The Institutional pillars of the foreign exchange policy and industrialization in Brazil in the 1930s.
The 1930s constitute one milestone in the Brazilian economic development, as the accelerated industrialization process has started and became the dominant domestic policy. This paper reviews this period focusing on the institutional changes restructuring exchange transactions, to curb financial flows and balance external payments.
JEL Classification: N1; N26.
Keywords: Brazilian economy balance of payment currency hedging import substitution process