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Title: Legalidade ou discricionariedade na governança de bancos públicos: uma análise aplicada ao caso do BNDES
Keywords: Banco Nacional de Desenvolvimento Econômico e Social (Brasil)
Brazilian Development Bank
Governança corporativa - Brasil
Corporate governance - Brazil
Instituições financeiras governamentais - Brasil
Government financial institutions - Brazil
Issue Date: Jan-2017
Publisher: Fundação Getúlio Vargas
Abstract: This article aims to evaluate the institutional design of the political delegation that shapes The Brazilian Development Bank’s (BNDES) financial activities. It employs a normative framework of administrative law, concerning the types of political delegation, and studies two of them: legality and discretion. Legal governance is a type of arrangement in which policy objectives are delegated by the Congress, while discretionary public governance policy objectives are defined in the Executive branch of government. Both types have different comparative advantages in governing policies. Whereas legality favors predictability and publicity, discretion enables flexibility and less political involvement. The main claim is that, due to Brazil’s institutional environment, discretionary governance has proven advantageous. BNDES has been kept from the games of political and parliamentary clientele and it has suitable operational flexibility to act in times of economic crisis. However, this configuration also has costs, including financial agenda opacity and social accountability deficits.
Other Identifiers: SCHAPIRO, Mario Gomes. Legalidade ou discricionariedade na governança de bancos públicos: uma análise aplicada ao caso do BNDES = Legalidad y discreción en la gobernanza de bancos publicos: un análisis aplicado al caso de BNDES = Legality and discretion in public governance of state-owned banks: an analysis applied to the case of BNDES. Rio de Janeiro: Fundação Getúlio Vargas, 2017. p. 105-128
Appears in Collections:BNDES em Foco - Artigos

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