Interdependencias macroeconómicas en el Mercosur. / Afonso S. Bevilaqua

Público ISBD Título : Interdependencias macroeconómicas en el Mercosur. Tipo de documento: texto impreso Autores: Afonso S. Bevilaqua ; Marcelo Catena ; Ernesto Talvi Editorial: Montevideo : CERES Fecha de publicación: 1999 Colección: Informede Investigación. Número de páginas: v.11 Idioma : Inglés Temas: ANALISIS ECONOMICO COMERCIO EXTERIOR CUADROS ESTADISTICOS MERCOSUR Clasificación: 330.1 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=15976 Interdependencias macroeconómicas en el Mercosur. [texto impreso] / Afonso S. Bevilaqua ; Marcelo Catena ; Ernesto Talvi . - Montevideo : CERES, 1999 . - v.11. - (Informede Investigación.) . Idioma : Inglés Temas: ANALISIS ECONOMICO COMERCIO EXTERIOR CUADROS ESTADISTICOS MERCOSUR Clasificación: 330.1 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=15976

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006963	330.1 CERi v.11	Libro	Colección	Biblioteca Central	Disponible

Research Network Working Paper, 424. The structure of public sector debt in Brazil / Afonso S. Bevilaqua 

Público ISBD Título de serie: Research Network Working Paper, 424 Título : The structure of public sector debt in Brazil Tipo de documento: texto impreso Autores: Afonso S. Bevilaqua ; Dionísio Dias Carneiro ; Márcio Gomes Pinto García ; Rogério Furquim Ladeira Werneck Editorial: Washington : Banco Interamericano de Desarrollo Fecha de publicación: 2001 Número de páginas: 71 p Idioma : Inglés Temas: BANCO INTERAMERICANO DE DESARROLLO BRASIL CONDICIONES ECONOMICAS DEUDA PUBLICA SECTOR PUBLICO Clasificación: 338.9 Resumen: The literature on the end of remarkable inflationary processes (Bresciani-Turroni, 1937; Sargent, 1986) calls our attention to one of the favorable aspects of hyperinflations: the fact that high inflation destroys old debts. Because of the central role fiscal deficits play in chronic inflation, the alleviation of the debt burden helps stabilization, and the fact that a large portion of government debt may disappear without the undesirable reputation costs of explicit debt repudiation is even better. In the Brazilian inflationary experience, most of this potentially favorable effect of high inflation on debt has been neutralized by indexation. In December 1994, officially recognized total federal domestic debt was 19.9% of GDP. The fast growth of public debt in the first four years of stabilization has offset the benefits of the inflation acceleration, which occurred shortly before the onset of monetary reform in July, 1994. By December 1998, this figure was 44.8% of GDP. En línea: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=788052 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=73028 Research Network Working Paper, 424. The structure of public sector debt in Brazil [texto impreso] / Afonso S. Bevilaqua ; Dionísio Dias Carneiro ; Márcio Gomes Pinto García ; Rogério Furquim Ladeira Werneck . - Washington : Banco Interamericano de Desarrollo, 2001 . - 71 p. Idioma : Inglés Temas: BANCO INTERAMERICANO DE DESARROLLO BRASIL CONDICIONES ECONOMICAS DEUDA PUBLICA SECTOR PUBLICO Clasificación: 338.9 Resumen: The literature on the end of remarkable inflationary processes (Bresciani-Turroni, 1937; Sargent, 1986) calls our attention to one of the favorable aspects of hyperinflations: the fact that high inflation destroys old debts. Because of the central role fiscal deficits play in chronic inflation, the alleviation of the debt burden helps stabilization, and the fact that a large portion of government debt may disappear without the undesirable reputation costs of explicit debt repudiation is even better. In the Brazilian inflationary experience, most of this potentially favorable effect of high inflation on debt has been neutralized by indexation. In December 1994, officially recognized total federal domestic debt was 19.9% of GDP. The fast growth of public debt in the first four years of stabilization has offset the benefits of the inflation acceleration, which occurred shortly before the onset of monetary reform in July, 1994. By December 1998, this figure was 44.8% of GDP. En línea: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=788052 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=73028

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038410	338.9 RES v.424	Libro	Colección	Biblioteca Central	Disponible

Research Network Working Paper, 441. State goverment bailouts in Brazil / Afonso S. Bevilaqua 

Público ISBD Título de serie: Research Network Working Paper, 441 Título : State goverment bailouts in Brazil Tipo de documento: texto impreso Autores: Afonso S. Bevilaqua Editorial: Washington : Banco Interamericano de Desarrollo Fecha de publicación: 2002 Número de páginas: 58 p Idioma : Inglés Temas: BANCO INTERAMERICANO DE DESARROLLO BRASIL FINANZAS PUBLICAS GOBIERNO Clasificación: 338.9 Resumen: As a result of the consolidation of democracy after the end of the military regime in the mid-1980s, Brazil has gone through a period of remarkable decentralization both in fiscal and political terms. The move towards decentralized management and control of public finances has been followed by a series of bailouts of state governments by the federal government. The lack of effective control on borrowing, coupled with reputational effects originating from these repeated bailout operations, reduced fiscal discipline and created an explosive accumulation of debts in Brazilian states during the last decade. The main purpose of this paper is to assess the determinants of state debt bailouts in Brazil and their relationship with states’ fiscal discipline during the 1990s. After providing a brief overview of intergovernmental fiscal relationships in the Brazilian economy, the paper describes state debt developments from the mid-1980s on, with special emphasis on the 1989, 1993 and 1997 state debt bailouts. The paper subsequently discusses the determinants of state debt bailouts in Brazil along the lines of a conceptual framework that recognizes that the essence of the bailout question is the issue of moral hazard, then presents empirical evidence that the occurrence of bailouts is associated with lower fiscal discipline in Brazilian states during the 1990s. En línea: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=788068 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=72891 Research Network Working Paper, 441. State goverment bailouts in Brazil [texto impreso] / Afonso S. Bevilaqua . - Washington : Banco Interamericano de Desarrollo, 2002 . - 58 p. Idioma : Inglés Temas: BANCO INTERAMERICANO DE DESARROLLO BRASIL FINANZAS PUBLICAS GOBIERNO Clasificación: 338.9 Resumen: As a result of the consolidation of democracy after the end of the military regime in the mid-1980s, Brazil has gone through a period of remarkable decentralization both in fiscal and political terms. The move towards decentralized management and control of public finances has been followed by a series of bailouts of state governments by the federal government. The lack of effective control on borrowing, coupled with reputational effects originating from these repeated bailout operations, reduced fiscal discipline and created an explosive accumulation of debts in Brazilian states during the last decade. The main purpose of this paper is to assess the determinants of state debt bailouts in Brazil and their relationship with states’ fiscal discipline during the 1990s. After providing a brief overview of intergovernmental fiscal relationships in the Brazilian economy, the paper describes state debt developments from the mid-1980s on, with special emphasis on the 1989, 1993 and 1997 state debt bailouts. The paper subsequently discusses the determinants of state debt bailouts in Brazil along the lines of a conceptual framework that recognizes that the essence of the bailout question is the issue of moral hazard, then presents empirical evidence that the occurrence of bailouts is associated with lower fiscal discipline in Brazilian states during the 1990s. En línea: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=788068 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=72891

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038323	338.9 RES v.441	Libro	Colección	Biblioteca Central	Disponible

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