Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/240721 
Year of Publication: 
2019
Series/Report no.: 
Texto para Discussão No. 2525
Publisher: 
Instituto de Pesquisa Econômica Aplicada (IPEA), Brasília
Abstract (Translated): 
The theme of this text is the construction of state capacities to enable medium and long term investment. The focus was on the relationship between public funds and state financial agents in the formation of institutional arrangements for the financing of economic development, based on a specific strategy. We sought to analyze the mechanisms by which the Worker Support Fund (FAT) absorbs and makes available resources for projects of national interest, managed by the National Bank for Economic and Social Development (BNDES). It was observed that there is a complex relationship of institutional complementarity involving FAT and BNDES, whose trajectory was marked by strong instability in recent years, which is a worrying situation in terms of economic planning because FAT is one of the main generators of funding for the BNDES, which in turn is the main medium and long-term financing agent in the country.
Subjects: 
FAT
BNDES
investment capacity
state capacities
institutional complementarity
JEL: 
E22
E62
H53
J38
J68
Document Type: 
Working Paper

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