1) crescimento moderado do crédito não é o que tivemos no Brasil no passado recente, ao contrário: ele dobrou nos últimos oito anos;
2) crédito baseado na poupança interna? Nem pensar...;
3) Financiamento externo reduzido? Ninguém consegue...
4) Transações correntes sólidas? Mas elas estão se degradando rapidamente...
Pois é, tudo o que temos de bom, que é um sistema bancário sólido (et encore) foi feito pelo governo anterior; a flutuação cambial também, que nos ajuda a aliviar os desequilíbrios externos e que os companheiros tanto criticaram quando foi feito.
Os companheiros, na verdade, são responsáveis por tudo o que está acontecendo de ruim na economia brasileira, e já nem falo da destruição da Petrobras e da Eletrobras, das patifarias em todas as áreas e da incompetência generalizada. Eles estão simplesmente afundando o Brasil.
Podiam pelo menos aprender como fazer as coisas direito.
Este paper do FMI sobre a Ásia ensina como...
Paulo Roberto de Almeida
Why Was Asia Resilient? Lessons from the Past and for the Future
Prepared by Phakawa Jeasakul, Cheng Hoon Lim, Erik Lundback
February, 2014
IMF Working Paper, WP/14/38
Monetary and Capital Markets Department
Abstract:
Asia proved to be remarkably resilient in the face of the global financial crisis, but why was its output performance stronger than that of other regions? The paper shows that better initial conditions—in the form of lower external and financial vulnerabilities—contributed significantly to Asia’s resilience. Key pre-crisis factors included moderate credit expansion, reliance on deposit funding, enhanced bank asset quality, reduced external financing, and improved current accounts. These improvements reflected the lessons from the Asian financial crisis in the late 1990s, which helped reshape both public policies and private sector behavior. For example, several countries stepped up their use of macroprudential policies, well before they were recognized as an essential component of the financial stability toolkit.
They also overhauled financial regulations and strengthened oversight of financial institutions, which helped reduce risk-taking by households and firms before the global financial crisis. Looking ahead, Asia is in the process of adjusting to more volatile external conditions and higher risk premiums. By drawing the right lessons from its pre-crisis experiences, Asia’s economies will be better equipped to address new risks associated with increased cross-border capital flows and greater integration with the rest of the world.
This Working Paper should not be reported as representing the views of the IMF.
disponível neste link: http://www.imf.org/external/pubs/ft/wp/2014/wp1438.pdf
