Internacionalização brasileira e Instrução 113 da SUMOC

Abstract

With reference to the standards of Brazilian capitalist development in the 1950s, our objective is to show the disciplinary system to foreign direct investment (fdi) that originated the Instruction 113 of the Superintendência da Moeda e do Crédito (Sumoc). The analytical axis is based in the main lines of continuity and in the inherent inflexion to the internal logic of regulatory instruments to international capital at this stage. Such study was the result of research of laws, decrees, orders and exchange actions which are generally the institutional framework of the period. Our conclusion was that although there are continuities between Vargas and Kubitschek regarding to the conditions for imported capital goods without exchange cover in the form of fdi, the selection criteria and essentiality mark a fundamental break in the distinct forms of association with the international capital between the two governments.

Keywords

• economic development
• exchange rate policy
• direct foreign investment
• Instruction 113