This dissertation analyzes how strong is the relationship between public investments in education and health and the resulting outcomes. It investigates the role that governance plays in this relationship and if it is able to contribute – positively or negatively – to improve it. Using econometric models of linear regression estimations, we analyzed the data on public expenditure and social outcomes of 90% of Brazilian municipalities trying to observe if correlations could be established, likewise the comparison was made using an aggregate indicator of governance. This study is also qualitative as it analyzes the main instrument for municipal planning of two Brazilian cities with divergent social outcomes, and the results were compared with scholars and public official's interviews. Geneva's planning instruments and processes were analyzed and used as a benchmarking for a comparison along with a possible learning process.