| dc.description.abstract | This doctoral thesis aims to analyse the system of management of Brazilian monetary
policy, especially as regards democratic accountability, transparency, and instruments
of control. The main focus of the analysis is to consider the model’s constitutional
conformity, with an emphasis on the achievement of constitutional objectives. Based
on a hermeneutic-legal interpretation, considering transparency and social control as
essential elements for achieving democratic and republican ideals, we seek to analyse
the activities undertaken for monetary policy management and mechanisms of
monitoring and social control, as well as the conformity of these instruments to the full
exercise of citizenship and to the effectiveness of the constitutional intention. For this,
its starting point is a brief discussion of the historical concept of money and the
importance of monetary policies and their relationship to the state and the law, which
have created the circumstances and conditionalities that guide monetary management
today. As paradigms for discussing the Brazilian model, the monetary management
systems of the USA, Germany, Japan and Chile are presented and discussed:
countries from different continents, distinct from each other, but representative of
developed economies able to provide critical comparative analysis to the Brazilian
system. Following this, by reconstructing the country's monetary management history,
for the purpose of understanding the origins of the current management model, an
analysis of its constitutional conformity is presented, confirming that the current
institutional structure is not adequately adapted to the 1998 Federal Constitution,
especially with regard to constitutional objectives and paradigms of transparency,
control and social participation. As a result, it is also shown that a model of transparent
monetary management with social control is presupposed under democratic and
republican principles, and this constitutional non-conformity also represents an
impediment to the full incorporation of fundamental constitutional objectives, hindering
the process of affirming and enacting fundamental rights. Finally, given the above,
there is a need for change in the institutional framework of monetary management with
a view to realising its constitutional adequacy and conformity. Likewise, such
assumptions are indispensable to avoid the deviation of monetary policy from the
public interest to the benefit of private interests. Some proposals are suggested for
inclusion in a draft Monetary Responsibility Law, which is needed to change these
institutional shortcomings that have been used repeatedly as a way of thwarting the
Brazilian democratic constitutional commitment. | en |
