Fiscal Space of Brazilian States
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| Format: | Artículo científico |
| Language: | en |
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Universidade de Santiago de Compostela
2013
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| _version_ | 1876469083743977472 |
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| author | Fabiano Bastos |
| author_facet | Fabiano Bastos |
| contents | Fiscal Space of Brazilian States Fabiano Bastos Emilio Pineda Estudios Territoriales Fiscal Space Debt Dynamics State Finance Fiscal Sustainability Subnational Borrowing We estimate the fiscal space of Brazilian States defined as the difference between a State’s actual debt and the theoretical debt limit implied by the historical behavior of its policymakers. We estimate fiscal reaction functions and debt limits using publicly available data between 2000 and 2011 for the 26 Brazilian States and the Federal District. The results suggest that, after a decade of fiscal consolidation, a number of States have fiscal space but there remains significant heterogeneity across States. Going forward, enhancing the role of market incentives and strengtheningrules-based approaches governing subnational debt build-up would contribute to a prudent and effective use of existing fiscal space. 2013 artículo científico 1697-6223 https://www.redalyc.org/articulo.oa?id=50430343003 en http://www.redalyc.org/revista.oa?id=504 Urban Public Economics Review application/pdf Universidade de Santiago de Compostela Urban Public Economics Review (España) Num.19 |
| format | Artículo científico |
| id | redalyc_50430343003 |
| institution | Redalyc |
| language | en |
| publishDate | 2013 |
| publisher | Universidade de Santiago de Compostela |
| spellingShingle | Fiscal Space of Brazilian States Fabiano Bastos Estudios Territoriales Fiscal Space Debt Dynamics State Finance Fiscal Sustainability Subnational Borrowing Fiscal Space of Brazilian States Fabiano Bastos Emilio Pineda Estudios Territoriales Fiscal Space Debt Dynamics State Finance Fiscal Sustainability Subnational Borrowing We estimate the fiscal space of Brazilian States defined as the difference between a State’s actual debt and the theoretical debt limit implied by the historical behavior of its policymakers. We estimate fiscal reaction functions and debt limits using publicly available data between 2000 and 2011 for the 26 Brazilian States and the Federal District. The results suggest that, after a decade of fiscal consolidation, a number of States have fiscal space but there remains significant heterogeneity across States. Going forward, enhancing the role of market incentives and strengtheningrules-based approaches governing subnational debt build-up would contribute to a prudent and effective use of existing fiscal space. 2013 artículo científico 1697-6223 https://www.redalyc.org/articulo.oa?id=50430343003 en http://www.redalyc.org/revista.oa?id=504 Urban Public Economics Review application/pdf Universidade de Santiago de Compostela Urban Public Economics Review (España) Num.19 |
| title | Fiscal Space of Brazilian States |
| topic | Estudios Territoriales Fiscal Space Debt Dynamics State Finance Fiscal Sustainability Subnational Borrowing |
| url | https://www.redalyc.org/articulo.oa?id=50430343003 |