Os bancos de desenvolvimento e o papel do BNDES

Abstract

Over the last few years, BNDES has undergone an accelerated process of transformation – with emphasis on the adoption of the Long-Term Rate (TLP) – and an intense strategic reflection on the guidelines on which it will base its performance in the coming years. In this context, the present work fulfills a triple objective. First, to present the theory on how development banks should act (normative vision). Second, to show evidences of how BNDES’ performance has actually been conducted (positive vision). Third, to discuss the role of BNDES based on the normative and positive views previously presented. Finally, some proposals are made to guide the future performance of BNDES. It should be noted that the reflection carried out here should not be seen as an alternative to the institution’s ongoing planning efforts, but rather as part of this ongoing transformation movement.