On the determinants of capital costs in Brazil's manufacturing industries:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Kiel
Inst. für Weltwirtschaft
1990
|
| Series: | Kiel working papers
416 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Literaturverz. S. 89 - 91 |
| Physical Description: | 91 S. |
Staff View
MARC
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| 245 | 1 | 0 | |a On the determinants of capital costs in Brazil's manufacturing industries |c by Kálmán Dezséri |
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Record in the Search Index
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|---|---|
| adam_text | Contents
Page
1. Introduction and Overview 5
2. Cost of Capital Concepts 8
2.1. Definitions 8
2.2. Conceptual and Methodological Problems 13
2.3. Investment, Saving, Interest Rate 15
3. Allocation of Capital and Credit in the
Brazilian Manufacturing Industries 20
3.1. Investment 20
3.2. Financial Intermediation in Brazil 25
3.3. Allocation of Credit 37
3.4. Allocation of Equity 43
4. Sources of Capital and Credit for the
Brazilian Manufacturing Industries 47
4.1. Internal and External Savings 47
4.2. Indebtedness Public Debt, Foreign Debt 51
4.3. Effects of Monetary Policy 55
5. Credit Terms for the Manufacturing
Industries 57
5.1. Credit Availability 57
5.1.1. Subsidised Credits 60
5.1.2. Credit at Market Rates 64
5.2. Equity Supply 68
5.3. Eltects of Inflation and Tax«uon 71
6. Capital Costs in ßrazil s Manufacturing
Industries 73
6.1. Rate of Return on Equity 73
6.2. Effective Cost of Borrowing 77
7. Conclusion 79
List of References 89
List of Tables
Page
Table 1 Gross Capital Formation in Brazil in
Current Millions of Cruzeiros and as
% of GDP, 1970 1985 21
Table 2 Gross Fixed Capital Formation in the
Brazilian Manufacturing Industries in
Current Billions of Cruzeiros and as %
of Total Gross Fixed Capital Formation,
1970 1985 24
Table 3 Gross Fixed Capital Formation in the
Brazilian Manufacturing Industries in
Current Billions of Cruzeiros and as
% of Value Added, 1970 1985 26
Table 4 Distribution of Liabilities of the
Brazilian Financial System (Data as
Percentages), 1970 1985 33
Table 5 Distribution of Credits to the Private
Sector by Final Lenders in Brazil (Data
of Percentages), 1970 1985 36
Table 6 Credits by the National Bank for Economic
and Social Development (BNDES) to Brazilian
Manufacturing Industries in Current Millions
of Cruzeiros and as Percentages, 1970 1985 39
Table 7 Long Term Credits by Banco do Brasil to
Brazilian Manufacturing Industries in
Current Millions of Cruzeiros and as Per¬
centages, 1970 1985 41
Table 8 Short Term Credits by Banco do Brasil to
Brazilian Manufacturing Industries in
Current Millions of Cruzeiros and as Per¬
centages, 1970 1985 42
Table 9 Sources of Funding: 90 Open or Publicly
Quoted Brazilians Corporations (in Percentage
of Total Sources), 1978 1982 45
Table 10 Gross National Savings (Sources of Gross
Capital Formation) of Brazil in Current
Millions of Cruzeiros and as % of GDP,
1970 1985 4Ö
Table 11 External Savings of Brazil in Current
Millions of Cruzeiros and as % of GDP,
1970 1985 50
Page
Table 12 Consolidated General Government Accounts of
Brazil at Year Ending in Current Billions of
Cruzeiros and as % of GDP, 1970 1985 52
Table 13 Federal Public Debt and Debt of the Central
Bank in Brazil at Year Ending in Current
Billions of Cruzeiros and as % of GDP,
1970 1985 53
Table 14 Characteristics of Credits to the Brazi
lian Manufacturing Industries at Special
Subsidised and Market Terms, 1970 1985 59
Table 15 Special (Subsidised) Credit Scheines in
Brazil, 1970 1985 62
Table 16 Loan Instruments in the Brazilian Capital
Market Used by Manufacturing Industries,
1970 1985 65
Table 17 Effective Domestic Interest Rates in Brazil,
1970 1985 66
Table 18 Effective Interest Rates on Net Foreign Debt
of Brazil, US Prime Rate and LIBOR, 1970 1985 69
Table 19 Rate of Return on Equity of Stockholders
(Before Tax) in the Brazilian Manufacturing
Industries as %, between 1970 and 1985 74
Table 20 Effective Cost of Borrowing in p.c.
1980 1987 78
List of Appendix Tables
Table AI BNDES System Gross and Net Disbursements in
Current Billion of Cruzeiros, 1970 1985 83
Table A2 BNDES System Gross and Net Disbursements at
Constant Prices 100=1985, 1975 1985 84
Table A3 Sources of Funding: 32 Major Open or Publicly
Quoted Private Sector Brazilian Companies (in
Percentage of Total Sources) 1948 1974 85
|
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| id | DE-604.BV003673018 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T16:03:37Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-002337849 |
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| physical | 91 S. |
| psigel | HUB-SO047nak200702 |
| publishDate | 1990 |
| publishDateSearch | 1990 |
| publishDateSort | 1990 |
| publisher | Inst. für Weltwirtschaft |
| record_format | marc |
| series | Kiel working papers |
| series2 | Kiel working papers |
| spelling | Dezséri, Kálmán Verfasser aut On the determinants of capital costs in Brazil's manufacturing industries by Kálmán Dezséri Kiel Inst. für Weltwirtschaft 1990 91 S. txt rdacontent n rdamedia nc rdacarrier Kiel working papers 416 Literaturverz. S. 89 - 91 Kapitalkosten (DE-588)4135348-1 gnd rswk-swf Verarbeitende Industrie (DE-588)4133768-2 gnd rswk-swf Brasilien (DE-588)4008003-1 gnd rswk-swf Brasilien (DE-588)4008003-1 g Verarbeitende Industrie (DE-588)4133768-2 s Kapitalkosten (DE-588)4135348-1 s DE-604 Kiel working papers 416 (DE-604)BV000000922 416 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002337849&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Dezséri, Kálmán On the determinants of capital costs in Brazil's manufacturing industries Kiel working papers Kapitalkosten (DE-588)4135348-1 gnd Verarbeitende Industrie (DE-588)4133768-2 gnd |
| subject_GND | (DE-588)4135348-1 (DE-588)4133768-2 (DE-588)4008003-1 |
| title | On the determinants of capital costs in Brazil's manufacturing industries |
| title_auth | On the determinants of capital costs in Brazil's manufacturing industries |
| title_exact_search | On the determinants of capital costs in Brazil's manufacturing industries |
| title_full | On the determinants of capital costs in Brazil's manufacturing industries by Kálmán Dezséri |
| title_fullStr | On the determinants of capital costs in Brazil's manufacturing industries by Kálmán Dezséri |
| title_full_unstemmed | On the determinants of capital costs in Brazil's manufacturing industries by Kálmán Dezséri |
| title_short | On the determinants of capital costs in Brazil's manufacturing industries |
| title_sort | on the determinants of capital costs in brazil s manufacturing industries |
| topic | Kapitalkosten (DE-588)4135348-1 gnd Verarbeitende Industrie (DE-588)4133768-2 gnd |
| topic_facet | Kapitalkosten Verarbeitende Industrie Brasilien |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002337849&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV000000922 |
| work_keys_str_mv | AT dezserikalman onthedeterminantsofcapitalcostsinbrazilsmanufacturingindustries |