Descentralização e endividamento municipal: formas, limites e possibilidades [Decentralization and municipal indebtedness: modes, constraints, and possibilities]
Amaury Patrick Gremaud () (Universidade de São Paulo) Rudinei Toneto Jr () (Universidade de São Paulo)
Abstract
The objective of this article is to discuss alternatives to finance investments by municipalities. In general, current revenues are insufficient to finance large investments, what brings about the necessity of municipal indebtedness. These could assume different manners, according to the nature of the investment: if it is typically public or if it offers private return. For the first case, we discuss the possibilities of a municipal bond market and, for the second, we discuss project finance and the participation of the private sector.
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Article provided by Economics Department, Universidade Federal de Minas Gerais (Brazil) in its journal Nova Economia.
Volume (Year): 12 (2002) Issue (Month): 2 (July-December) Pages: 109-130 Download reference. The following formats are available: HTML,
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Find related papers by JEL classification: H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing