Efeito do crédito do BNDES para a geração de empregos agroindustriais no Brasil

Abstract

In Brazil, public credit plays an important role in supporting companies, especially those belonging to the industrial sector. In this regard, this study aims at carrying out an assessment of the impact of disbursements by Brazilian Development Bank (BNDES) on job creation in Brazilian agroindustry. For this purpose, the microdata of the Annual Listing of Employees and Salaries (RAIS) and the BNDES were used at the company scope. The econometrics techniques used were the Propensity Score Matching (PSM) and Differences-in-Differences (DID). The period before and after expansion of BNDES disbursements was taken as a reference, due to the countercyclical policy adopted by the government in 2009 to contain the impacts of the international crisis triggered in 2008. The results found indicate that, for the sample under analysis, companies financed between 2009 and 2010, the impact on employment growth was statistically significant and revealed that the companies that received credit from BNDES had different dynamics in terms of job creation. These results show that the expansion of the BNDES disbursement policy was an important instrument on job creation in companies belonging to the agroindustry.