political power and the economic mainstream

[Produção de cédulas de notas de 50 reais 
na Casa da Moeda no Rio de Janeiro 
Marcelo Sayão/EFE] 


New Mexico State University
Carruthers Chair in Economic Development
May 4th, 2016


Research Seminar
Political Power and The Economic Mainstream: A Profile Analysis of the Brazilian Central Bank’s Board of Directors


Marco Cavalieri, Adriano Codato, Renato Perissinotto, Eric Dantas
(Federal University of Paraná, Brazil)
Observatory of social and political elites of Brazil

Abstract
This paper presents an analysis of the professional and educational backgrounds of the individuals who occupied posts in the Board of Directors of the 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 research advances two novelties. First, we constructed a database synthesizing the information from the curricula of the above mentioned individuals. Second, we use modern literature in the field of methodology of economics 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 related directly to the formulation of economic policies. However, we did not identify significant differences between the types of individuals chosen by the PSDB or PT governments.

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