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Budget Institutions And Fiscal Performance In Low Income Countries
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Book Synopsis Budget Institutions and Fiscal Performance in Low-Income Countries by : Victor Duarte Lledo
Download or read book Budget Institutions and Fiscal Performance in Low-Income Countries written by Victor Duarte Lledo and published by International Monetary Fund. This book was released on 2010-03-01 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents, for the first time, multi-dimensional indices of the quality of budget institutions in low-income countries. The indices allow for benchmarking against the performance of middle-income countries, across regions, and according to different institutional arrangements that deliver good fiscal performance. Using the constructed indices, the paper provides preliminary empirical support for the hypotheses that strong budget institutions help improve fiscal balances and public external debt outcomes; and countries with stronger fiscal institutions have better scope to conduct countercyclical policies.
Book Synopsis Budget Institutions in Low-Income Countries by : Mr.Sanjeev Gupta
Download or read book Budget Institutions in Low-Income Countries written by Mr.Sanjeev Gupta and published by International Monetary Fund. This book was released on 2014-09-11 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents twelve budget institutions that can support planning and delivery of credible fiscal strategies in the fiscal policy-making process. The resulting framework is applied to seven low-income countries and the status of their budget institutions compared to the G-20 advanced and emerging market economies. The paper then presents recommendations for designing and implementing appropriate fiscal strategy for low- income countries. Particular attention is paid to prioritization and sequencing of reform efforts.
Book Synopsis Fiscal Institutions and Fiscal Performance by : James M. Poterba
Download or read book Fiscal Institutions and Fiscal Performance written by James M. Poterba and published by University of Chicago Press. This book was released on 2008-04-15 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unprecedented rise and persistence of large-scale budget deficits in many developed and developing nations during the past three decades has caused great concern. The widespread presence of such deficits has proved difficult to explain. Their emergence in otherwise diverse nations defies particularistic explanations aimed at internal economic developments within a specific country. Fiscal Institutions and Fiscal Performance shifts emphasis away from narrow economic factors to more broadly defined political and institutional factors that affect government policy and national debt. This collection brings together new theoretical models, empirical evidence, and a series of in-depth case studies to analyze the effect of political institutions, fiscal regulations, and policy decisions on accumulating deficits. It provides a fascinating overview of the political and economic issues involved and highlights the role of budgetary institutions in the formation of budget deficits.
Book Synopsis Budgetary Institutions and Expenditure Outcomes by : José Edgardo L. Campos
Download or read book Budgetary Institutions and Expenditure Outcomes written by José Edgardo L. Campos and published by World Bank Publications. This book was released on 1996 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Budget Institutions in G-20 Countries - An Update by : International Monetary Fund
Download or read book Budget Institutions in G-20 Countries - An Update written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-04 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent crisis left many G-20 countries with significant fiscal consolidation needs. There is evidence that well-designed budget institutions can help countries to plan and deliver successful fiscal adjustments. A 2010 internal IMF study identified ten budget institutions which can support the consolidation process, assessed their strength in each G-20 country, and identified priorities for institutional reform. Following consultations with all G-20 countries and using a revised evaluation framework, this paper: (i) reports on progress in strengthening their budget institutions; (ii) analyzes their impact on post-crisis fiscal performance; and (iii) makes recommendations for further institutional reform
Book Synopsis Budgeting and Budgetary Institutions by : Anwar Shah
Download or read book Budgeting and Budgetary Institutions written by Anwar Shah and published by World Bank Publications. This book was released on 2007 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Budgeting and budgetary institutions play a critical role in resource allocation, government accountability, and improved fiscal and social outcomes. This volume distills lessons from practices in designing better fiscal institutions, citizen friendly budgets, and open and transparent processes of budget preparation and execution. It also highlights newer concepts of performance budgeting, accrual accounting, activity based costing, and the use of information and communication technology in budgeting. These tools of analysis are supplemented by a review of budgeting in post-conflict countries and two country case studies on the reform of budgeting systems.
Book Synopsis Institutions, Politics and Fiscal Policy by : Rolf R. Strauch
Download or read book Institutions, Politics and Fiscal Policy written by Rolf R. Strauch and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rolf R. Strauch and Jiirgen von Hagen Center for European Integration Studies (ZEI), University of Bonn; ZEI, University of Bonn, Indiana University, and CEPR The large and persistent deficits, rising levels of debt and growing levels of public spending observed in many DECO economies during the past 25 years have stimulated much theoretical and empirical research on the political economy of public finance. Although a number of issues have been studied extensively, certain areas are still at an exploratory stage and need further theorizing and thorough empirical research. During the last two decades, the theoretical debate on budgeting has been dominated by the controversy between partisan and institutionalist approaches. Within the more political-science oriented, institutionalist literature, a controversy exists between the distributive and the informational perspectives, each setting forth a distinctive organizational rationale of parliaments with different fiscal implications. The papers in this volume cover these different perspectives, extend previous models, and test their empirical validity. The papers were originally written for a conference on "Institutions, Politics, and Fiscal Policy" organized by the Center for European Integration Studies at the University of Bonn, Germany, in July 1998. The book is organized in three parts each focusing on a distinctive aspect. The first part is dedicated to the partisan perspective. The second part focuses on budget institutions. The third part consists of three case studies of institutional reform of the budget process. This book is directed to academics and practitioners alike.
Book Synopsis Budgetary Institutions and Expenditure Outcomes by : Ed Campos
Download or read book Budgetary Institutions and Expenditure Outcomes written by Ed Campos and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: September 1996 How institutional arrangements affect incentives governing the size, allocation, and use of budgetary resources and improve transparency and accountability -- binding key players to particular fiscal outcomes and making it costly for them to misbehave. Campos and Pradhan examine how institutional arrangements affect incentives that govern the size, allocation, and use of budgetary resources. They use a diagnostic questionnaire designed to elicit the relative strengths and weaknesses of specific systems in terms of instilling fiscal discipline, strategically assigning spending priorities, and making the best use of limited resources. In applying their methodology to a sample of seven countries (Australia, Ghana, Indonesia, Malawi, New Zealand, Thailand, and Uganda), they also examine how donor assistance affects expenditure outcomes. They first compare the far-reaching reforms introduced in Australia and New Zealand, two countries at the cutting edge of institutional reform. In New Zealand, reform focused on achieving general fiscal discipline and technical efficiency (getting the best output at the least cost). In Australia, reform focused on strategic priorities and a shift from central to line agencies to identify savings within hard budget constraints. The two countries took dramatically different paths, but both sought to alter the incentives that affect the size, allocation, and use of resources, and to improve transparency and accountability, binding key players to particular fiscal outcomes and making it costly for them to misbehave. Systems in Indonesia and Thailand were reasonably effective in instilling fiscal discipline, but Indonesia seemed to be somewhat better at allocating resources to protect basic social services and alleviate poverty during periods of fiscal austerity. Thailand's overcentralized system did not capitalize on useful information from line agencies and lower levels of government. Donors play a central role in spending outcomes in the three African countries studied -- Ghana, Malawi, and Uganda. Donors provided incentives for short-term fiscal discipline, but the way they imposed spending cuts impeded the prioritizing of expenditures, and multiple donor projects fragmented the budget. Donor conditionality on the composition of expenditures, and donor-driven attempts to improve technical efficiency, were ineffective. Lack of transparency and accountability meant that rules were not enforced and budgets were often remade in an ad hoc, centralized way, so that the flow of resources to line agencies was unpredictable. This paper -- a product of the Public Economics Division, Policy Research Department -- is part of a larger effort in the department to improve the allocation and use of public expenditures. The study was funded by the Bank's Research Support Budget under the research project The Impact of Budgetary Institutions on Expenditure Outcomes (RPO 680-30).
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498343562 Total Pages :104 pages Book Rating :4.4/5 (983 download)
Book Synopsis Budget Institutions in G-20 Countries - Country Evaluations by : International Monetary Fund
Download or read book Budget Institutions in G-20 Countries - Country Evaluations written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-04 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central government publishes comprehensive financial statements, which include the social security funds and balance sheets with all financial assets and liabilities. Audited financial statements are published more than nine months after the end of the fiscal year. The 2004 Fiscal Responsibility Law (LRF), introduced a number of key reforms in public financial management which apply to the central and most of the first layer of sub-national governments. The reforms include establishment of a macro-fiscal framework, fiscal rules, a medium-term budget framework (MTBF), a system of quarterly budget execution reports, and the Federal Council on Fiscal Responsibility (FCFR) which is tasked to enforce the provisions of the LRF However, there are problems with the LRF and its implementation: (i) the out-years of the MTBF are indicative only; (ii) several LRF provisions have been suspended or relaxed since 2009; (iii) some provinces are not complying with their obligations under the law; and (iv) membership in the FCFR is not mandatory and adherence to the LRF is voluntary. The FCFR comprises of representatives of the central government, the city of Buenos Aires,1 and 21 of the 23 provincial governments. Nonetheless, the law has significantly increased the capacity to coordinate fiscal policies across levels of government and individual jurisdictions. Differences between macroeconomic and fiscal forecasts and outturns are not analyzed. Limited information is presented on fiscal risks. Budget execution control and reporting have been strengthened through a series of upgrades to the Integrated Financial Management Information System (SIDIF), which began operations in 1993.
Book Synopsis Fiscal Consolidation in Southeastern European Countries by : Mr.Brian Olden
Download or read book Fiscal Consolidation in Southeastern European Countries written by Mr.Brian Olden and published by International Monetary Fund. This book was released on 2012-05-01 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the relative strengths and weaknesses of fiscal institutions in ten Southeastern European countries, using recent benchmarking methodologies developed by FAD. The assessment evaluates each country’s understanding of the scale of the fiscal adjustment challenge, its ability to develop a credible consolidation strategy, and its capacity to implement the strategy. Key institutional arrangements, are generally in place, including top-down budgeting and medium-term budget frameworks. Other institutional arrangements require further attention, including macro-fiscal forecasting, fiscal risk analysis, setting fiscal objectives, presence and role of independent fiscal agencies, and top-down parliamentary approval.
Book Synopsis Fiscal Policy Design in Low-income Countries by : Christopher S. Adam
Download or read book Fiscal Policy Design in Low-income Countries written by Christopher S. Adam and published by . This book was released on 2001 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Guidelines for Public Expenditure Management by : Mr.Jack Diamond
Download or read book Guidelines for Public Expenditure Management written by Mr.Jack Diamond and published by International Monetary Fund. This book was released on 1999-07-01 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.
Book Synopsis Budget Deficits and Budget Institutions by : Mr.Alberto Alesina
Download or read book Budget Deficits and Budget Institutions written by Mr.Alberto Alesina and published by International Monetary Fund. This book was released on 1996-05-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: By discussing the available theoretical and empirical literature, this paper argues that budget procedures and budget institutions do influence budget outcomes. Budget institutions include both procedural rules and balanced budget laws. We critically assess theoretical contributions in this area and suggest several open and unresolved issue. We also examine the empirical evidence drawn from studies on samples of OECD countries, Latin American countries and the United States. We conclude with a discussion of the normative implications of this literature and with some concrete proposals.
Book Synopsis Performance-Based Budgeting in the Public Sector by : Michiel S. de Vries
Download or read book Performance-Based Budgeting in the Public Sector written by Michiel S. de Vries and published by Springer. This book was released on 2019-01-30 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comparative analysis of performance budgeting and financing implementation, and examines failures and successes across both developed and developing countries. Beginning with a review of theoretical research on performance budgeting and financing, the book synthesises the numerous studies on the subject. The book describes the situation in the US, Australia, New Zealand, Germany, Austria and Switzerland, Netherlands and Italy, as well as in seven developing countries - Bulgaria, Czech Republic, Slovakia, Slovenia, Ukraine, Russia and South Africa, at the national, and at the local level. Each chapter provides historical and descriptive details of successful or failed experiments in performance budgeting and performance financing.
Book Synopsis Fiscal Performance, Institutional Design and Decentralization in European Union Countries by : Mr.Julio Escolano
Download or read book Fiscal Performance, Institutional Design and Decentralization in European Union Countries written by Mr.Julio Escolano and published by International Monetary Fund. This book was released on 2012-02-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of decentralization on overall fiscal performance in the European Union, taking into account fiscal institutional arrangements. We find that spending decentralization has been associated with sizably better fiscal performance, especially when transfer dependency of subnational governments is low. However, subnational fiscal rules do not seem to be associated with better performance.
Book Synopsis Promoting Fiscal Discipline by : Mr.Manmohan S. Kumar
Download or read book Promoting Fiscal Discipline written by Mr.Manmohan S. Kumar and published by International Monetary Fund. This book was released on 2007-10-18 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization. Lack of fiscal discipline generally stems from the injudicious use of policy discretion. The benefits of discretion are seen in terms of the ability of policymakers to respond to unexpected shocks and in allowing elected political representatives to fulfill their mandates. But discretion can be misused, resulting in persistent deficits and procyclical policies, rising debt levels, and, over time, a loss in policy credibility. The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches—fiscal rules, fiscal responsibility laws, and fiscal agencies—can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them.
Book Synopsis Budgetary Institutions and Expenditure Outcomes by : Ed Campos
Download or read book Budgetary Institutions and Expenditure Outcomes written by Ed Campos and published by . This book was released on 2016 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
