RAPOSO, Eduardo de Vasconcelo
Instituições fortes, moeda estável e banco central do Brasil autônomo - Rio de Janeiro : IESP / UERJ, 2010
The article discusses the autonomy of Brazils Central Bank and its potential relationship to the national currencys stability. Beyond the government budget balance and the Central Banks autonomy, we seek to demonstrate that the currencys stability also depends on the Banks own political and institutional stability. Due to a gap in the literature, which has focused little attention on the political conditions and economic motivation by which important steps were taken towards achieving autonomy, we analyze the relations between autonomy and stability from a historical-institutional perspective. We call attention to the cyclical nature of the Brazilian economy, which alternates developmentalist policies and stabilization policies and thereby alters the Central Banks role and degree of autonomy
Instituições fortes, moeda estável e banco central do Brasil autônomo - Rio de Janeiro : IESP / UERJ, 2010
The article discusses the autonomy of Brazils Central Bank and its potential relationship to the national currencys stability. Beyond the government budget balance and the Central Banks autonomy, we seek to demonstrate that the currencys stability also depends on the Banks own political and institutional stability. Due to a gap in the literature, which has focused little attention on the political conditions and economic motivation by which important steps were taken towards achieving autonomy, we analyze the relations between autonomy and stability from a historical-institutional perspective. We call attention to the cyclical nature of the Brazilian economy, which alternates developmentalist policies and stabilization policies and thereby alters the Central Banks role and degree of autonomy
