{"id":{"repo_id":"texas","oai_identifier":"oai:repositories.lib.utexas.edu:2152/87922"},"canonical_url":"https://search.dev.ndltd.org/etd/texas/oai:repositories.lib.utexas.edu:2152/87922","repository":{"repo_id":"texas","name":"University of Texas","base_url":"https://repositories.lib.utexas.edu/server/oai/request"},"display":{"title":"The development of a municipal bond market in Brazil : a comparative case study of the Deodoro F1 race track : Rio de Janeiro & COTA, Austin, TX","abstract":"Considering the long history of privately financed capital projects in Latin America, this research paper examines the theory that the US municipal finance structure may serve as a prudent legal, regulatory model for emerging markets in Latin America. As such, the development of a sub-national debt finance apparatus is critical for the liberalization of financial markets in Brazil. Mired by institutional corruption and public distrust, this paper offers a comparative examination of the capital infrastructure development of Formula 1 racetrack in Deodoro, Rio de Janeiro, Brazil and Circuit of the Americas (COTA) in Austin, TX: a case study which examines alternative banking solutions, transparency through regulatory reforms, and the viability of subnational capital markets for improving social inclusion in Brazil. 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Mired by institutional corruption and public distrust, this paper offers a comparative examination of the capital infrastructure development of Formula 1 racetrack in Deodoro, Rio de Janeiro, Brazil and Circuit of the Americas (COTA) in Austin, TX: a case study which examines alternative banking solutions, transparency through regulatory reforms, and the viability of subnational capital markets for improving social inclusion in Brazil. 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As such, the development of a sub-national debt finance apparatus is critical for the liberalization of financial markets in Brazil. Mired by institutional corruption and public distrust, this paper offers a comparative examination of the capital infrastructure development of Formula 1 racetrack in Deodoro, Rio de Janeiro, Brazil and Circuit of the Americas (COTA) in Austin, TX: a case study which examines alternative banking solutions, transparency through regulatory reforms, and the viability of subnational capital markets for improving social inclusion in Brazil. 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