nÃo hà / A presente pesquisa buscou desenvolver um estudo sobre a avaliaÃÃo (de processo) da polÃtica pÃblica de acesso a crÃdito por parte de micro e pequenas empresas (MPEs), mais especificamente em relaÃÃo ao programa do Fundo Constitucional de Financiamento do Nordeste, operacionalizado pelo Banco do Nordeste do Brasil S/A, destinado Ãs micro e pequenas empresas, o FNE-MPE. Na seÃÃo introdutÃria do presente trabalho foi apresentada a proximidade do autor com o tema, o recorte especÃfico da avaliaÃÃo, assim como a questÃo central da pesquisa. Foi reservada seÃÃo para tratar da importÃncia e justificativa do tema abordado, na qual foram levantados os objetivos geral e especÃficos da pesquisa. TambÃm foi elaborada seÃÃo especÃfica para tratar do programa FNE-MPE enquanto polÃtica pÃblica, assim como a anÃlise detalhada de suas condiÃÃes (limites, prazo de financiamento, encargos, garantias, procedimentos para o crÃdito). Deste modo, foram apresentados conceitos e caracterÃsticas das polÃticas pÃblicas e o arcabouÃo e diretrizes legais que norteiam a polÃtica avaliada. A pesquisa ainda tratou sobre os conceitos, histÃrico e caracterÃsticas das MPEs brasileiras, alÃm dos acontecimentos legais e institucionais que marcaram a trajetÃria das aÃÃes polÃticas voltadas Ãs micro e pequenas empresas no Brasil, conjugados com os acontecimentos ocorridos no prÃprio Banco do Nordeste em relaÃÃo ao programa avaliado. Por fim, na seÃÃo destinada à metodologia da pesquisa, foram elencados os caminhos trilhados na busca dos objetivos geral e especÃficos da pesquisa, assim como os principais instrumentos utilizados para o feito (pesquisa documental, entrevistas, aplicaÃÃo de questionÃrios, observaÃÃo participante, dentre outras), assim como algumas constataÃÃes e âachadosâ sobre o tema da pesquisa avaliativa / This research aimed to develop a study on the evaluation (of process) of credit access public policy for micro and small enterprises (MPEâs,), specifically in relation to FNE Northeast Financing Constitutional Fund that is managed by Banco do Nordeste do Brasil S/A, with focus on micro and small companies (FNE-MPE program). The introductory part of this study presented the familiarity of the author with the subject, the specific focus of the evaluation, as well as the central research question. It was reserved a section to discuss about the importance of the subject as well as to justify it. In this part, the general and specific objectives of the research were highlighted. It was also written a specific section to discuss about FNE-MPE program as a public policy, as well as to present detailed analysis of its conditions (limits, financing terms, charges, guarantees, and procedures for credit). Thus, concepts, characteristics of public policies and the legal guidelines that guide the evaluated policy were presented. This paper also present concepts, history and characteristics of Brazilian MPEs, besides legal and institutional events that have marked the course of political actions for micro and small companies in Brazil, in conjunction with the events in the Banco do Nordeste related to the program. Finally, in the section devoted to research methodology, were listed ways of general and specific objectives of the research, as well as the main instruments used (documentary research, interviews, questionnaires, participant observation, among others), as well as some conclusions and findings of the research.

The thesis examined the comprehensive causal relationship between the banking sector, stock market development and economic growth in a multi-variate framework using Zimbabwean time series data from 1988 to 2015. Three banking sector development proxies (total financial sector credit, banking credit to private sector and broad money M3) and three stock market development proxies (stock market capitalization, value traded and turnover ratio) were employed to estimate both long and short run relationships between banking sector, stock market and economic growth in Zimbabwe. The study employs the vector error correction model (VECM) as the main estimation technique and the autoregressive distributed lag (ARDL) approach as a robustness testing technique. Results showed that in Zimbabwe a significant causal relationship from banking sector and stock market development to economic growth exists in the long run without any feedback effects. In the short run, however, a negative yet statistically significant causal relationship runs from economic growth to banking sector and stock market development in Zimbabwe. The study further concludes that there is a unidirectional causal relationship running from stock market development to banking sector development in Zimbabwe in both short and long run periods. Nonetheless this relationship between banking sector and stock markets has been found to be more significant in the short run than in the long run. The thesis adopts the complementary view and recommends for the spontaneity implementation of monetary policies as the economy grows. Monetary authorities should thus formulate policies to promote both banks and stock markets with corresponding growth in Zimbabwe’s economy. / Business Management / M. Com. (Business Management)