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On the determinants and effects of BNDES financing to Brazilian municipal governments

Grant number: 14/25855-1
Support Opportunities:Scholarships abroad - Research
Effective date (Start): August 04, 2015
Effective date (End): July 18, 2016
Field of knowledge:Applied Social Sciences - Economics - Fiscal and Monetary Policies
Principal Investigator:Sergio Naruhiko Sakurai
Grantee:Sergio Naruhiko Sakurai
Host Investigator: Toke Skovsgaard Aidt
Host Institution: Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto (FEARP). Universidade de São Paulo (USP). Ribeirão Preto , SP, Brazil
Research place: University of Cambridge, England  


This research project, developed to request Foreign Research Fellowship (Bolsa de Pesquisa no Exterior (BPE)) to Fapesp, aims at investigating the determinants and effects of subsidized credit granted by the National Bank for Economic and Social Development (BNDES) to Brazilian municipal governments. In particular, the first study intends to investigate whether the political alignment of municipalities with the federal government influences the probability of receiving funding by the bank. The second study aims to investigate the effects caused by these resources (according to specific lines of credit available to the public sector) on fiscal and social indicators of those government unities. To achieve these objectives, empirical tests based on microeconometric methods will explore a sample covering fiscal, political, social and demographic indicators. Given the significant growth of the empirical literature dealing with development banks (in particular, the role of BNDES), the literature on local public finance and the New Political Economy literature, this research proposal intends to provide relevant results not only in a academic perspective, but also concerning a consistent assessment of BNDES disbursements to Brazilian direct public administration, in order to improve the development and evaluation of government policies. (AU)

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Scientific publications
(References retrieved automatically from Web of Science and SciELO through information on FAPESP grants and their corresponding numbers as mentioned in the publications by the authors)
SAKURAI, SERGIO NARUHIKO; THEODORO, MARIA ISABEL ACCORONI. On the relationship between political alignment and government transfers: triple differences evidence from a developing country. EMPIRICAL ECONOMICS, v. 58, n. 3, p. 1107-1141, . (08/11336-1, 14/25855-1)

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