000			02231nam a2200337 a 4500
005			20181210070739.0
007			cr |||||||||||
008			060112s2006 dcu sb i000 0 eng
010			_a 2005705506
040			_aDLC _cDLC _dBD-DhBPA
050	0	0	_aHG3881.5.W57
082			_a352.4216 _bMEF 2006
100	1		_aMello, Luiz de. _9108007
245	1	0	_aFiscal responsibility legislation and fiscal adjustment _bthe case of Brazilian local governments / _cLuiz de Mello.
260			_aWashington, D.C. : _bWorld Bank, _c2006
300			_a23 p. ; _c23 cm.
490	1		_aPolicy research working paper ; _v3812
500			_aTitle from PDF file as viewed on 1/12/2006.
504			_aIncludes bibliographical references.
520	3		_a"This paper discusses trends in fiscal adjustment in Brazil since the 1990s, with particular emphasis on the strengthening of institutions for fiscal policymaking, and its effect on local government finances and their ability to invest in infrastructure building and upgrading. Although fiscal adjustment, which is ongoing, has taken a toll on the government's ability to finance much-needed infrastructure investment, it is not the only culprit. A lack of budget flexibility, against a backdrop of increasing downward rigidities in current spending, also constrains the government's ability to invest. The paper argues that regulatory uncertainty in many sectors, particularly water and sanitation, in which the municipalities play a leading role, has discouraged private sector investment and that the financing of infrastructure building and upgrading goes beyond the municipal level of government. Higher-level jurisdictions are responsible for financing investment in energy and transport infrastructure, for example. "--World Bank web site.
530			_aAlso available in print.
538			_aSystem requirements: Adobe Acrobat Reader.
538			_aMode of access: World Wide Web.
590			_aZahid
650		0	_aMunicipal finance _zBrazil. _9108008
650		0	_aLocal finance _zBrazil. _9108009
650		0	_aFiscal policy _zBrazil. _9108010
710	2		_aWorld Bank. _9108011
830		0	_aPolicy research working papers (Online) ; _v3812. _9108012
942			_2ddc _cBK
999			_c37559 _d37559