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Public finances sustainability by panel data models with cross-sectional dependence: analysis of Brazilian states

##article.authors##

  • Eduardo Lima Campos EPGE Brazilian School of Economics and Finance (FGV EPGE) https://orcid.org/0000-0002-7294-8947
  • Rubens Penha Cysne EPGE Brazilian School of Economics and Finance (FGV EPGE)

DOI:

https://doi.org/10.1590/0103-6351/7588

Keywords:

Cross-dependence, panel methods, fiscal sustainability, Brazilian states public debt

Abstract

This study investigates the sustainability of Brazilian states’ public finances with quarterly revenue and expenses data from 2006 to 2020, aimed at the identification of groups of states that share similar patterns. The technique adopted is a panel data model that avoids mistaken inferences by controlling for cross-dependence among states. We find two clear patterns, from which we identify a fiscally sustainable group of only 9 states and an unsustainable group, comprising the remaining ones.

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Posted

06/30/2023

How to Cite

Campos, E. L., & Cysne, R. P. (2023). Public finances sustainability by panel data models with cross-sectional dependence: analysis of Brazilian states. In SciELO Preprints. https://doi.org/10.1590/0103-6351/7588

Section

Applied Social Sciences

Copyright (c) 2023 Eduardo Lima Campos, Rubens Penha Cysne

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

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Data statement

  • The research data is available on demand, condition justified in the manuscript