How important is networking in Brazil? (Equity Research)

Hi, monkeys! 
I'm an economics student from Brazil trying to break into equity research. I'm a freshman, so I'm keeping busy maintaining a good GPA, brushing up on some programming skills, and working towards certifications. However, I am a bit unsure of how the hiring process works.
Is it as straightforward as it seems (finding a job opening -> applying -> doing well in interview > getting hired), or is networking important? Can cold calling/emailing get me more opportunities?

Thank you in advance for any help!