Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States

Detalhes bibliográficos
Autor(a) principal: Tabosa, Francisco José Silva
Data de Publicação: 2016
Outros Autores: Ferreira, Roberto Tatiwa, Simonassi, Andrei Gomes, Khan, Ahmad Saeed, Tomaz, Daniel
Tipo de documento: Artigo
Idioma: por
Título da fonte: Economia Aplicada
Texto Completo: https://www.revistas.usp.br/ecoa/article/view/111678
Resumo: The study proposes an investigation into the ability of the Brazilian states to keep sustainable the trajectory of its public debt that, in spite of the Fiscal Restructuration Proposals, as the Law 9.496/97 and the Law of Fiscal Responsibility, increased between 2006 and 2011. The methodology adapted the fiscal reaction function of Bohn (2007) to a panel data structure and includes the possibility of threshold effects, such as in Hansen (1999). Thus, the reactions by the states with higher levels of debt were allowed be different from the others. The results showed that, as a rule, there is no active fiscal policy of the states in terms of generating primary surplus against the increase of the public debt.
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spelling Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian StatesReação fiscal ao aumento da dívida pública: uma análise para os estados brasileirosFiscal ReactionBrazilian StatesSolvencyReação FiscalEstados BrasileirosSolvênciaThe study proposes an investigation into the ability of the Brazilian states to keep sustainable the trajectory of its public debt that, in spite of the Fiscal Restructuration Proposals, as the Law 9.496/97 and the Law of Fiscal Responsibility, increased between 2006 and 2011. The methodology adapted the fiscal reaction function of Bohn (2007) to a panel data structure and includes the possibility of threshold effects, such as in Hansen (1999). Thus, the reactions by the states with higher levels of debt were allowed be different from the others. The results showed that, as a rule, there is no active fiscal policy of the states in terms of generating primary surplus against the increase of the public debt.O estudo propõe uma investigação acerca da capacidade dos brasileiros em manter uma trajetória sustentável da dívida pública que, a despeito das propostas de Reestruturação Fiscal e Financeira (Lei 9.496/97) e Lei de Responsabilidade Fiscal (L.C.101/2000), aumentou sobremaneira entre 2006 a 2011. Para tanto, adapta-se a função de reação fiscal de a uma estrutura de dados em painel, bem como se inclui a possibilidade de não linearidades por meio de efeitos limiares, como em Hansen (1999). Desse modo, permite-se que as reações por parte das unidades federativas com maiores níveis de dívidas sejam diferentes das demais. Os resultados mostraram que, em regra, não há uma política fiscal estadual ativa de geração de superávit primário ao aumento da dívida públicaUniversidade de São Paulo, FEA-RP/USP2016-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/11167810.11606/1413-8050/ea134918Economia Aplicada; Vol. 20 No. 1 (2016); 57-71Economia Aplicada; Vol. 20 Núm. 1 (2016); 57-71Economia Aplicada; v. 20 n. 1 (2016); 57-711980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPporhttps://www.revistas.usp.br/ecoa/article/view/111678/109853Copyright (c) 2016 Economia Aplicadainfo:eu-repo/semantics/openAccessTabosa, Francisco José SilvaFerreira, Roberto TatiwaSimonassi, Andrei GomesKhan, Ahmad SaeedTomaz, Daniel2020-08-14T23:23:04Zoai:revistas.usp.br:article/111678Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-09-13T12:17:05.108220Economia Aplicada - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
Reação fiscal ao aumento da dívida pública: uma análise para os estados brasileiros
title Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
spellingShingle Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
Tabosa, Francisco José Silva
Fiscal Reaction
Brazilian States
Solvency
Reação Fiscal
Estados Brasileiros
Solvência
title_short Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
title_full Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
title_fullStr Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
title_full_unstemmed Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
title_sort Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
author Tabosa, Francisco José Silva
author_facet Tabosa, Francisco José Silva
Ferreira, Roberto Tatiwa
Simonassi, Andrei Gomes
Khan, Ahmad Saeed
Tomaz, Daniel
author_role author
author2 Ferreira, Roberto Tatiwa
Simonassi, Andrei Gomes
Khan, Ahmad Saeed
Tomaz, Daniel
author2_role author
author
author
author
dc.contributor.author.fl_str_mv Tabosa, Francisco José Silva
Ferreira, Roberto Tatiwa
Simonassi, Andrei Gomes
Khan, Ahmad Saeed
Tomaz, Daniel
dc.subject.por.fl_str_mv Fiscal Reaction
Brazilian States
Solvency
Reação Fiscal
Estados Brasileiros
Solvência
topic Fiscal Reaction
Brazilian States
Solvency
Reação Fiscal
Estados Brasileiros
Solvência
description The study proposes an investigation into the ability of the Brazilian states to keep sustainable the trajectory of its public debt that, in spite of the Fiscal Restructuration Proposals, as the Law 9.496/97 and the Law of Fiscal Responsibility, increased between 2006 and 2011. The methodology adapted the fiscal reaction function of Bohn (2007) to a panel data structure and includes the possibility of threshold effects, such as in Hansen (1999). Thus, the reactions by the states with higher levels of debt were allowed be different from the others. The results showed that, as a rule, there is no active fiscal policy of the states in terms of generating primary surplus against the increase of the public debt.
publishDate 2016
dc.date.none.fl_str_mv 2016-03-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/111678
10.11606/1413-8050/ea134918
url https://www.revistas.usp.br/ecoa/article/view/111678
identifier_str_mv 10.11606/1413-8050/ea134918
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/111678/109853
dc.rights.driver.fl_str_mv Copyright (c) 2016 Economia Aplicada
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2016 Economia Aplicada
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
dc.source.none.fl_str_mv Economia Aplicada; Vol. 20 No. 1 (2016); 57-71
Economia Aplicada; Vol. 20 Núm. 1 (2016); 57-71
Economia Aplicada; v. 20 n. 1 (2016); 57-71
1980-5330
1413-8050
reponame:Economia Aplicada
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Economia Aplicada
collection Economia Aplicada
repository.name.fl_str_mv Economia Aplicada - Universidade de São Paulo (USP)
repository.mail.fl_str_mv ||revecap@usp.br
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