The legal discipline of the external debt in the 1980s: in the run-up to the 1995 constitutional reforms

• Grant number: 21/01272-0
• Support Opportunities: Scholarships in Brazil - Scientific Initiation
• Start date: October 01, 2021
• End date: September 30, 2022
• Field of knowledge: Applied Social Sciences - Law - Public Law
• Principal Investigator: Alessandro Serafin Octaviani Luis
• Grantee: Murilo Amadio Cipollone
• Host Institution: Faculdade de Direito (FD). Universidade de São Paulo (USP). São Paulo , SP, Brazil

Abstract

The research seeks to analyze and understand the influence of the Bretton-Woods institutions- institutions - specifically the IMF and the World Bank - as well as the structures of world capitalism, in articulation with the designs of the national elites, on the dilemmas and failures of the Brazilian economy, notably with regard to the process of renegotiation of the foreign debt in the 1980s and its necessary and functional legal discipline. It is understood, therefore, the way in which the renegotiation of the foreign debt in the 1980s was legally articulated is paradigmatic. The way in which the renegotiation of the foreign debt in the 1980s was legally articulated is paradigmatic for an understanding of its effects economic development of the country. For this very reason, the need to establish the between the legal discipline of the debt and the new "development primer" of the so-called Washington Consensus, the prelude to the Constitutional Reforms of 1995 and the transformations in the Constitutional Economic Order, the transformations in the Brazilian Constitutional Economic Order. To this end, we go back to the international premises of the Brazilian external debt, turning to a historical-economic analysis of the "golden age" of capitalism, the Bretton-Woods Institutions, and the expansion of financial capital. Furthermore, the research takes up the internal premises of indebtedness, in such a way that to recompose the historical economic frameworks of the 1970s and 1980s and to point out the and 1980s and, eventually, the II PND. Therefore, the research highlights the importance of understanding the understanding of the legal discipline, which translates political-economic choices and preferences of the choices and political-economic preferences of the country's decision-makers, lent to the external indebtedness of underdeveloped economies, so that, based on it, it is possible to think soberly about the path of development in peripheral capitalism. (AU)