Research on public credit and local development receives international award
Renata Motta Café, PhD from EPGE, is recognized at the IDB Young Economist Award 2025 for the study Access to Loans and Local Development
Renata Motta Café, PhD from EPGE Brazilian School of Economics and Finance (FGV EPGE), was awarded the IDB Young Economist Award 2025, promoted by the Inter-American Development Bank (IDB). The recognition values excellent research conducted by PhD students on economic topics relevant to Latin America and the Caribbean.
The winning study, titled Access to Loans and Local Development, is part of the dissertation Essays on Fiscal Capacity, guided by Professor Pablo Muñoz Henríquez. The research investigates strategies for the efficient management of public resources, focusing on credit, tax administration, and fiscal decentralization.
The awarded chapter analyzes the effect of access to federal loans on local development. Using data from Brazilian municipalities and a discontinuous regression strategy, the study shows that public credit can increase investments without raising personnel expenses, generating positive multiplier effects for the economy.
The work will be presented at two prominent international events: at the NBER Conference – Fiscal Dynamics of State and Local Governments, in Cambridge (USA), on September 11, and at the 7th World Bank / ODI Global / IFS Public Finance Conference, in London (England), on September 25.
The complete thesis is available here.
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