The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Significant changes with far-reaching impact have taken place during recent years in public expenditure management. These changes which are being implemented in a few industrial countries are likely to be emulated by other industrial and developing countries. The content of these changes is enumerated in some detail, and their impact is assessed in terms of specified criteria. Other continuing problems that are not addressed by these advances are also considered in detail.