Institutional Environment and Internationalization: The Case of Brazilian Agency

Abstract

We analyze the acting of a formal government institution in an attempt to support business and fill the institutional void, whose context is evident in Latin America. We investigated the Brazilian Agency for Export and Investment Promotion. The data shows that the institution is configured as a structured market intermediary and directed to contribute to the institutional environment, with the shares to reduce asymmetric information, acting as a link between business exporters and importers and acting as a political strategist. However, it is evident also that the volume of companies with potential for internationalization as well as institutional settings still represent a major challenge for the institutions, being a fertile ground for future research, especially in emerging countries where institutional voids are most evident.