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Urban development financing

Author

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  • Fernando Rezende

Abstract

This paper deals with a controversial aspect of the Brazilian public policies: theway urban investment and the provision of urban services are financed. The failure of patsolutions, based on a highly centralized decision-making process of channeling budgetaryresources and forced savings to state and local governments, led to a situation in which financialdifficulties became one of the main reasons of the deteriorating urban infrastructureand urban services in most of the major Brazilian cities. Against this background the paperargues for a through revision of the way and means of urban development financing, basedon recommendations of pooling available resources, implementing professional managementand moving toward better intergovernmental coordination of urban policies. Confidencein the newer rules, and in its maintenance over time, is also emphasized as an importantrequisite for attracting private capital to important areas, such as sanitation, transportationand housing. JEL Classification: R11; R58; O23.

Suggested Citation

  • Fernando Rezende, 1997. "Urban development financing," Brazilian Journal of Political Economy, Center of Political Economy, vol. 17(4), pages 578-601.
    • Handle: RePEc:ekm:repojs:v:17:y:1997:i:4:p:578-601:id:1185
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    More about this item

    Keywords

    Urbanization; economic development; public expenditure;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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