A lei de responsabilidade fiscal e o comportamento do endividamento dos estados brasileiros: uma análise de dados no período de 2008 a 2018

Abstract

The fiscal imbalance and the need adjustment of government public accounts have dominated the economic debate and motivated changes in legislation to limit spending growth and ensure long-term fiscal sustainability. In this context, regulatory laws have emerged to establish the planning, control, and oversight of public expenditures. One of the most important is the Complementary Law No 101, called the Fiscal Responsibility Law (LRF), which was instituted on May 4, 2000 and promulgated with the purpose of assisting in improving the administration of public accounts of the federal, state and local governments. Thus, the present study aims to perform an analysis of the behavior of the indebtedness of the 26 Brazilian states and the Federal District in the period from 2008 to 2018, having as parameter the LRF. Based on official data provided by the National Treasury Secretariat (STN) and using descriptive statistics, five variables were analyzed that are fundamental to the equilibrium of the states: Net Consolidated Expenses, Net Current Revenue, Total Current Revenue, Personnel Expenses (active and inactive) and Investment Expenses. The results show fluctuations in the average indebtedness of the states during the analyzed period, the greater difficulty in controlling Personnel Expenses and the higher rates of growth of Investments in the states of the Northeast Region. Therefore, it was evidenced that the LRF has contributed positively to a better control and monitoring of the public debt of the Brazilian states, limiting the growth of indebtedness.