Policies of the National Financial System: a Characterization of Credit Unions in Brazil

The aim of this study is to characterize credit unions in Brazil, analysing their capacity to meet existing demands, seeking to indicate the cause-effect relationship of credit operations on Gross Domestic Product (GDP) growth. The article relies on the theoretical approach of post -Keynesian thought on the supply of credit, in addition to bringing similarities and distinctions with other aspects of economic thought. To verify the causal relationship between credit unions in Brazil and economic growth, the method of quantitative analysis of time series was used, based on data made available by the government through electronic channels managed by Central Bank of Brazil (BACEN) such as IPEADATA and SGS - Time Series Management System. Our results point to a positive relationship between union operations and GDP. However, it was not possible to identify the same result when dealing with the level of employment in the economy.