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Financial interests and the capture of the State in Brazil

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  • Marcus Ianoni

Abstract

The work explores the evaluation of Bresser-Pereira (2007) of which the Brazilian macroeconomic policy expresses the capture of the State by a coalition of rentiers and financiers interests, which also influences financial regulation. To this end, analyzes two investor relations agencies, of the Central Bank and of the National Treasury, and an investment promotion agency formed by regulators and regulated. Argues that these agencies strengthen communication and policymaking channels between regulators and regulated; attest to the influence of financial institutions on public policy decisions; and carry convergence of interests among financial investors and State. Concludes by assessing the thesis of macroeconomic policy capture is feasible and should be researched in a systemic way. JEL Classification: E5; G0; F3.

Suggested Citation

  • Marcus Ianoni, 2017. "Financial interests and the capture of the State in Brazil," Brazilian Journal of Political Economy, Center of Political Economy, vol. 37(2), pages 324-342.
    • Handle: RePEc:ekm:repojs:v:37:y:2017:i:2:p:324-342:id:135
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/135/123
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    More about this item

    Keywords

    Financial interests; capture theory; investir relations; Central Bank; National Treasure; best Brazil.;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G0 - Financial Economics - - General
    • F3 - International Economics - - International Finance

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