention in economic and industrial growth by building linkages between the state and private enterprises (Johnson 1982). While developmentalist ideas -prevalent in Brazil and Latin America from the 1930s to the 1980s (Schneider 1999) -were never completely replaced by the neoliberal ideology that took hold in Brazil from 1995 to 2002 under President Fernando Henrique Cardoso, they were reinvigorated by the Lula administration and adapted for a more market-oriented and globalized economy (Hochstetler and Montero 2013).…”
Section: Democratic Development Privatization and Dams In Contemporamentioning
confidence: 99%
“…Hochstetler and Montero (2013), for instance, argue that Brazil's recent industrial policy should be understood more as the scaling-up of a gradual state-led strategy aiming to align the country within a more globalized economy than as a clean restart. Through a comparative analysis of policy documents and programmes since Brazil's re-democratization in 1985, the authors show that the central idea of the state playing a strategic role in promoting industrial development and upgrades never disappeared, even if strategies of implementation sometimes shifted.…”
Section: Path Dependency In Brazilian Industrial Policy-makingmentioning
confidence: 99%
“…For example, Hochstetler and Montero (2013) showed that BNDES's more than 2,100 loans from 2002 to 2011 favoured a few big companies, with ten companies receiving 21.3 per cent of the total loan amount. Musacchio and Lazzarini (2014) A frequent criticism in these studies is that Brazilian industrial policy subsidizes consolidated companies that are solid enough to borrow funds in regular financial markets rather than supporting new and innovative sectors.…”
mentioning
confidence: 99%