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What drives the inequality of Brazilian cross-states household credit?

Paulo Rogério Faustino Matos, Joaquim Correa


According to Matos et al. (2013) the credit policy in Brazil has been discriminatory and strongly characterized by regional aspect. We address the discussion about credit drivers in Brazil, following methodologically Hansen and Sulla (2013). We propose a contemporaneous panel model to estimate a relationship between real per capita Brazilian household credit and a set of main social, economic, labor market and financial variables. Our main findings considering all federal subnational entities during the period from 2004 to 2013 suggest that demand for credit plays a more relevant role then supply side. We claim that if Brazilian policy makers want to use financial system as growth catalyzer against the recent deep crises, than it should care about household’s levels of human capital and real income, besides providing a society less unequal. Our evidences can be useful to write theoretical models dealing with credit patterns in Brazil.


Household credit, Panel data, Poverty, Per capita income, Gini index, Years of schooling

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ISSN 0034-7140 (print) ISSN 1806-9134 (online)