Convenções neoliberais, Basileia e o futuro dos bancos de desenvolvimento: o caso do BNDES

Abstract

By resuming the discussion on the current and future situation of development banks (DBs), this article examines the main obstacles they face. Focusing on the influence of the Basel agreements and the case of the Brazilian development bank, BNDES, it is argued that the limitations derive mainly from the conditions placed by the “neoliberal financial convention”, widely and uncritically absorbed in Brazil. Namely, risk aversion and emphasis on credit returns, to the detriment of development objectives, justify why BNDES is unable to finance the agents, activities and territories that most need support. This constitutes the main obstacle to the operationalization of the current national and global development agendas. In the end, it is recommended to review the “regulatory standardization” and other limitations to the fulfillment of the official missions of the DBs and especially to the future performance of the BNDES, given the imperatives of sustainable and inclusive development.