a autoridade monetária é uma escolha dos legisladores em termos da produção da políticapública de responsabilidade daqueles órgãos, que em ambos os casos foi importante na busca da estabilidade de preços. A partir da Teoria Política Formal... This thesis analysis two legislative decision making process that created and reformed Bacen and CMN in 1964 and 1994, occasions of successful economic stabilization plans(respectively PAEG and Plano Real). The institutional form of the monetary authority represents a political choice to perform certain public policies, what was important to achieve price stabilization in both cases. A model based on Analytical Theory was build and it used primary data and bibliographical sources to test hypothesis. The model and its hypothesis considered general interests (stabilized prices) and particularistic interests (private
representation at the monetary authority and loans to agricultural activities). Results showed that the Executive Branch was important when initiate both legislative process, however, the Legislative Branch was important too, even during the Military Government initiated in april 1964. In the first case Executive and Legislative branches swap support, when Executive Branch conquered a new format to monetary authority and Parliament got private representation in the CMN and the building of the rural credit policy. In the second case, the
use of provisional decree (Medida Provisória) made results of stabilization process and CMN reform safer, what could coordinate Executive and Legislative branches in a different way and put the Parliament pro-reform. The thesis¿ results are important comparing two periods of Brazilian political system, which improves the knowledge about Executive-Legislative relations. Legislative instruments of Executive Branch and the management of uncertainty are central elements in this comparison. Besides, the thesis increases the knowledge about Brazilian Congress during the first year of Military Government, showing that for Bank Reform Parliament was important and could influence the institutional format of the monetary authority....