English, Article, Journal or magazine article edition: IS THE BRAZILIAN FISCAL RESPONSIBILITY LAW (LRF) REALLY BINDING? EVIDENCE FROM STATE-LEVEL GOVERNMENT Rafael Barroso; Romero Rocha

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Bookmark: http://trove.nla.gov.au/version/124872
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • IS THE BRAZILIAN FISCAL RESPONSIBILITY LAW (LRF) REALLY BINDING? EVIDENCE FROM STATE-LEVEL GOVERNMENT
Author
  • Rafael Barroso
  • Romero Rocha
Physical Description
  • preprint
Notes
  • The adoption of a set of fiscal and budgetary institutions for a better macroeconomic performance has been gathering support in various governments. This article states that Institutions matters and adopts the New Institutional Economics framework in its approach. After a brief review of the literature and introduction to the Brazilian case, it poses the following question: Is the LRF really binding in restraining state's indebtedness? The institutional theory, which backed up the formulation of the LRF, would provide a positive answer to this question. This article therefore investigates if this relation is sustained empirically. For this purpose an econometric model with panel data on state-level government is estimated including a dummy variable for the adoption of the LRF and accounting for other explanatory variables as well.
  • RePEc:anp:en2004:024
Language
  • English
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