Studies in patrimonial
capitalism: banking sector transformation and
privatization in Brazil. |
This paper will identify the socio-economic factors that have
impeded Brazilian government (state) attempts to privatize its
banking sector in a privatizing global economy. I will argue that
the persistence of sub-national claims
("regionalismo"), an ambiguous regulatory policy and a
global oriented financial market embeds patrimonial capitalism
and the state as a financial entrepreneur. The paper is based on
a systematic survey and case studies of Brazilian private and
public financial conglomerates, archival and statistical reports.
Harry Makler