The Archaeology of Interests in Financial Coloniality: Who does reproduce it in Brazil?

Abstract

This article investigates the contemporary mechanisms that reproduce financial coloniality in Brazil through a critical analysis of the actors, incentives, and structures that sustain the epistemic and material subordination of the national financial field. Drawing on the framework of the coloniality of knowledge and power, it develops an archaeology of interests to reveal how local agents, such as regulators, universities, the financial sector, and scientific production, internalize and operationalize exogenous logics, particularly through the uncritical adoption of international standards, such as IFRS, and the financialization of public spheres. The study proposes a decolonial agenda in finance based on the reterritorialization of knowledge, a critique of hegemonic validation standards, and the valorization of situated epistemologies. By challenging the limits of dominant financial thinking, it seeks to open space for practices and theories committed to social justice, cognitive autonomy, and structural transformation in peripheral contexts. Furthermore, by exploring the coloniality of knowledge and its impacts on financial theory and practice, the study highlights how global practices and perspectives often overlook local and context specific realities, such as those of Brazil. This perspective encourages the production of financial knowledge more closely aligned with the realities and needs of Global South countries, enabling a critical analysis of social and economic impacts. In addition, it promotes the development of a more inclusive and emancipatory vision, which is essential for the creation of policies and practices that foster a fairer and more equitable market.