Abstract A vast literature describes the process of credit expansion that took place in the early 2000s in Brazil, which entailed a strong increase in consumer credit. Given the centrality of consumer credit not only in the determination of macroeconomic dynamics but also in the daily life of the population, the history of its evolution is a recurring and important theme in the context of developed countries. Such a history has, however, not been told for the Brazilian case. Using archival and other sources, this paper puts this process into historical perspective using a Social Structure of Accumulation framework. We find that the expansion of consumer credit has underpinned Brazil’s accumulation regimes. Putting consumer credit to the historical test allows us to deepen the understanding of its modern expansion and the role played by this credit in the organization of the economic system through time.

中文翻译：

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巴西消费信贷的历史：从发展主义时代到卢拉

摘要 大量文献描述了 2000 年代初期巴西发生的信贷扩张过程，这导致了消费信贷的强劲增长。鉴于消费信贷不仅在宏观经济动态的决定中而且在人口的日常生活中都处于中心地位，因此在发达国家的背景下，消费信贷的演变历史是一个反复出现的重要主题。然而，巴西的案例并没有讲述这样的历史。本文使用档案和其他来源，使用积累的社会结构框架将这一过程置于历史视角。我们发现消费信贷的扩张支撑了巴西的积累制度。