Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments
This paper discusses trends in fiscal adjustment in Brazil since the 1990s, with particular emphasis on the strengthening of institutions for fiscal policymaking, and its effect on local government finances and their ability to invest in infrastructure building and upgrading. Although fiscal adjustm...
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| Format: | Policy Research Working Paper |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2006/01/6525937/fiscal-responsibility-legislation-fiscal-adjustment-case-brazilian-local-governments http://hdl.handle.net/10986/8792 |
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okr-10986-87922021-04-23T14:02:40Z Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments de Mello, Luiz ACCOUNTABILITY ACCOUNTING APPROPRIATIONS ASSET SALES BORROWING BUDGET EXECUTION CAPITAL MARKETS CAPITALS CENTRAL GOVERNMENTS CITIES COLLATERAL DEBT DEBT SERVICE DEBT SERVICING DEFICITS DISCLOSURE DISCLOSURE REQUIREMENTS ECONOMIC GROWTH ECONOMIC PERFORMANCE ELECTRICITY EXTERNALITIES FISCAL DECENTRALIZATION FISCAL MANAGEMENT FISCAL PERFORMANCE FISCAL POLICY FISCAL RESPONSIBILITY GOVERNMENT DEBT GOVERNMENT SPENDING HOUSING INCOME INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL CONSTRAINTS INSTITUTIONAL FRAMEWORK INSURANCE INTEREST RATES INTERGOVERNMENTAL TRANSFERS INVESTMENT SPENDING LAWS LEGISLATION LEVIES LOAN GUARANTEES LOCAL BUDGETS LOCAL GOVERNMENT LOCAL GOVERNMENT SPENDING LOCAL GOVERNMENTS MACROECONOMIC STABILITY MANDATES METROPOLITAN AREAS MUNICIPAL MUNICIPAL GOVERNMENTS MUNICIPAL LEVEL MUNICIPALITIES NATIONAL GOVERNMENTS PENSIONS PRIVATE SECTOR PRIVATE SECTOR INVESTMENT PRIVATIZATION PROVISIONING PROVISIONS PUBLIC PUBLIC DEBT PUBLIC EMPLOYMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC GOODS PUBLIC INVESTMENT PUBLIC OFFICIALS PUBLIC PROVISION PUBLIC RESOURCES PUBLIC SECTOR PUBLIC TRANSPORTATION REGIONAL GOVERNMENT REGIONAL GOVERNMENTS RETIREMENT REVENUE MOBILIZATION REVENUE SHARING ROADS SAVINGS SOCIAL EXPENDITURE SOCIAL SERVICES STATE GOVERNMENTS SUBNATIONAL GOVERNMENTS TAX TAX REVENUE TAX REVENUES TELECOMMUNICATIONS TRANSPORT TREASURY UNFUNDED MANDATES URBAN INFRASTRUCTURE URBAN TRANSPORTATION URBANIZATION WAGES This paper discusses trends in fiscal adjustment in Brazil since the 1990s, with particular emphasis on the strengthening of institutions for fiscal policymaking, and its effect on local government finances and their ability to invest in infrastructure building and upgrading. Although fiscal adjustment, which is ongoing, has taken a toll on the government's ability to finance much-needed infrastructure investment, it is not the only culprit. A lack of budget flexibility, against a backdrop of increasing downward rigidities in current spending, also constrains the government's ability to invest. The paper argues that regulatory uncertainty in many sectors, particularly water and sanitation, in which the municipalities play a leading role, has discouraged private sector investment and that the financing of infrastructure building and upgrading goes beyond the municipal level of government. Higher-level jurisdictions are responsible for financing investment in energy and transport infrastructure, for example. 2012-06-22T16:02:38Z 2012-06-22T16:02:38Z 2006-01 http://documents.worldbank.org/curated/en/2006/01/6525937/fiscal-responsibility-legislation-fiscal-adjustment-case-brazilian-local-governments http://hdl.handle.net/10986/8792 English Policy Research Working Paper; No. 3812 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Latin America & Caribbean Brazil |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCOUNTABILITY ACCOUNTING APPROPRIATIONS ASSET SALES BORROWING BUDGET EXECUTION CAPITAL MARKETS CAPITALS CENTRAL GOVERNMENTS CITIES COLLATERAL DEBT DEBT SERVICE DEBT SERVICING DEFICITS DISCLOSURE DISCLOSURE REQUIREMENTS ECONOMIC GROWTH ECONOMIC PERFORMANCE ELECTRICITY EXTERNALITIES FISCAL DECENTRALIZATION FISCAL MANAGEMENT FISCAL PERFORMANCE FISCAL POLICY FISCAL RESPONSIBILITY GOVERNMENT DEBT GOVERNMENT SPENDING HOUSING INCOME INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL CONSTRAINTS INSTITUTIONAL FRAMEWORK INSURANCE INTEREST RATES INTERGOVERNMENTAL TRANSFERS INVESTMENT SPENDING LAWS LEGISLATION LEVIES LOAN GUARANTEES LOCAL BUDGETS LOCAL GOVERNMENT LOCAL GOVERNMENT SPENDING LOCAL GOVERNMENTS MACROECONOMIC STABILITY MANDATES METROPOLITAN AREAS MUNICIPAL MUNICIPAL GOVERNMENTS MUNICIPAL LEVEL MUNICIPALITIES NATIONAL GOVERNMENTS PENSIONS PRIVATE SECTOR PRIVATE SECTOR INVESTMENT PRIVATIZATION PROVISIONING PROVISIONS PUBLIC PUBLIC DEBT PUBLIC EMPLOYMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC GOODS PUBLIC INVESTMENT PUBLIC OFFICIALS PUBLIC PROVISION PUBLIC RESOURCES PUBLIC SECTOR PUBLIC TRANSPORTATION REGIONAL GOVERNMENT REGIONAL GOVERNMENTS RETIREMENT REVENUE MOBILIZATION REVENUE SHARING ROADS SAVINGS SOCIAL EXPENDITURE SOCIAL SERVICES STATE GOVERNMENTS SUBNATIONAL GOVERNMENTS TAX TAX REVENUE TAX REVENUES TELECOMMUNICATIONS TRANSPORT TREASURY UNFUNDED MANDATES URBAN INFRASTRUCTURE URBAN TRANSPORTATION URBANIZATION WAGES |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING APPROPRIATIONS ASSET SALES BORROWING BUDGET EXECUTION CAPITAL MARKETS CAPITALS CENTRAL GOVERNMENTS CITIES COLLATERAL DEBT DEBT SERVICE DEBT SERVICING DEFICITS DISCLOSURE DISCLOSURE REQUIREMENTS ECONOMIC GROWTH ECONOMIC PERFORMANCE ELECTRICITY EXTERNALITIES FISCAL DECENTRALIZATION FISCAL MANAGEMENT FISCAL PERFORMANCE FISCAL POLICY FISCAL RESPONSIBILITY GOVERNMENT DEBT GOVERNMENT SPENDING HOUSING INCOME INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL CONSTRAINTS INSTITUTIONAL FRAMEWORK INSURANCE INTEREST RATES INTERGOVERNMENTAL TRANSFERS INVESTMENT SPENDING LAWS LEGISLATION LEVIES LOAN GUARANTEES LOCAL BUDGETS LOCAL GOVERNMENT LOCAL GOVERNMENT SPENDING LOCAL GOVERNMENTS MACROECONOMIC STABILITY MANDATES METROPOLITAN AREAS MUNICIPAL MUNICIPAL GOVERNMENTS MUNICIPAL LEVEL MUNICIPALITIES NATIONAL GOVERNMENTS PENSIONS PRIVATE SECTOR PRIVATE SECTOR INVESTMENT PRIVATIZATION PROVISIONING PROVISIONS PUBLIC PUBLIC DEBT PUBLIC EMPLOYMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC GOODS PUBLIC INVESTMENT PUBLIC OFFICIALS PUBLIC PROVISION PUBLIC RESOURCES PUBLIC SECTOR PUBLIC TRANSPORTATION REGIONAL GOVERNMENT REGIONAL GOVERNMENTS RETIREMENT REVENUE MOBILIZATION REVENUE SHARING ROADS SAVINGS SOCIAL EXPENDITURE SOCIAL SERVICES STATE GOVERNMENTS SUBNATIONAL GOVERNMENTS TAX TAX REVENUE TAX REVENUES TELECOMMUNICATIONS TRANSPORT TREASURY UNFUNDED MANDATES URBAN INFRASTRUCTURE URBAN TRANSPORTATION URBANIZATION WAGES de Mello, Luiz Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments |
| geographic_facet |
Latin America & Caribbean Brazil |
| relation |
Policy Research Working Paper; No. 3812 |
| description |
This paper discusses trends in fiscal adjustment in Brazil since the 1990s, with particular emphasis on the strengthening of institutions for fiscal policymaking, and its effect on local government finances and their ability to invest in infrastructure building and upgrading. Although fiscal adjustment, which is ongoing, has taken a toll on the government's ability to finance much-needed infrastructure investment, it is not the only culprit. A lack of budget flexibility, against a backdrop of increasing downward rigidities in current spending, also constrains the government's ability to invest. The paper argues that regulatory uncertainty in many sectors, particularly water and sanitation, in which the municipalities play a leading role, has discouraged private sector investment and that the financing of infrastructure building and upgrading goes beyond the municipal level of government. Higher-level jurisdictions are responsible for financing investment in energy and transport infrastructure, for example. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
de Mello, Luiz |
| author_facet |
de Mello, Luiz |
| author_sort |
de Mello, Luiz |
| title |
Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments |
| title_short |
Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments |
| title_full |
Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments |
| title_fullStr |
Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments |
| title_full_unstemmed |
Fiscal Responsibility Legislation and Fiscal Adjustment : The Case of Brazilian Local Governments |
| title_sort |
fiscal responsibility legislation and fiscal adjustment : the case of brazilian local governments |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2006/01/6525937/fiscal-responsibility-legislation-fiscal-adjustment-case-brazilian-local-governments http://hdl.handle.net/10986/8792 |
| _version_ |
1764405690757021696 |