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Budget, institutions and fiscal policy in Brazil (Tanzi)

Budget, institutions and fiscal policy in Brazil by Vito Tanzi published by Rivista di diritto finanziario e scienza delle finanze, (2015).

“The paper is related to budgetary developments in Brazil. It starts with a section that describes how the economic role of the state changed in many countries over the past hundred years, as a consequence of their growing democratization that shifted the political power from relatively few to many. The new expanded role of the state required higher public spending and higher tax levels. Brazil followed the European model in attempting to create a version of a welfare state. The paper describes budgetary developments and the large increase in spending and in taxation that took place. It focuses on redistributive and equity aspects and on recent more pro-poor policies. It mention the recent development of a “shadow fiscal policy” that has created major difficulties for the current government and for the country.

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