The institutional evolution of the Brazil’s Central Bank and changes in Brazil’s monetary policy, from 1864-1998

Authors

  • Lecio Antonio Mendonça de Morais Câmara dos Deputados,Brasília, Distrito Federal

DOI:

https://doi.org/10.5007/%25x

Abstract

This paper reviews the changes of Brazilian monetary policy between 1964 and 1998, and relates them to the shifts of the international monetary policy paradigm during this period. The study focuses especially on the 1990s. The article uses the concepts of theoretical and economic policy paradigms (Peter Hall) and organisational field (March and Olsen) to investigate the diffusion of the neoliberal monetary policy framework in Brazil. The article also considers the relationship between the integration of the Central Bank of Brazil (BCB) in the international field of central banking and the changes in the degree of professionalisation of the directors of the BCB, offering a periodisation for this process. The changing degree of professionalisation of the monetary authority reveals the process of diffusion of the new (neoliberal) paradigm of economic theory and policy, which underpins the monetary policy changes in Brazil. This analysis is based on the professional and academic background of the directors of the BCB. Keywords: Brazil’s Central Bank, monetary policy.

Author Biography

Lecio Antonio Mendonça de Morais, Câmara dos Deputados,Brasília, Distrito Federal

possui graduação em Ciência Econômica pela Universidade Tiradentes (1978) , especialização em Planejamento Em Saúde Pública pelo Fundação Oswaldo Cruz (1982) , especialização em Planejamento Gestão e Orçamento Público pela Escola Brasileira de Administração Pública do Distrito Federal (2002) e mestrado em Ciência Política pela Universidade de Brasília (2004) . Tem experiência na área de Economia , com ênfase em Economia Monetária e Fiscal. Atuando principalmente nos seguintes temas: central banking, poítica monetária, banco central, paradigma de política econômica, transformação institucional.

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Published

2005-01-01

Issue

Vol. 4 No. 6 (2005)

Section

Special Issue 1 - Sociology and sociologists in Latin America: research, teaching, and interdisciplinarity in contemporary context

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