Actualités
Article dans la revue "Tempo do Mundo" de l’Institut de Recherche Économique Appliquée (attaché au Ministère de l’Économie brésilien) de Camila Villard Duran, résidente IEA-Nantes 2020-2021.
Analyse de l’adhésion du Brésil au Code de Libéralisation des Mouvements des Capitaux de l’OCDE. (Une analyse monétaire et juridique).
LIBERALIZATION OF CAPITAL MOVEMENTS AND THE LEGAL AND MONETARY CHALLENGES FOR BRAZIL JOINING THE ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD)
Abstract :
Brazil’s adherence to the OECD Code of Liberalisation of Capital Movements may increase its capacity to attract foreign investments - at least, this is the official discourse. Nevertheless, the Code’s legal structure may reduce its power to secure mechanisms for managing capital movements, especially in times of crisis. For a country placed on the periphery of the international monetary system hierarchy, there are institutional challenges to be considered. The purpose of this article is to discuss the legal nature of the OECD’s Code, in contrast to “institutional view” on capital flows of the International Monetary Fund (IMF), of which Brazil has been a member since 1946. This article also proposes institutional approaches for Brazil’s diplomatic actions, which can contribute to the construction of the OECD’s decisions and meet the interests of emerging market economies such as Brazil.