The work is situated in the field of policy analysis, with the main focus being on the implementation phase of the public policy cycle. The research is based on the analysis of the political-administrative subsystems. The central objective of this dissertation is to understand how national and international actors affect the development of public policy in the implementation stage. The dissertation analyzes three Public Policy Programs financed by the International Bank for Reconstruction and Development (IBRD / World Bank) and the Inter-American Development Bank (IDB), with the Government of the State of Rio de Janeiro, between 2008 and 2014, when 20 operations were approved totalizing approximately 9.05 billion. Among these operations are the Programa de Renovação e Fortalecimento da Gestão Pública (Pro-Gestão I), o Programa de Fortalecimento da Gestão do Setor Público e do Desenvolvimento Territorial Integrado – Rio Metrópole (Pró-Gestão II) e o Programa de Inclusão Social e Oportunidades para os Jovens do Estado do Rio de Janeiro (Caminho Melhor Jovem), this research s objects of study. The methodology is grounded on the participant s observation of the programs, the political-administrative subsystems, the program documents and, finally, interviews with public managers and bank specialists. The analysis of the results obtained during the implementation stage identifies evidences on (i) the technical influence of international actors, (ii) the political influence of national actors, and (iii) the different performances of the Programs.