Análise da assimetria na distribuição de crédito por sectores de actividade : o caso do Millennium Bim

Abstract

The present work deals with the distribution of credit by activity sectors, specifically in the areas of agriculture, commerce, industry, construction, transport and other sectors, having been made a theoretical analysis around the theme, embodied in the case study of (Millennium Bim ). Until 1992, the distribution of credit in the economy was determined through administrative criteria according to which the government favored some sectors considered priority over others. Over time, the financial system has been developing and diversifying, as with the decentralization of Net Domestic Assets (AIL's) and the liberalization of interest rates that occurred in 1994, a radical change in the banking system was possible, where the commercial banks now have greater autonomy in managing their credit portfolio. Currently, the decision criteria for credit allocation in the country's different economic activities depend on the strategies and policies of commercial banks, with the Bank of Mozambique (BM) having little influence on this matter, intervening only to monitor banks through instruments such as the mandatory reservations and others. The study was based on official statistics from the Bank of Mozambique as well as from Millennium Bim, comparing the evolution and behavior of credit in the economy and in the different economic activities in the country. The study reached the conclusion that the evolution of credit in the economy, in absolute terms, has shown a growing trend, which reveals a greater availability of funds for the sectors. In relative terms, analyzing this evolution by sector of activity, it appears that there is a downward trend in funds allocated to agriculture, due to its weak capacity for return, with high risk and lack of guarantees that this sector presents and an increase in others sectors, in particular commerce, industry, due to the lower risk and greater capacity to repay the loans granted that the dynamic development of these sectors has been providing. (TRADUÇÃO NOSSA)