O BNDES e a Covid-19: uma atuação anticíclica, temporária e focalizada

Abstract

One of the main duties of development banks is to correct market failures. In crisis situations, the market is unable to solve such episodes on its own, thereby opening room for public policy interventions that may potentially generate social wellbeing. This paper discusses the BNDES’ counter-cyclical performance in the Covid-19 crisis. The characteristics of each measure, its main objectives, and a qualitative analysis of the results achieved are presented. In general, it can be stated that, during this period, the BNDES acted in a temporary and focused manner, contributing to the diret and indirect injection of BRL 154.8 billion (2.1% of the GDP) into the Brazilian economy.