Repolitizando a política externa financeira: uma análise da formulação da política externa brasileira para o setor financeiro pós 2008

Abstract

The present research identifies systemic and domestic factors that exert influence on the decision making of the Brazilian foreign policy for the financial sector, mainly after the 2008 financial crisis period. To fulfill this aim, the research analyzes the domestic actors who are active in the foreign policy formulation process, as well as their interests. Brazilian federal agencies - including the Ministry of Finance, the Central Bank and the Ministry of Foreign Affairs - are the most participative actors in this process. Despite having political power, the private sector delegates its involvement to the government, assuming a reactive stance. On an opposing way, civil society has little influence in this process. The international order has an important role in this process because it restricts the country actions, according to its position in power hierarchy. After Brazilian economic stabilization and the 2008 financial breakdown which plunged North markets into crisis, Brazil has more freedom to act in the international field. As a result, there is a process of re-politicization of foreign policy for the financial sector, in which, at the international level, Brazil cooperates with other emerging countries demanding the redistribution of decision-making power, and domestically, actors who had not previously had great influence now emerge