The public development financial institutions and the long-term financing

Abstract

This article aims to discuss the role of public development financial institutions (DFI) on the long-term financing of economy and, consequently, on economic development, as well as to expand the research presented in Ferraz, Além and Madeira (2013). The general outlook of the DFIs in the world is presented, highlighting their historical performance. Besides, in order to illustrate the importance of these institutions, this article contains a more detailed analysis of a sample of eight national DFIs, addressing qualitative and quantitative aspects. The present study extends the concept of development institutions, which allows addressing relevant institutions of some developed countries. In addition, the national system of development financial institutions in the sample countries were also described. This paper concludes that the existence of large DFIs, diversified and with economic relevance, is important to the development trajectory of the nations.