Fiscal Management
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Fiscal Management In Resource Rich Countries
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Author : Rolando Ossowski
language : en
Publisher: World Bank Publications
Release Date : 2016-06-28
Fiscal Management In Resource Rich Countries written by Rolando Ossowski and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-28 with Business & Economics categories.
The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, is to provide a concise overview of the EI-related topics these professionals are likely to encounter. This second volume, Fiscal Management in Resource-Rich Countries, addresses critical fiscal challenges typically associated with large revenue flows from the EI sector. The volume discusses fiscal policy across four related dimensions: short-run stabilization, the management of fiscal risks and vulnerabilities, the promotion of long-term sustainability, and the importance of good public financial management and public investment management systems. The volume subsequently examines several institutional mechanisms used to aid fiscal management, including medium-term expenditure frameworks, resource funds, fiscal rules, and fiscal councils. The volume also discusses the earmarking of revenue, resource revenue projections as applied to the government budget, and fiscal transparency, and outlines several fiscal indicators used to assess the fiscal stance of resource-rich countries. The authors hope that economists, public finance professionals, and policy makers working in resource-rich countries—including decision makers in ministries of finance, international organizations, and other relevant entities—will find the volume useful to their understanding and analysis of fiscal management in resource-rich countries.
Fiscal Management
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2005
Fiscal Management written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Political Science categories.
Accountability of government to citizens is the foundation for good governance. Unfortunately, many developing countries suffer the results of dysfunctional governance systems that fail to provide even minimal levels of vital public services. The key message of the New Institutional Economics is that incentives matter. In the public sphere, the countries' accountability frameworks rewards, sanctions, and measurement of performance shape public sector performance. This book applies this fundamental insight to fiscal/budgetary analysis and public service delivery, giving the reader tools and around the globe examples of institutional arrangements that help citizens hold government accountable for their performance.
Tax Expenditure Reporting And Its Use In Fiscal Management
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-27
Tax Expenditure Reporting And Its Use In Fiscal Management written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-27 with Business & Economics categories.
This note aims to inform governments on how to account for tax expenditures and use that information in fiscal management. The emphasis is on developing and emerging market economies, where the use of such accounts is in its infancy because of data constraints, insufficient human and financial resources, and weak fiscal institutions. Most developing economies, more-over, do not have tax policy units in their Ministry of Finance to provide analytical support to the govern¬ment and legislature that integrates all revenue policy aspects. As a result, the tax policy framework can be fragmented: line ministries compete in the provision of sectoral tax incentives, but do not report on their cost. The note is organized as follows. The second section outlines the role that tax expenditure measurement and reporting can play in fiscal management. The third section provides a step-by-step approach on how tax expenditure accounts can be built, with emphasis on data, methods and models, and institutional requirements. The section is concerned primarily with the direct cost of tax expenditures—that is, the revenue forgone because of them. It does not deal with their indirect costs, which could include economic efficiency losses and additional tax administration resources, and it does not address assessment of the benefits of tax expenditures. The fourth summarizes the current sta¬tus of tax expenditure reporting in developing econo¬mies, with some reference to advanced economies. The last section concludes.
Fiscal Management And Economic Reform In The People S Republic Of China
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Author : Christine Wong
language : en
Publisher:
Release Date : 1995
Fiscal Management And Economic Reform In The People S Republic Of China written by Christine Wong and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
Since 1979, economic reforms in the People's Republic of China have produced impressive gains in national income and living standards. The process, however, is not complete, and several aspects of the fiscal system need reform before the full benefits of a market economy can be realized. The government needs to be able to control revenue, expenditure, and the money supply. This can only be done if the Ministry of Finance is given greater powers to analyze the current economic situation, anticipate future changes, and guide economic reforms. This book deals with the complex nature of the market-oriented reform process in the world's largest country. Although the focus of the study is on fiscal policy and the broader realm of public finance, it also addresses other economy-wide reforms under implementation. In the long term, the success of the fiscal reforms will hinge crucially on the enterprise, price and financial sector reforms, and on current, or planned, structural reforms that promote market-based macromanagement.
Public Financial Management
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Author : Mr.Klaus-Walter Riechel
language : en
Publisher: International Monetary Fund
Release Date : 2002-02-01
Public Financial Management written by Mr.Klaus-Walter Riechel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-02-01 with Business & Economics categories.
The paper discusses reform in public financial management in small, resource-constrained economies such as the Pacific island countries (PICs). It describes the efforts undertaken by PICs in the past and assesses their results. A principal conclusion is that reform in public financial management needs to be defined against the capacity of countries to sustain it at the national level. This requires a careful definition of priorities for action and the determination of appropriate pacing and sequencing of reform. In this decision, achievement of the imperatives of expenditure control and sustainability of deficits is typically more important than exploitation of the scope for efficiency gains promised by "cutting edge" public financial management systems.
The International Handbook Of Public Financial Management
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Author : Richard Allen
language : en
Publisher: Springer
Release Date : 2013-08-15
The International Handbook Of Public Financial Management written by Richard Allen and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-15 with Business & Economics categories.
The Handbook is a virtual encyclopedia of public financial management, written by topmost experts, many with a background in the IMF and World Bank. It provides the first comprehensive guide to the subject that has been published in more than ten years. The book is aimed at a broad audience of academics/students, government officials, development agencies and practitioners. It covers both bread-and-butter topics such as the macroeconomic and legal framework for budgeting, budget preparation and execution, procurement, accounting, reporting, audit and oversight, as well as specialist subjects such as government payroll systems, local government finance, fiscal transparency, the management of fiscal risks, sovereign wealth funds, the management of state-owned enterprises, and political economy aspects of budgeting. The book sets out numerous examples and case studies describing good practice in public financial management, and is highly relevant for use in both advanced and developing countries.
Macro Fiscal Management Practices In Eastern And Southern Africa
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Author : Bryn Battersby
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-05
Macro Fiscal Management Practices In Eastern And Southern Africa written by Bryn Battersby and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-05 with Business & Economics categories.
This paper examines the institutional arrangements of the macro-fiscal function in 16 African countries. Most ministries of finance (MoFs) have established a macro-fiscal department or unit, but their functions, size, structure and outputs vary considerably. Based on a survey, we present data on staff size, functional scope and the forecasting performance of macro-fiscal departments and identify common challenges in the countries reviewed. Some MoFs perform many macro-fiscal functions, but actions of various kinds are needed to strengthen their macro-fiscal departments. This paper provides some guidance for policy-makers in the region for enhancing the quality and scope of macro-fiscal outputs.
Public Financial Management Systems Viet Nam
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Author : Asian Development Bank
language : en
Publisher: Asian Development Bank
Release Date : 2017-03-01
Public Financial Management Systems Viet Nam written by Asian Development Bank and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-01 with Business & Economics categories.
This report documents Viet Nam’s financial management systems covering the areas of budgeting, funds flow, accounting and reporting, and auditing systems. It also provides insights into the quality of the country’s internal control systems, staffing resource capacity, and information technology structure. The publication aims to enhance the understanding of project teams and consultants on public financial management systems with the objective of improving the quality of financial management assessments during project preparation. High-quality financial management assessments support project implementation through the identification and mitigation of key fiduciary risks and the implementation of appropriate mitigating actions and reforms.
Public Financial Management In Latin America
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Author : Mario Pessoa
language : en
Publisher: Inter-American Development Bank
Release Date : 2015-08-24
Public Financial Management In Latin America written by Mario Pessoa and has been published by Inter-American Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-24 with Political Science categories.
The efficiency, effectiveness, and transparency of public financial management in Latin America is critical for the supervision of public resources, fiscal stability, and sustainable economic development. In recent years, the countries of Latin America have embraced reforms in public financial management and have made many important advances; however, many challenges remain. This book brings together the knowledge and experiences of IMF and IDB staff and representatives from 16 governments in the region to document these reforms, and examines the experiences and lessons learned. It is a valuable resource for those looking at issues in public financial management.
Fiscal Management In Adjustment Lending
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Author : Jayati Datta Mitra
language : en
Publisher: World Bank Publications
Release Date : 1997-01-01
Fiscal Management In Adjustment Lending written by Jayati Datta Mitra and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-01-01 with Business & Economics categories.
This study analyzes the World Bank's experience with fiscal management in 250 adjustment operations in 86 countries. It examines the fiscal records in a sample of 26 countries grouped by region, portfolio characteristics, and economic traits. The study confirms that fiscal deficit reduction is associated with improved external balances and economic growth and that it takes sustained, long-term effort, and continual vigilance against reversals. Fiscal mismanagement, not exogenous shocks, was the principal cause of persistent budget deficits. The study offers the following recommendations for the Bank and its borrowers:1) Estimate the level of the sustainable deficit and provide guidelines for achieving it in Bank economic and sector work and adjustment lending. 2) Improve sequencing of tax reform. 3) Consider explicitly the role of the state and the appropriate mix of public/private provision of services in recommending public expenditure reform. 4) Include poverty alleviation and equity objectives in public expenditure reform. 5) Build adequate monitoring and performance indicators for both tax and expenditure reforms. 6) Enhance Bank-Fund coordination, in support of the Fund's lead role in giving fiscal advice, by strengthening the Bank's ability to analyze taxes and expenditures.