Fiscal Transparency And The Performance Of Government Financial Assets
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Transparency In Government Operations
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Author : Mr.J. D. Craig
language : en
Publisher: International Monetary Fund
Release Date : 1998-02-03
Transparency In Government Operations written by Mr.J. D. Craig 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 1998-02-03 with Business & Economics categories.
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Fiscal Transparency And The Performance Of Government Financial Assets
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Author : Mr.Mike Seiferling
language : en
Publisher: International Monetary Fund
Release Date : 2015-01-22
Fiscal Transparency And The Performance Of Government Financial Assets written by Mr.Mike Seiferling 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 2015-01-22 with Business & Economics categories.
Stock-flow adjustments are typically measured as the difference between changes in gross debt and deficits. These are interpreted as a proxy for unexplained fiscal discrepancies, and often associated with a lack of fiscal transparency. However, such measures fail to capture the role of financial assets and valuation changes and therefore do not correctly predict fiscal transparency. The purpose of this paper is to provide a more detailed exposition of stock-flow residuals and the relationship with fiscal transparency, highlighting government acquisition of equities and investment fund shares and their performance in secondary markets. The results suggest that the performance of government equity portfolios correlates with fiscal transparency to the extent that fully transparent governments are expected to generate between 6 and 8 percent higher returns on their equity portfolios than others. These findings suggest that the performance of government assets may be a promising area for future research of fiscal transparency and stock-flow residuals.
Manual On Fiscal Transparency
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Author : International Monetary Fund. Fiscal Affairs Department
language : en
Publisher: International Monetary Fund
Release Date : 2001
Manual On Fiscal Transparency written by International Monetary Fund. Fiscal Affairs Department 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 2001 with Business & Economics categories.
In preparing the Manual, a number of points have been taken into account. First, the Code is being implemented on a voluntary basis. To promote an appreciation of the rationale for the Code, and an understanding of its fiscal transparency requirements, the Manual sets out in detail the principles and practices included in the Code. However, because of the complexity of fiscal management systems, the Manual does not provide comprehensive directions on how all the good practices are to be put in place. Instead, it contains numerous references and website addresses that can assist with the practical implementation of the Code. Second, fiscal transparency is only one aspect of good fiscal management, and care is needed to distinguish fiscal transparency from two other key aspects, namely the efficiency of fiscal policy, and the soundness of public finances. Third, diversity of institutional backgrounds and capacity constraints to improving fiscal management are clearly recognized. For this reason, the Code is not a best practice standard. Rather, it is a set of good practices that can be implemented by most countries over the medium to longer term.
Standard For Automatic Exchange Of Financial Account Information In Tax Matters Second Edition
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2017-03-27
Standard For Automatic Exchange Of Financial Account Information In Tax Matters Second Edition written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-27 with categories.
This publication contains the following four parts: A model Competent Authority Agreement (CAA) for the automatic exchange of CRS information; the Common Reporting Standard; the Commentaries on the CAA and the CRS; and the CRS XML Schema User Guide.
Government Finance Statistics Manual 2001
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2001-12-19
Government Finance Statistics Manual 2001 written by International Monetary Fund 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 2001-12-19 with Business & Economics categories.
This Manual, which updates the first edition published in 1986, is a major advance in the standards for compilation and presentation of fiscal statistics. It is intended as a reference volume for compilers of government finance statistics, fiscal analysts, and other users of fiscal data. The Manual introduces accrual accounting, balance sheets, and complete coverage of government economic and financial activities. It covers concepts, definitions, classifications, and accounting rules, and provides a comprehensive framework for analysis, planning, and policy determination. To the extent possible, the Manual has been harmonized with the System of National Accounts 1993.
The Public Wealth Of Nations
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Author : Dag Detter
language : en
Publisher: Springer
Release Date : 2016-02-05
The Public Wealth Of Nations written by Dag Detter and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-05 with Social Science categories.
We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don’t worry about who owns those assets, worry about whether they are managed effectively. Why does this matter? Because despite the Thatcher/ Reagan economic revolution, the largest pool of wealth in the world – a global total that is much larger than the world’s total pensions savings, and ten times the total of all the sovereign wealth funds on the planet – is still comprised of commercial assets that are held in public ownership. If professionally managed, they could generate an annual yield of 2.7 trillion dollars, more than current global spending on infrastructure: transport, power, water, and communications. Based on both economic research and hands-on experience from many countries, the authors argue that publicly owned commercial assets need to be taken out of the direct and distorting control of politicians and placed under professional management in a ‘National Wealth Fund’ or its local government equivalent. Such a move would trigger much-needed structural reforms in national economies, thus resurrect strained government finances, bolster ailing economic growth, and improve the fabric of democratic institutions. This radical, reforming book was named one of the "Books of the Year".by both the FT and The Economist.
Fiscal Transparency Handbook 2018
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Author : Sailendra Pattanayak
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-16
Fiscal Transparency Handbook 2018 written by Sailendra Pattanayak 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 2018-04-16 with Business & Economics categories.
The IMF’s Fiscal Transparency Code is the international standard for disclosure of information about public finances and is the centerpiece of the global architecture on fiscal transparency. The Fiscal Transparency Handbook (2018) provides detailed guidance on the implementation of the new Fiscal Transparency Code, which was approved by the IMF Board in 2014. It explains why each principle of the Code is important and describes current trends in implementation of the principles, noting relevant international standards as well. Selected country examples are also provided.
Corporate Governance Of State Owned Enterprises
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Author : Organisation for Economic Co-operation and Development
language : en
Publisher: Org. for Economic Cooperation & Development
Release Date : 2005
Corporate Governance Of State Owned Enterprises written by Organisation for Economic Co-operation and Development and has been published by Org. for Economic Cooperation & Development this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
This publication gives a comparative review of corporate governance practices in relation to state-owned enterprises in OECD countries, including scale and organisation, board composition and functions, relationships with non-state shareholders, the role of stakeholders transparency and disclosure.
Fiscal Transparency Initiative
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-01-29
Fiscal Transparency Initiative 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 2019-01-29 with Nature categories.
This paper integrates into the Fiscal Transparency Code (FTC) a new fourth pillar (Pillar IV) on natural resource revenue management. This completes the pending update to the IMF's FTC, as set out by staff in 2014 (see IMF 2014a).
Public Sector Balance Sheet Strength And The Macro Economy
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Author : Mr.Seyed Reza Yousefi
language : en
Publisher: International Monetary Fund
Release Date : 2019-08-06
Public Sector Balance Sheet Strength And The Macro Economy written by Mr.Seyed Reza Yousefi 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 2019-08-06 with Business & Economics categories.
This paper introduces concepts of public sector balance sheet (PSBS) strength, taking into account different aspects of what governments own in addition to what they owe. It develops measures of PSBS strength and investigates their macroeconomic implications. Empirical estimations show that in their pricing of sovereign bonds, financial markets account for government assets and net worth in addition to their liabilities. Furthermore, economies with stronger public sector balance sheets experience shallower recessions and recover faster in the aftermath of economic downturns. This faster return to growth can be explained by the greater space for countercyclical fiscal policy in countries with stronger balance sheets.