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

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. By developing a municipal bond market in Brazil, state and local governments would in effect be better equipped to gain access to efficient capital markets for the public provisioning of capital infrastructure projects through taxable, tax-exempt bond issuances, or other non-traditional public financing mechanisms

Name thesis:degree_name

Master of Public Affairs

Level thesis:degree_level

Masters

Discipline thesis:degree_discipline

Public Affairs (MPAff)

Grantor

The University of Texas at Austin

Year dc:date.issued

2020

Author dc:creator

• Correa, Ricardo, M. of Public Affairs

Advisors dc:contributor.advisor

• Ward, Peter M., 1951-
• Luby, Martin J.

• Municipal finance
• Capital infrastructure
• Development
• Latin America
• Brazil
• Formula 1 racetrack
• Deodoro
• Circuit of the Americas
• Municipal bond market
• Subnational capital markets
• Alternative banking
• Social inclusion

Language dc:language.iso

en

Identifier URI

http://dx.doi.org/10.26153/tsw/14866

OAI identifier oai:identifier

oai:repositories.lib.utexas.edu:2152/87922