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Economic mainstream and power: a profile analysis of Central Bank directors during PSDB and PT governments in Brazil [Economic mainstream and power: a profile analysis of Central Bank directors during PSDB and PT governments in Brazil]

Author

Listed:
  • Adriano Codato

    (UFPR)

  • Marco Cavalieri

    (UFPR)

  • Renato Perissinotto

    (UFPR)

  • Eric Gil Dantas

    (UFPR)

Abstract

This paper analyses the professional and educational backgrounds of members of the Board of Directors of Central Bank of Brazil in the period between the beginning of the first Fernando Henrique’s term and the end of Dilma Rousseff’s first term. The paper puts forward two novelties. First, a database synthesizing the information from the curricula of the abovementioned individuals. Second, modern literature in the field of methodology of economics is used to categorize the educational backgrounds of those individuals with education in economics. Our general findings point to a differentiation between two types of members in the Board of Directors. The first type is the one generally recruited for the positions concerned with organizational issues within the Bank, and the second is usually the one that occupies posts directly related to the decision making of economic policies. However, we did not identify significant differences between the types of individuals chosen by PSDB and PT governments.

Suggested Citation

  • Adriano Codato & Marco Cavalieri & Renato Perissinotto & Eric Gil Dantas, 2016. "Economic mainstream and power: a profile analysis of Central Bank directors during PSDB and PT governments in Brazil [Economic mainstream and power: a profile analysis of Central Bank directors during," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 26(3), pages 687-720, September.
    • Handle: RePEc:nov:artigo:v:26:y:2016:i:3:p:687-720
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    References listed on IDEAS

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    1. Gohlmann, Silja & Vaubel, Roland, 2007. "The educational and occupational background of central bankers and its effect on inflation: An empirical analysis," European Economic Review, Elsevier, vol. 51(4), pages 925-941, May.
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    3. Frederic S. Lee, 2007. "The Research Assessment Exercise, the state and the dominance of mainstream economics in British universities," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(2), pages 309-325, March.
    4. Hansen, W Lee, 1991. "The Education and Training of Economics Doctorates: Major Findings of the Executive Secretary of the American Economic Association's Commission on Graduate Education in Economics," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1054-1087, September.
    5. Tony Lawson, 2006. "The nature of heterodox economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(4), pages 483-505, July.
    6. Sheila C. Dow, 2012. "Structured Pluralism," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 10, pages 162-177, Palgrave Macmillan.
    7. David Dequech, 2007. "Neoclassical, mainstream, orthodox, and heterodox economics," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(2), pages 279-302.
    8. Etienne Farvaque & Hakim Hammadou & Piotr Stanek, 2009. "Select your Committee: the Impact of Central Bankers Background on Inflation," Economie Internationale, CEPII research center, issue 117, pages 99-129.
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    Cited by:

    1. Ian Coelho de Souza Almeida & Rafael Galvão de Almeida & Lucas Resende de Carvalho, 2017. "Academic rankings and pluralism : the case of Brazil and the new version of Qualis," Textos para Discussão Cedeplar-UFMG 569, Cedeplar, Universidade Federal de Minas Gerais.

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    More about this item

    Keywords

    Brazilian Central Bank; bureaucratic elites; mainstream economics; Board of Directors of Central Bank of Brazil;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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