Suchergebnisse

This paper analyses the main results of Timemania as a sports public policy based on the efficiency, efficacy and social effectiveness principles. A descriptive-analytical research with qualitative approach was conducted through the analysis of contents from laws and official reports. Results suggest that the Timemania lottery was neither efficacious nor efficient, as it did not achieve the initial goals as to its revenues and debt payment for clubs. Timemania was not effective and did not significantly impact sports development. Finally, it is possible to conclude that Timemania, as a regulatory policy, fulfills the sole role of ensuring financial injection for major Brazilian football clubs. ; O artigo analisa os principais resultados da Timemania como política pública de esporte a partir dos princípios da eficiência, eficácia e efetividade social. Realizou-se uma pesquisa descritivo-analítica, com abordagem qualitativa, a partir da análise de conteúdos de leis e relatórios oficiais. Os resultados indicam que a Timemania não foi eficaz e eficiente, por não atender os objetivos iniciais de arrecadação e pagamento das dívidas dos clubes. A Timemania não foi efetiva e não impactou de forma significativa no desenvolvimento do esporte. Por fim, conclui-se que a Timemania, como uma política regulatória, cumpre o papel apenas de garantir um aporte financeiro para os clubes de futebol de maior destaque no Brasil.

This paper proposes a change in public debt policy, based on the placement of new bonds with maturities between 1 and 30 years. It is shown that if all the internal public debt were transformed into a debt of 7 years, paid through a monthly fix payment, with an interest rate of 12% in US$ and a clause for payment in foreign currency, the primary surplus of the Federal Government required for internal public debt service and payments of interests on external public debt could be less than 2.5% of GDP. It is concluded that, under certain conditions, Brazil could adopt a stabilization plan with a fiscal and monetary toughness very similar to that of the Convertibility Plan adopted in Argentina in 1991. (Rev Econ Polit/DÜI)

This essay tries to evaluate Minister Marcilio Marques Moreira's approach on Brazil's external debt negotiations. It starts recognizing that external debt restructuring should contribute simultaneously to the correction of public sector financial imbalances and to the stability of the exchange rate. The decision to simply adhere to current Paris Club and Brady Plan type agreements for middle-income countries will result in small debt service relief. Minister Marcilio's strategy requires therefore further public sector adjustment and new capital inflows to succeed

This paper analyses the evolution of Brazilian public sector expenditures during the second half of the 1980s. The interpretation according to which the fiscal crisis is exogenous and caused by the external debt interest is criticized. The great increase in current expenditures after 1984, together with a budget restriction that limited public investment, is discussed. Based on the findings, public sector consumption, and not external debt interest payment, is considered the most important factor responsible for the public investment trajectory over time during the last five years