Acessibilidade / Reportar erro

Financial interests and the capture of the State in Brazil

ABSTRACT

The work explores the evaluation of (Bresser-Pereira, 2007BRESSER-PEREIRA, L. C., (2007) Macroeconomia da Estagnação. São Paulo: Editora 34.) 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.

KEYWORDS:
Financial interests; capture theory; investor relations; Central Bank; National Treasure; Best Brazil

Centro de Economia Política Rua Araripina, 106, CEP 05603-030 São Paulo - SP, Tel. (55 11) 3816-6053 - São Paulo - SP - Brazil
E-mail: cecilia.heise@bjpe.org.br