Urban development financing

Fernando Rezende ()

Brazilian Journal of Political Economy, 1997, vol. 17, issue 4, 578-601

Abstract: This paper deals with a controversial aspect of the Brazilian public policies: theway urban investment and the provision of urban services are financed. The failure of patsolutions, based on a highly centralized decision-making process of channeling budgetaryresources and forced savings to state and local governments, led to a situation in which financialdifficulties became one of the main reasons of the deteriorating urban infrastructureand urban services in most of the major Brazilian cities. Against this background the paperargues for a through revision of the way and means of urban development financing, basedon recommendations of pooling available resources, implementing professional managementand moving toward better intergovernmental coordination of urban policies. Confidencein the newer rules, and in its maintenance over time, is also emphasized as an importantrequisite for attracting private capital to important areas, such as sanitation, transportationand housing. JEL Classification: R11; R58; O23.

Keywords: Urbanization; economic development; public expenditure (search for similar items in EconPapers)
Date: 1997
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