The purpose of this paper is to use the literature which evaluates the external sustainability condition to evaluate the original equation of Feldstein and Horioka. We conclude that the saving-investment correlation calculated using cross-sectional data measures the solvency condition instead of...

The objective of this paper is to analyze the Brazilian state fiscal consolidation in the period 1986-2001. For that propose, we apply the duration models methodology. Henceforth, we try to list the main features that can explain the probability of the continuity of a state fiscal adjustment...

The purpose of this paper is to determine which components of public spending have influence on economic growth. The sample is composed by the Brazilian states over the period 1986-2002. Initially the spending is classified according its economic characteristics: current or capital. Later it is...