Subnational Public Financial Management : Institutions and Macroeconomic Considerations

Subnational Public Financial Management : Institutions and Macroeconomic Considerations
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Volume/Issue:
2005/108
Series:
IMF Working Papers
Author(s):
Maria Albino-War, Raju Singh, and Ehtisham Ahmad
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
June 2005
DOI:
http://dx.doi.org/10.5089/9781451861273.001
ISBN:
9781451861273
ISSN:
1018-5941
Page:
26
Transparent public financial management at the subnational level requires institutions and processes that mirror those needed at the central government level, in order to generate better accountability and competition among different subnational governments, critical elements in ensuring good governance and efficiency of decentralized administrations. Further subnational debt also has implications for overall macroeconomic stability that concerns the central government. The key components are identified, with a particular focus on subnational debt monitoring and management.
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