Financiamento de campanhas eleitorais e empréstimos do BNDES: lobby e interesses privados

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Universidade Federal de Goiás


The National Bank for Economic and Social Development (BNDES) and one of the world's development banks and the main instrument of Federal Government long term investment and Financing in almost all the segments of the Brazilian economy. Last doze years, one of the main features of national economic policy was the increase in bank acting, of increasing loans and their greater participation in the Brazilian economy. While some of the resources have been directed one other state entities, the largest share of expenditures, was destined to private companies, in the form of fusions operations or support for investment Projects, most of the time, with interest rates subsidized. In list of companies that were more benefited by the Bank loans include contumacious donors of election campaigns. The possible political influence over the decisions of the BNDES is a very important aspect, in that it is a federal public company, its resources come mainly from public funds as FAT and the National Treasury, originating mainly in the taxes paid by citizens and businesses. This study analyzed the relationship between the financing of election campaigns and the BNDES credit operations. In order to understand the dynamics between the elections and the state of the credit policy we used the regression method with panel data, using quantitative information on: a) provision of election campaigns accounts available in the electronic site of Election-TSE Superior Court; and b) List of direct and indirect operations not automatic BNDES, available on the Site of the National Bank for Economic and Social Development. The results showed that the donations campaign designed to related parties the president of the republic positively influence the BNDES loans and, on the other hand, the donations the opposition parties have the opposite effect. In this same vein, it was found also evidence that there is a positive relationship between the victory of candidate recipient of donations, especially for the post of federal deputy, and access to BNDES credit.



LOPES, A. D. Financiamento de campanhas eleitorais e empréstimos do BNDES: lobby e interesses privados. 2016. 79 f. Dissertação (Mestrado em Administração) - Universidade Federal de Goiás, Goiânia, 2016.