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Fiscal Space and Public Sector Investments in Infrastructure: A Brazilian Case-Study

  • José Roberto Rodrigues Afonso
  • Erika Amorim Araújo
  • Geraldo Biasoto Júnior
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    The Brazilian experience is of particular interest as a case study into the fiscal scopefor public sector investments, especially in infrastructure. Brazil has one of thehighest tax burdens in the world and, at the same time, the public sector has beenregistering a historic low in investment, even lower than the average levels seenelsewhere in Latin America. The idea of crating adequate fiscal space to allow forincreased investment has been largely ignored at national level. The little thatnational debate has advanced so far on this issue has only produced at best adefinition of the challenge. In this context, the paper does not intend to provide aready-made solution for such large and varied challenges. Instead, it hopes tocontribute in a small way to the development of debate, starting by raising andsystemizing information and by pointing out possible alternatives, in a preliminaryand perhaps somewhat provocative manner.

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    Paper provided by Instituto de Pesquisa Econômica Aplicada - IPEA in its series Discussion Papers with number 1141.

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    Length: 47 pages
    Date of creation: Dec 2005
    Date of revision:
    Handle: RePEc:ipe:ipetds:1141
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    1. Fabrizio Balassone & Daniele Franco, 2000. "Public investment, the Stability Pact and the ‘golden rule’," Fiscal Studies, Institute for Fiscal Studies, vol. 21(2), pages 207-229, June.
    2. Márcio Gomes Pinto Garcia & Roberto Rigobon, 2004. "A Risk Management Approach to Emerging Market’s Sovereign Debt Sustainability with an Application to Brazilian Data," Textos para discussão 484, Department of Economics PUC-Rio (Brazil).
    3. Seroa da Motta, Ronaldo & Moreira, Ajax, 2006. "Efficiency and regulation in the sanitation sector in Brazil," Utilities Policy, Elsevier, vol. 14(3), pages 185-195, September.
    4. Marco Buti & Sylvester Eijffinger & Daniele Franco, 2003. "Revisiting the Stability and Growth Pact: grand design or internal adjustment?," European Economy - Economic Papers 180, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    5. Buiter, Willem H, 2001. "Notes on 'A Code for Fiscal Stability.'," Oxford Economic Papers, Oxford University Press, vol. 53(1), pages 1-19, January.
    6. William Easterly & Sergio Rebelo, 1993. "Fiscal Policy and Economic Growth: An Empirical Investigation," NBER Working Papers 4499, National Bureau of Economic Research, Inc.
    7. Marco Buti & Gabriele Giudice, 2002. "Maastricht's Fiscal Rules at Ten: An Assessment," Journal of Common Market Studies, Wiley Blackwell, vol. 40(5), pages 823-848, December.
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