The Brazilian National Development Bank goes International: Innovations and Limitations of <scp>BNDES</scp>' Internationalization
Bibliographic record
Abstract
Abstract The Brazilian National Development Bank (BNDES) saw dramatic increases in its financial resources for lending after 2005. This article explains how the bank has been ‘internationalized’ alongside this growth in total resources, beginning with export finance and expanding to supporting foreign direct investments and other international economic activities. At the same time, legal and structural factors restrict BNDES’ international activities in ways that are often poorly understood, but that keep many of the bank's resources inside Brazil or tightly linked to Brazilian firms. After a general explanation of these factors, this paper examines empirical claims about BNDES’ lending to its South American neighbors, concluding that it is considerably more limited than both the bank's critics and champions contend.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.027 | 0.039 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.003 | 0.003 |
| Science and technology studies | 0.004 | 0.012 |
| Scholarly communication | 0.015 | 0.007 |
| Open science | 0.002 | 0.004 |
| Research integrity | 0.003 | 0.004 |
| Insufficient payload (model declined to judge) | 0.007 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".