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- W1985430147 abstract "Abstract Very few researchers have addressed the long‐term financing arrangements of municipal governments in developing countries. No research has evaluated empirically either the elements that affect municipal borrowing in developing countries or what those elements reveal about the municipal credit system. Analyzing Brazilian municipal loan and financial data with a series of simultaneous equations, this paper addresses the following questions: What factors determine municipal government investment levels, borrowing levels, and borrowing prices? What do empirical data reveal about the character of the Brazilian municipal credit system? The results show that investment, borrowing, and borrowing prices are interconnected. Furthermore, while some signs of a market‐based system exist, there is evidence that investment and borrowing decisions are made within an administered market." @default.
- W1985430147 created "2016-06-24" @default.
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- W1985430147 date "2003-01-03" @default.
- W1985430147 modified "2023-10-18" @default.
- W1985430147 title "Municipal Investment, Borrowing, and Pricing Under Decentralization: The Brazilian Case" @default.
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- W1985430147 doi "https://doi.org/10.1081/pad-120018301" @default.
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