Abstract: Part 1 Economic policy and financial development: economy of Brazil monetary correction and real interest accounting income and demand policies in Brazil the economy in the eighties and the debt crisis. Part 2 Financial institutions: historical and structural trends in the Brazilian financial system banking instituutions non-banking financial institutions. Part 3 Financial market sectors: the money market capital market - normalization and development of financial intermediaries the stock exchanges industrial finance. Part 4 Recent developments: debt conversion program privatization program venture capital activities.