The objective of this thesis is to investigate empirically if the differences in the fiscal results of the Brazilian states in period 1986-2002 can be explained by political variable, more specifically the occurrence of elections, the ideology of politicians and the government fragmentation. Panel data is used to get the estimates. The results show evidences that the electoral calendar affects fiscal variables significantly, as well as some types of expenses. It was verified also that ideology affects the types of expenses: left and center-left governments extends the investment and left governments increase social expenses. Governments with majority in Assembly increase receipts, and the more fragmented a government, larger are investment expenses.