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Macroeconomic management and the division of powers in Brazil : perspectives for the nineties

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  • Bomfim, Antulio N.
  • Shah, Anwar

Abstract

The federal authority for macroeconomic management in Brazil has experienced a profound change as a result of the institutional changes that culminated with the promulgation of a new Federal Constitution in October of 1988. This paper examines the implications of the new fiscal arrangements for the exercise of macroeconomic policies by the federal government. It examines how recent changes in the division of powers among federal, state, and local governments in Brazil have affected the conditions for macroeconomic management in that country. This examination gains an added significance given that the erratic character of macroeconomic performance in Brazil has often been blamed on macroeconomic mismanagement. It focuses on how federal control of the policy variables has been affected by the latest development in Brazilian institutions.

Suggested Citation

  • Bomfim, Antulio N. & Shah, Anwar, 1991. "Macroeconomic management and the division of powers in Brazil : perspectives for the nineties," Policy Research Working Paper Series 567, The World Bank.
    • Handle: RePEc:wbk:wbrwps:567
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    References listed on IDEAS

    as
    1. Julio H. G. Olivera, 1967. "Money, prices and fiscal lags: a note on the dynamics of inflation," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 20(82), pages 258-267.
    2. Julio H. G. Olivera, 1967. "Money, prices and fiscal lags: a note on the dynamics of inflation," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 20(82), pages 258-267.
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    Cited by:

    1. Andres Velasco, 1999. "A Model of Endogenous Fiscal Deficits and Delayed Fiscal Reforms," NBER Chapters, in: Fiscal Institutions and Fiscal Performance, pages 37-58, National Bureau of Economic Research, Inc.
    2. Shah, Anwar, 1991. "Perspectives on the design of intergovernmental fiscal relations," Policy Research Working Paper Series 726, The World Bank.
    3. Celina Souza, 1996. "Redemocratization and Decentralization in Brazil: The Strength of the Member States," Development and Change, International Institute of Social Studies, vol. 27(3), pages 529-555, July.
    4. Miral, Emmanuel Jr., 2017. "Federalism: Prospects for the Philippines," Discussion Papers DP 2017-29, Philippine Institute for Development Studies.

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