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Public Financial Management and Its Emerging Architecture

Public Financial Management and Its Emerging Architecture »

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

DOI: http://dx.doi.org/10.5089/9781475531091.071

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

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...

Excerpt
			: Public Financial Management and Its Emerging Architecture

Excerpt : Public Financial Management and Its Emerging Architecture »

Series: Miscellaneous Publication (Other)

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2013

DOI: http://dx.doi.org/10.5089/PFMEEAEX.073

ISBN: PFMEEAEX

Keywords: Financial management, decentralization, fiscal rules, rules, expenditure, public investment

This is an excerpt from Public Financial Management and Its Emerging Architecture. It includes the table of contents, foreword, preface, and chapter 1....

Contributors

Contributors »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

Richard Allen is an economist and public finance expert. He currently works in Washington, D.C., as a consultant with the IMF and World Bank. He previously worked for the U.K. Treasury and has h...

Introduction: The Emerging Architecture Of Public Financial Management

Introduction: The Emerging Architecture Of Public Financial Management »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

If a single word could encapsulate public financial management (PFM) in the first decades of the twenty-first century, it would be innovation. This book takes stock of key, groundbreaking practices that have...

Chapter 1: Reflections On Two Decades Of Public Financial Management Reforms

Chapter 1: Reflections On Two Decades Of Public Financial Management Reforms »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

This chapter provides an overview of contemporary public financial management (PFM). In doing so, it prepares the ground for the succeeding chapters, which discuss in detail specific PFM reforms and challeng...

Chapter 2: Developing Legal Frameworks To Promote Fiscal Responsibility: Design Matters

Chapter 2: Developing Legal Frameworks To Promote Fiscal Responsibility: Design Matters »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

One of the most pervasive problems in public finance is the upward drift of government expenditure, deficits, and debt over time (Rodrik, 1998; Mosley, 2005; Erauskin-Iurrita, 2008). The economic literature...

Chapter 3: Numerical Fiscal Rules: International Trends

Chapter 3: Numerical Fiscal Rules: International Trends »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

Strengthening fiscal frameworks, in particular through numerical fiscal rules, has emerged as a key response to the fiscal legacy of the 2008–09 global economic and financial crisis. In the euro area and in...

Chapter 4: Medium-Term Budget Frameworks In Advanced Economies: Objectives, Design, And Performance

Chapter 4: Medium-Term Budget Frameworks In Advanced Economies: Objectives, Design, And Performance »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

Budgeting in most countries focuses on preparing an annual plan for revenue and expenditure, but an understanding of fiscal developments beyond this relatively short time horizon is important for the ability...

Chapter 5: Managing And Controlling Fiscal Risks

Chapter 5: Managing And Controlling Fiscal Risks »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

Since the early 1990s, the management of fiscal risk has become an increasingly prominent topic in public finance. New sources of risk and unexpected shocks to government finances have highlighted the import...

Chapter 6: The Role Of Fiscal Councils In Promoting Fiscal Responsibility

Chapter 6: The Role Of Fiscal Councils In Promoting Fiscal Responsibility »

Source: Public Financial Management and Its Emerging Architecture

Series: Books

Author(s): M. Cangiano , Teresa Curristine , and Michel Lazare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 April 2013

ISBN: 9781475531091

Keywords: decentralization, fiscal rules, rules, expenditure, public investment

Effective fiscal management depends on the availability of good information about the objectives, design, and impact of fiscal policy and requires appropriate incentives to achieve good fiscal outcomes. Sett...