years of the Republic would communicate well with his work of Machado de Assis newspapers articles as per his selection of chronicles under the title "O olhar obliquo do acionista" ( "Shareholders oblique look", as literal translation). Foreign trade and multinational companies Franco worked in collaboration with Winston Fritsch in a series of projects supported by the OECD Development Center. One publication was Foreign direct investment and industrial restructuring: issues and trends (Development Centre Studies, OECD Development Centre, OECD, Paris, 1991), another was "Efficient Industrialization in a Technologically Dependent Economy: The Current Brazilian Debate" in Competition and Economic Development Committee of Competition Law and Policy, OECD, 1991. In sequence, Franco and Fritsch worked in two projects directed by Gerry Helleiner for WIDER (World Institute for Development Economics Research) of the United Nations University during 1990 and 1991. The first was on the influence of trade orientation on development models and was published as "Foreign Direct investment and patterns of trade and industrialization in developing countries: notes with reference to the Brazilian experience" in G. K. Helleiner (org.) Trade Policy, Industrialization and Development: a reconsideration. (Oxford, Clarendon Press for UNU-Wider, 1992 ). The second, on the same issues but focused on trade and industrial policies was published as "Import repression, productivity slowdown, and manufactured export dynamism: Brazil,1975-1990" in Gerry Helleiner (org.) Trade policy and industrialization in turbulent times (London: Routledge for UNU-Wider, 1993, ). Franco and Fritsch also worked in projects for UNCTAD and ECLA, and published in the academic circuit on these same issues. Franco would return to these themes only after 1995 when, as deputy governor of the Central Bank responsible for international affairs organized a Census on foreign direct investment into Brazil that has been conducted and published each five years since 1995. Public service Between 1993 and 1999, Franco was active in public service. He started in May 1993 as Deputy Secretary of Economic Policy at the Finance Ministry up to October 1993 when he moved to the Central Bank of Brazil in the position of Deputy Governor responsible for International Affairs, position he occupied until 1997, and only interrupted by a brief tenure as governor of the Central Bank of Brazil between December 1994 and January 1995. In August 20th, 1997 he was confirmed governor of the Central Bank of Brazil, until leaving on January 9, 1999, and briefly returning in March 1999 to transfer his