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A Brief History of the Brazilian Financial System: From the 19th Century to the Current Dynamics of Financialization and Concentration

Pedro Parreiras


With the intensification of the financialization of the Brazilian economy in recent decades it has become increasingly important to understand the dynamics surrounding the Brazilian Financial System (BFS). In order to contribute to this endeavor, this article reconstitutes a brief history of the BFS, starting from the 19th century until the first decades of the 21st century. In addition, data are also presented to corroborate the view of the current SFB characterized by financialization and concentration of assets in a few institutions.


Brazilian Financial System; History of the Brazilian Financial System; Financialization.

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Arquivo (English)