Fiscal federalism and sub-sovereign finance – Brazil presentation by José R. Afonso in World Bank, Washington (5/2013). Some conclusions – “A highly conservative approach is the main hallmark of those in power in the different governments throughout Brazil. Change is necessary, given that the present structure is a major constraint to improving Brazil’s competitiveness, as well as seriously undermining budgets impacted by the disproportionate tax burden.” See PDF Attached
