The independence of the central bank and its role in the domination of financial capital over the State
The following work analyzes the role of the independence of the central bank in the relationship between the financial sector and the State at a theoretical level. In order to accomplish this task, the nature of the central bank is considered: the public institution, on the one hand, and the represe...
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| Format: | Article |
| Language: | Spanish |
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Facultad Latinoamericana de Ciencias Sociales, Sede Ecuador
2020-01-01
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| Series: | Íconos |
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| Online Access: | https://revistas.flacsoandes.edu.ec/iconos/article/view/3901 |
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| author | Matari Pierre Manigat |
| author_facet | Matari Pierre Manigat |
| author_sort | Matari Pierre Manigat |
| collection | DOAJ |
| description | The following work analyzes the role of the independence of the central bank in the relationship between the financial sector and the State at a theoretical level. In order to accomplish this task, the nature of the central bank is considered: the public institution, on the one hand, and the representative of the financial class, on the other hand. The duality determines the place of the bank in the machine of the State, as well as its relationship with the public Hacienda (or treasury). From a methodological focus that combines economy and political sociology, the links between the central bank and the public Hacienda that con-form the organizational structure of the State, are highlighted. Its characterization is necessary in order to analyze the role of the State in the reproduction of a regime of accumulation. The “big crises” –or the crises of regimes of accumulation– determine the fundamental changes in the organizational structure of the State. The independence of the central bank became the litmus test for the reconfiguration of the structure of capitalism today. This is where the main conclusion of this work stems from: the organiza-tional structure associated with the independence of the central bank operates like a transmission belt of financial domination in the State and the contemporary political arena. |
| format | Article |
| id | doaj-art-568d0980199f4eed9363fb8b0dbf0949 |
| institution | Kabale University |
| issn | 1390-1249 2224-6983 |
| language | Spanish |
| publishDate | 2020-01-01 |
| publisher | Facultad Latinoamericana de Ciencias Sociales, Sede Ecuador |
| record_format | Article |
| series | Íconos |
| spelling | doaj-art-568d0980199f4eed9363fb8b0dbf09492025-02-02T14:06:41ZspaFacultad Latinoamericana de Ciencias Sociales, Sede EcuadorÍconos1390-12492224-69832020-01-012466213229https://doi.org/10.17141/iconos.66.2020.3901The independence of the central bank and its role in the domination of financial capital over the StateMatari Pierre Manigat0Instituto de Investigaciones Sociales, UNAM, MéxicoThe following work analyzes the role of the independence of the central bank in the relationship between the financial sector and the State at a theoretical level. In order to accomplish this task, the nature of the central bank is considered: the public institution, on the one hand, and the representative of the financial class, on the other hand. The duality determines the place of the bank in the machine of the State, as well as its relationship with the public Hacienda (or treasury). From a methodological focus that combines economy and political sociology, the links between the central bank and the public Hacienda that con-form the organizational structure of the State, are highlighted. Its characterization is necessary in order to analyze the role of the State in the reproduction of a regime of accumulation. The “big crises” –or the crises of regimes of accumulation– determine the fundamental changes in the organizational structure of the State. The independence of the central bank became the litmus test for the reconfiguration of the structure of capitalism today. This is where the main conclusion of this work stems from: the organiza-tional structure associated with the independence of the central bank operates like a transmission belt of financial domination in the State and the contemporary political arena.https://revistas.flacsoandes.edu.ec/iconos/article/view/3901central bankpolitical arenafinancial capitalstatepublic haciendamonetary policy |
| spellingShingle | Matari Pierre Manigat The independence of the central bank and its role in the domination of financial capital over the State Íconos central bank political arena financial capital state public hacienda monetary policy |
| title | The independence of the central bank and its role in the domination of financial capital over the State |
| title_full | The independence of the central bank and its role in the domination of financial capital over the State |
| title_fullStr | The independence of the central bank and its role in the domination of financial capital over the State |
| title_full_unstemmed | The independence of the central bank and its role in the domination of financial capital over the State |
| title_short | The independence of the central bank and its role in the domination of financial capital over the State |
| title_sort | independence of the central bank and its role in the domination of financial capital over the state |
| topic | central bank political arena financial capital state public hacienda monetary policy |
| url | https://revistas.flacsoandes.edu.ec/iconos/article/view/3901 |
| work_keys_str_mv | AT mataripierremanigat theindependenceofthecentralbankanditsroleinthedominationoffinancialcapitaloverthestate AT mataripierremanigat independenceofthecentralbankanditsroleinthedominationoffinancialcapitaloverthestate |