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Policy analysis in Brazil$
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Jeni Vaitsman, Jose M. Ribeiro, and Lenaura Lobato

Print publication date: 2013

Print ISBN-13: 9781447306849

Published to Policy Press Scholarship Online: January 2014

DOI: 10.1332/policypress/9781447306849.001.0001

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Privatisation and Policy Decision-Making in Brazil

Privatisation and Policy Decision-Making in Brazil

(p.81) Seven Privatisation and Policy Decision-Making in Brazil
Policy analysis in Brazil

Licinio Velasco

Armando Castelar Pinheiro

Policy Press

This chapter focus on the public development bank and offer a historical analysis of the privatisation of State enterprises in Brazil through the – initially circumstantial – activities of the Brazilian Development Bank (BNDES) in developing the models for the transfer of ownership deployed particularly by the administrations of Fernando Henrique Cardoso in line with macroeconomic adjustment in the 1990s. The long period of divestment of major assets converged with the steadily growing authority and capacity of the BNDES and its technical staff to nurture each cycle of government with information and solutions for decision making. Despite the complexity of the factors that impelled and restrained cycles of privatisation under different governments, the authors highlight the capacity of the BNDES to influence the process, motivated both by interest as a quota-holder and by its policy agenda. The diagnoses, analyses and recommendations produced by its more strategic technical staff were crucial in reducing vetoes and taking circumstantial opportunities.

Keywords:   Privatisation, State Reform, Public Investment, Government Capacity, Brazil

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