Fiscal Transparency, Fiscal Performance and Credit Ratings

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475571364
Total Pages : 32 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Fiscal Transparency, Fiscal Performance and Credit Ratings by : Ms.Elif Arbatli

Download or read book Fiscal Transparency, Fiscal Performance and Credit Ratings written by Ms.Elif Arbatli and published by International Monetary Fund. This book was released on 2012-06-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by credit ratings. It measures this effect through a direct channel (uncertainty reduction) and an indirect channel (better fiscal policies and outcomes), and it differentiates between advanced and developing economies. Fiscal transparency is measured by an index based on the IMF’s Reports on the Observance of Standards and Codes (ROSCs). We find that fiscal transparency has a positive and significant effect on ratings, but it works through different channels in advanced and developing economies. In advanced economies the indirect effect of transparency through better fiscal outcomes is more significant whereas for developing economies the direct uncertainty-reducing effect is more relevant. Our results suggest that a one standard deviation improvement in fiscal transparency index is associated with a significant increase in credit ratings: by 0.7 and 1 notches in advanced and developing economies respectively.

Transparency in Government Operations

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Author :
Publisher : International Monetary Fund
ISBN 13 : 155775697X
Total Pages : 50 pages
Book Rating : 4.5/5 (577 download)

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Book Synopsis Transparency in Government Operations by : Mr.J. D. Craig

Download or read book Transparency in Government Operations written by Mr.J. D. Craig and published by International Monetary Fund. This book was released on 1998-02-03 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.

Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe

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Publisher : International Monetary Fund
ISBN 13 : 1513532839
Total Pages : 66 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe by : Mr.Bernardin Akitoby

Download or read book Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe written by Mr.Bernardin Akitoby and published by International Monetary Fund. This book was released on 2020-05-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities.

Fiscal Risks - Sources, Disclosure, and Management

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498334520
Total Pages : 45 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Risks - Sources, Disclosure, and Management by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Fiscal Risks - Sources, Disclosure, and Management written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2008-05-31 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of member countries have expressed interest in advice regarding disclosure and management of fiscal risks (defined as the possibility of deviations of fiscal outcomes from what was expected at the time of the budget or other forecast). This paper analyzes the main sources of fiscal risks and—building on an overview of existing practices in a wide range of countries—provides practical suggestions in this area, including a possible Statement of Fiscal Risks and a set of Guidelines for Fiscal Risk Disclosure and Management.

Republic of Uzbekistan

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498312748
Total Pages : 76 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Republic of Uzbekistan by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Republic of Uzbekistan written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-05-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Fiscal Transparency Evaluation report highlights that Uzbekistan is embarking on a comprehensive reform program to strengthen public financial management and fiscal transparency. Wide-ranging reforms to improve the coverage, reliability, quality, and accessibility of fiscal reports are being developed and implemented, and some good progress already made. This assessment of fiscal transparency practices has been undertaken to support the government’s efforts to increase transparency by identifying priority areas for reform. An evaluation of practices against the IMF’s Fiscal Transparency Code (the Code) finds that tangible gains have been made over 2017 and 2018. In several areas where Uzbekistan’s practices do not currently meet the basic standard required under the Code, quick progress can be made. The report also provides a more detailed evaluation of Uzbekistan’s fiscal transparency practices and recommended reform priorities. Strengthening legislative oversight of the state budget with a view to reducing the extent to which in-year changes can be made to aggregate expenditures without prior parliamentary approval.

Is Transparency Good for You, and Can the IMF Help?

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451855400
Total Pages : 48 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Is Transparency Good for You, and Can the IMF Help? by : Yongseok Shin

Download or read book Is Transparency Good for You, and Can the IMF Help? written by Yongseok Shin and published by International Monetary Fund. This book was released on 2003-06-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper finds that reforms introduced by the IMF to promote transparency have created more informed markets and reduced borrowing costs for those emerging market countries that volunteered for them. Using a quarterly panel estimation with fixed country effects, we find that sovereign spreads fall following the adoption of three different transparency reforms. The effects are economically important, especially for those countries with low initial transparency. We use two-stage least squares to address any endogeneity in the timing of reforms exploiting internal IMF timetables that are unrelated to country events. Next, using a panel GARCH specification, we show that spreads move more than normal in the days immediately following publication of IMF country documents.

Corporate Governance of State-Owned Enterprises

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Publisher : Org. for Economic Cooperation & Development
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Corporate Governance of State-Owned Enterprises by : Organisation for Economic Co-operation and Development

Download or read book Corporate Governance of State-Owned Enterprises written by Organisation for Economic Co-operation and Development and published by Org. for Economic Cooperation & Development. This book was released on 2005 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication gives a comparative review of corporate governance practices in relation to state-owned enterprises in OECD countries, including scale and organisation, board composition and functions, relationships with non-state shareholders, the role of stakeholders transparency and disclosure.

PEFA, Public Financial Management, and Good Governance

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Author :
Publisher : World Bank Publications
ISBN 13 : 146481466X
Total Pages : 168 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis PEFA, Public Financial Management, and Good Governance by : Jens Kromann Kristensen

Download or read book PEFA, Public Financial Management, and Good Governance written by Jens Kromann Kristensen and published by World Bank Publications. This book was released on 2019-11-24 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project, based on the Public Expenditure and Financial Accountability (PEFA) data set, researched how PEFA can be used to shape policy development in public financial management (PFM) and other major relevant policy areas such as anticorruption, revenue mobilization, political economy analysis, and fragile states. The report explores what shapes the PFM system in low- and middle-income countries by examining the relationship between political institutions and the quality of the PFM system. Although the report finds some evidence that multiple political parties in control of the legislature is associated with better PFM performance, the report finds the need to further refine and test the theories on the relationship between political institutions and PFM. The report addresses the question of the outcomes of PFM systems, distinguishing between fragile and nonfragile states. It finds that better PFM performance is associated with more reliable budgets in terms of expenditure composition in fragile states, but not aggregate budget credibility. Moreover, in contrast to existing studies, it finds no evidence that PFM quality matters for deficit and debt ratios, irrespective of whether a country is fragile or not. The report also explores the relationship between perceptions of corruption and PFM performance. It finds strong evidence of a relationship between better PFM performance and improvements in perceptions of corruption. It also finds that PFM reforms associated with better controls have a stronger relationship with improvements in perceptions of corruption compared to PFM reforms associated with more transparency. The last chapter looks at the relationship between PEFA indicators for revenue administration and domestic resource mobilization. It focuses on the credible use of penalties for noncompliance as a proxy for the type of political commitment required to improve tax performance. The analysis shows that countries that credibly enforce penalties for noncompliance collect more taxes on average.

Manual on Fiscal Transparency (2007)

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 162 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Manual on Fiscal Transparency (2007) by :

Download or read book Manual on Fiscal Transparency (2007) written by and published by International Monetary Fund. This book was released on 2007-10-19 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an authoritative account and explanation of the revised IMF Code of Good Practices on Fiscal Transparency (the Code), used by countries undertaking assessments of the transparency of their fiscal management practices (including so-called fiscal ROSCs), legislatures, civil society organizations, economists, and financial analysts. Supplemented by the revised Guide on Resource Revenue Transparency, it identifies numerous benefits from fiscal transparency, including providing citizens with information to hold governments accountable for their policy choices, informing and improving the quality of economic policy decisions, highlighting potential risks to the fiscal outlook, and easing a country's access to international capital markets.--Publisher's description.

Fiscal Transparency Initiative

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Publisher : International Monetary Fund
ISBN 13 : 1513510258
Total Pages : 55 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Fiscal Transparency Initiative by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Fiscal Transparency Initiative written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-01-29 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper integrates into the Fiscal Transparency Code (FTC) a new fourth pillar (Pillar IV) on natural resource revenue management. This completes the pending update to the IMF's FTC, as set out by staff in 2014 (see IMF 2014a).

Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition

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Author :
Publisher : OECD Publishing
ISBN 13 : 9264267999
Total Pages : 326 pages
Book Rating : 4.2/5 (642 download)

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Book Synopsis Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition by : OECD

Download or read book Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition written by OECD and published by OECD Publishing. This book was released on 2017-03-27 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication contains the following four parts: A model Competent Authority Agreement (CAA) for the automatic exchange of CRS information; the Common Reporting Standard; the Commentaries on the CAA and the CRS; and the CRS XML Schema User Guide.

Open Budgets

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Publisher : Brookings Institution Press
ISBN 13 : 0815723377
Total Pages : 272 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Open Budgets by : Sanjeev Khagram

Download or read book Open Budgets written by Sanjeev Khagram and published by Brookings Institution Press. This book was released on 2013 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explicates political economy factors that have brought about greater transparency and participation in budget settings across Asia, Africa, and Latin America. This title presents the strategies, policies, and institutions through which improvements can occur and produce change in policy and institutional outcomes.

The Financial Crisis Inquiry Report

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Author :
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Fiscal Transparency, Accountability, and Risk

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498340075
Total Pages : 55 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Transparency, Accountability, and Risk by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Fiscal Transparency, Accountability, and Risk written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-07-08 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys that state of fiscal transparency in the wake of the current crisis and looks at what can be done to improve it. It examines the relationship between fiscal transparency and fiscal outcomes; reviews progress in promoting greater fiscal transparency over the past decade; considers the lessons of the recent crisis for existing fiscal transparency standards, practices, and monitoring arrangements; and makes a series of recommendations for renewing the global fiscal transparency effort in the wake of the crisis.

Public Financial Management and Its Emerging Architecture

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475512198
Total Pages : 468 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Public Financial Management and Its Emerging Architecture by : Mr. M. Cangiano

Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch

Handbook of Ratings

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Author :
Publisher : Springer
ISBN 13 : 3319392611
Total Pages : 366 pages
Book Rating : 4.3/5 (193 download)

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Book Synopsis Handbook of Ratings by : Alexander Karminsky

Download or read book Handbook of Ratings written by Alexander Karminsky and published by Springer. This book was released on 2016-08-04 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook presents a systematic overview of approaches to, diversity, and problems involved in interdisciplinary rating methodologies. Historically, the purpose of ratings is to achieve information transparency regarding a given body’s activities, whether in the field of finance, banking, or sports for example. This book focuses on commonly used rating methods in three important fields: finance, sports, and the social sector. In the world of finance, investment decisions are largely shaped by how positively or negatively economies or financial instruments are rated. Ratings have thus become a basis of trust for investors. Similarly, sports evaluation and funding are largely based on core ratings. From local communities to groups of nations, public investment and funding are also dependent on how these bodies are continuously rated against expected performance targets. As such, ratings need to reflect the consensus of all stakeholders on selected aspects of the work and how to evaluate their success. The public should also have the opportunity to participate in this process. The authors examine current rating approaches from a variety of proposals that are closest to the public consensus, analyzing the rating models and summarizing the methods of their construction. This handbook offers a valuable reference guide for managers, analysts, economists, business informatics specialists, and researchers alike.

Union of the Comoros

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Union of the Comoros by : International Monetary Fund. African Dept.

Download or read book Union of the Comoros written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-01-08 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Union of the Comoros: Selected Issues