Analysis of the reasons for the decline in the loan of working capital credit by private banks to companies in the Brazilian economy between 2010 and 2016.
Credit, Working Capital, Post-Keynesian, 2014 Crisis in Brazil, Hyman Minsky, Credit Cycles, Financial Instability Hypothesis.
This dissertation aims to identify, among the time series provided by Bacen, FIPE, FGV, B3, and IBGE, which ones are most closely aligned with the behavior of credit concession to companies by private banks through working capital loans in Brazil between 2010 and 2016. To this end, a graphical technical analysis of the series is conducted, as well as statistical and econometric analyses. In line with Post-Keynesian theory, and particularly with Minsky's financial instability hypothesis, it is observed that variables related to agents' expectations are more correlated with working capital loan to companies by private banks than variables linked to the economic situation of the same period.