The Brazilian Stratup Ecosystem and the Potential Effects of Regulatory Sandboxes for Fintech Companies

This thesis examines the impact regulatory sandboxes could have in Brazil by analyzing what are the effects ‘Sandboxes’ have had in the United Kingdom. First, it adopts a literature review that aims to aggregate information about the current Startup Ecosystem in Brazil, briefly mentioning the introduction of new initiatives such as regulatory sandboxes. Then, it shows what research has found could be the benefits and risks of adopting ‘Sandboxes,’ with a special focus on developing countries. Finally, there is a case study about the United Kingdom and what are the effects regulatory sandboxes have had there. The analysis compares the UK with France because France do not have ‘Sandboxes’, but still have similar macroeconomic variables. Trough such analysis, the thesis argues that these results can be replicable in Brazil.