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The Challenge of Reforming Budgetary Institutions in Developing Countries
Author:
Mr. Richard I Allen
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Series:
IMF Working Papers
Volume/Issue:
Volume 2009: Issue 096
Language:
English
Publication Date:
01 May 2009
DOI:
https://doi.org/10.5089/9781451872439.001
ISBN:
9781451872439
ISSN:
1018-5941
Pages:
28
Keywords:
WP; country; government; budget; reform program; Platform approach
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper notes that the development of sound budgetary institutions in countries such as France, the U.K. and the U.S. has taken a very long time?200 years or more?and is still evolving. It discusses Douglass North's prediction?which is supported by available data?that institutional reform is also likely to be very slow in developing countries since the budget is especially prone to rent-seeking influences. Finally, the paper discusses the currently fashionable emphasis on complex, multiannual PFM reform strategies, which have been strongly promoted by the donor community; and advocates a simpler approach grounded on Schick's important principle of "getting the basics right." The paper identifies several areas where further research would be fruitful.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2009: Issue 096