Access to Financial Resources for Local Companies: Revitalizing Brazil's Stock Exchange

This case focuses on the importance of creating a local stock market that serves as an attractive source of financing for growth-oriented small and medium size enterprises (SMEs) as well as established large companies. Brazilian officials recognized that in order for the private sector to become a larger, more constructive contributor to the country’s economic growth and development there must be major reforms in the regulations and infrastructure of the stock exchange. The case examines the constraints to stock market development and various policy and regulatory options considered by Brazilian officials as they worked to strengthen the domestic stock market and expand private company access to equity capital. 

Case studies are integral teaching tools for the Leadership Academy for Development workshops conducted around the world.