New book describes creation and structuring of Brazilian Securities and Exchange Commission (CVM)

Book presents backgrounds of CVM’s first five presidents and interviews with these people, who were responsible for creating commission and “inventing” the Brazilian financial markets
18 August 2020
New book describes creation and structuring of Brazilian Securities and Exchange Commission (CVM)

FGV Press has just launched “The Invention of the Markets: The Formation of the Brazilian Securities and Exchange Commission (CVM), According to Its First Presidents (1976-1988).” In this book, authors Izabel Nuñez and Paulo Augusto Franco reveal the creation and structuring of CVM from the perspectives of its first five presidents, through interviews conducted in 2017 and 2018 with Roberto Teixeira da Costa, Jorge Hilário Gouvêa Vieira, Adroaldo Moura da Silva, Victorio Fernando Bhering Cabral and Luís Octavio Carvalho da Motta Veiga.

Rather than just presenting this story in a linear and ordered version, the authors explore the meanings perceived by the interviewees and their biographical narratives, together with the concrete experiences they used in the process of fostering the equity markets in Brazil.

The Brazilian Securities and Exchange Commission (CVM) was created and strengthened at a time when Brazil’s conservative modernization reached a high degree of international economic liberalization and the country’s “economic miracle” failed. The book also sheds light on the social backgrounds of the interviewees, revealing their family connections, friendships, education abroad (especially in the United States) and private sector activities.

As well as the history of the institution itself, the book presents contributions to the history of Brazilian economic and political thought, while emphasizing major social processes, in search of different perspectives of broad concepts like the “markets” and the “right.”

The book is available in e-book format on FGV Press’ website, Amazon, iBooks and Google Play. For more information about it, click here.


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