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O Banco Central do Brasil: Institucionalidade, Relações com o Estado e com a Sociedade Civil, Autonomia e Controle Democrático

Listed author(s):
  • Carlos Eduardo Carvalho
  • Giuliano Contento de Oliveira
  • Marcelo Balloti Monteiro
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    O artigo discute, à luz da tese da independência do Banco Central do Brasil (BCB) e do processo de formação da autoridade monetária brasileira, a autonomia "de facto" do BCB dentro do Estado e frente à sociedade civil. Embora não seja formalmente independente, em especial por não dispor da prerrogativa exclusiva de conduzir a política monetária, o BCB atua como se dispusesse de plena autonomia jurídica. No exercício dessa autonomia, o BCB muitas vezes ultrapassa os limites legais que deveria observar, sem prestar contas de sua atividade, como ocorreu em diversos episódios recentes. Ademais, o BCB vai além das funções típicas de autoridade monetária e atua como formador de opinião e defensor de ideias e de propostas em áreas como a política econômica e o campo jurídico. Assim, as relações do BCB com o Estado e a sociedade civil constituem uma deficiência do processo democrático brasileiro. The article discusses, based in the theory of Central Bank independence and in the process of formation of the Brazilian monetary authority, the autonomy "de facto" of BCB inside the State and in face to civil society. Although it is not formally independent, for not disposing of the exclusive prerogative to conduct monetary policy, the BCB acts as if it had full juridical autonomy. In the exercise of that autonomy, the BCB often exceeds the legal limits that should be observed without accountability, as occurred in several recent episodes. Furthermore, the BCB transcend the typical functions of monetary authority and acts as opinion leader and defender of ideas and proposals in areas such as economic policy and juridical. Thus, the relations of BCB with the State and civil society constitute an imperfection of the Brazilian democratic process.

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    Paper provided by Instituto de Pesquisa Econômica Aplicada - IPEA in its series Discussion Papers with number 1518.

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    Length: 73 pages
    Date of creation: Dec 2010
    Handle: RePEc:ipe:ipetds:1518
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