Precidência, crescimento econômico e resultado fiscal das economias locais no Estado do Ceará: uma análise regional

Abstract

Regarding the insolvency path of the Brazilian social security system, the study builds a panel with 132 municipalities and investigates the impact of per capita social security expenditures on local economies from Ceará in terms of economic growth and fiscal equilibrium of local economies. Further, the analysis was disaggregated in terms of geographical regions and the social security expenditures compared with those in social areas such as health and education and infrastructure such as housing and urbanism. The overall results differ dramatically from the specialized analysis by regions of the state: i) to the overall municipalities or to the RMF public administrations, the impact of social security expenditures raises GDP growth in real terms with no impact over the local fiscal balance, which entails that these expenditures don’t compromise the local public solvency; ii) In Sobral/Ibiapaba and Cariri regions, those expenditures had innocuous or recessive impacts; iii) to the overall economies, the expenditures in health and education and housing stimulate the GDP growth, although corroborate the trade-off between social expenditures and fiscal results.