A Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries »
Series: IMF Working Papers
Author(s): Luc Leruth , and Elisabeth Paul
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2006
Keywords: principal-agent theory, probability, expenditure, public expenditure, expenditure management,
A well-functioning public expenditure management (PEM) system is considered a critical pillar of government efficiency, on par with a low-distortion tax system and efficient tax administration. The paper discusses...