The solvency of the municipal government of Ceará in the period 2002-2008 / A solvência das administrações públicas municipais cearenses no período 2002-2008

AUTOR(ES)

Silvana Maria Braga de Souza da Silva

DATA DE PUBLICAÇÃO

2009

RESUMO

Considering that the intertemporal budget constraint of the government is fulfilled, this work examines the long-run solvency of the public accounts of the municipalities of Ceara following Hamilton and Flavin (1986), Levin et al. (2002) and Im, Pesaran, and Shin (2003). If an administration does not use a Ponzi game it is considered solvent if the budget deficit has a stationary path. As an empirical exercise, two unit root tests in panel are used and the period of analysis covers the years 2002 to 2008. It appears that the municipalities governiments in Ceara are solvents, although an analysis for eight macro-regions has indicated that in two of them the fiscal policy is unsustainable. Finally, the condition of insolvency does not seem to be determined by economy size, since the solvency appears to be associated with political affinity between the municipalities and the larger spheres of government.

ASSUNTO(S)

solvency solvência ciencias sociais aplicadas intertemporal budget constraint unit root restrição orçamentária intertemporal raiz unitária

Documentos Relacionados

• O ciclo dos imóveis e o crescimento econômico nos Estados Unidos 2002-2008
• Inserção comercial externa e doença holandesa no Brasil no período recente (2002-2008)
• A evolução do petismo (2002-2008)
• A informatização das administrações públicas municipais do estado de são paulo
• ARRANJO PRODUTIVO LOCAL COMO INSTRUMENTO DE POLÍTICA NO DESENVOLVIMENTO DO ESTADO DE GOIÁS (2002-2008)