“Will The Brazilian LRGs? Preparations For The World Cup And Olympics Earn The Ultimate Prize? Jul 12”

Hosting the 2014 World Cup and 2016 Olympic Games will bestow several benefits on the Brazilian local and regional governments (LRGs) long after they wind down their spending on preparations for these events. In particular, a modern urban infrastructure will allow Brazilians to enjoy new subway and train lines, highways, and sports arenas, and a larger airport in Rio de Janeiro. But until then, the LRGs are planning to fund these projects through their own revenue sources, federal transfers, the Brazilian Development Bank (BNDES), and the private sector. Although some projects have already secured funding, we believe that the LRGs are still exposed to cost overruns for others that are still under construction.

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