Reforming The Russian Budget System
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Reforming The Russian Budget System
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Author : Jack Diamond
language : en
Publisher:
Release Date : 2005
Reforming The Russian Budget System written by Jack Diamond and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Budget categories.
The Russian federal government has recently initiated a fundamental reform of its budget system, encompassing important policy, procedural, and institutional changes. This paper reviews this reform agenda with reference to the experience of industrial countries that over the past two to three decades have followed a similar reform path toward a more devolved budget management system. From this perspective, the importance of the strength of existing public expenditure management systems to accommodate increased devolution and the scope for employing decentralized agencies is explored. An assessment of the present Russian reform plans in light of this review reveals a number of concerns. First, the speed of the reforms contemplated appears overly ambitious when judged by the experience of other countries. Second, the preparedness of budget institutions is questionable. Third, change management capacity needs strengthening with a more carefully defined strategy. Last, in light of these concerns, it is argued that the scope and "big-bang" approach of the current reform plans may need reformulation into a more sequenced strategy with clearer reform priorities.
Budget System Reform In Transitional Economies
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Author : Jack Diamond
language : en
Publisher: International Monetary Fund
Release Date : 2002-02
Budget System Reform In Transitional Economies written by Jack Diamond 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 with Business & Economics categories.
This paper stresses the role of budget system reform in economies in transition as an essential basis for the implementation of effective fiscal policies. However, introducing such structural reforms in often unstable economic environments has not proved easy. Using Russia as a case study, the magnitude of the problems faced is documented, and the strategy of reform eventually adopted is critically reviewed. In conclusion, some lessons are drawn for other transitional countries undertaking similar reforms, and the future agenda for completing these reforms in Russia is indicated.
The New Russian Budget System
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Author : Mr.Jack Diamond
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2002-02-01
The New Russian Budget System written by Mr.Jack Diamond 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.
This paper documents the main elements of the new budget system established in the Russian Federation through its revised budget system law, or the Budget Code, of 2000. It critically examines the budget preparation, budget approval, and budget execution processes, as well as the financial management and planning procedures that underlie the Budget Code. Based on this analysis, recent developments are discussed and a future reform agenda is indicated.
Subnational Budgeting In Russia
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Author : Lev M. Freinkman
language : en
Publisher: World Bank Publications
Release Date : 1999-01-01
Subnational Budgeting In Russia written by Lev M. Freinkman 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 1999-01-01 with Business & Economics categories.
"Not only are Russia's regions economically diverse, but the policies that regional governments have adopted to deal with the strains of economic transition also vary widely. Some regions have generally embraced market reforms, while others have sought to preserve enclaves of socialism, with price restrictions, large subsidies, and barriers to trade." Reforms of Russia's budgetary system at the subnational level are vital to preserve macroeconomic stability, improve the efficiency and accountability of government, and enhance incentives for local and regional governments to vigorously support economic growth. Previous analytical and reform efforts have focused on possible changes at the federal level and in the system of center-region relations. An opportunity now exists to make progress by providing reform advice and conditional aid to policymakers at the regional and subregional level. This report focuses on opportunities for reform at the subnational level. It reviews recent trends in fiscal adjustment, budgeting, and government debt at the regional and local levels in Russia. It analyzes major problems and suggests a number of measures and performance indicators that could form part of a reform strategy initiated by the Government of Russia.
Russian Currency And Finance
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Author : Steve H. Hanke
language : en
Publisher: Routledge
Release Date : 2005-08-18
Russian Currency And Finance written by Steve H. Hanke and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-08-18 with Business & Economics categories.
As the new Russian state struggles with the transition to a market economy, the need for radical monetary reform becomes increasingly urgent. The choice of reform is crucial, for it will largely determine Russia's future economic performance. In order to break free of the lingering effects of Soviet central planning, the new Russian state needs a stable, convertible currency. Steve H. Hanke, Lars Jonung and Kurt Schuler propose that Russia establishes a currency board which would issue a Russian currency fully convertible with international currency, backed 100 per cent by international bonds. The international community would aid in establishing the currency board by providing the initial reserves. Early supplies of this new Russian currency would be distributed free to Russian citizens. The authors give detailed explanations of how the currency board could be established and how it would work.
Subnational Budgeting In Russia
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Author : Lev Freinkman
language : en
Publisher:
Release Date : 2014
Subnational Budgeting In Russia written by Lev Freinkman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Most previous fiscal reforms in Russia have focused on problems at the federal level or in the system of federal transfers to the regional governments. This report focuses instead on opportunities for reform at the subnational level. It reviews recent trends in fiscal adjustment, budgeting, and government debt at the regional and local levels in Russia. It analyzes major problems and suggests a number of measures and performance indicators that could form part of a reform strategy initiated by the Government of Russia.Key directions for subnational fiscal reform include the following.Clarification of Subnational Government Functions. Subnational governments need to complete the clarification of responsibilities between public and private sectors as well as between regional and municipal government levels. Both of these have direct implications for fiscal performance of subnational governments.Developing a Regulatory Framework. Subnational governments need to adopt regional and local laws and regulations that are consistent with federal laws and enhance the transparency, predictability, and accountability of the budget process. Laws and regulations should clarify responsibilities within regional and local governments and legislatures for budget preparation, approval, implementation, and control.Budget Consolidation. Major forms of off-budget activities (especially extrabudgetary funds, tax exemptions, budget guarantees, and noncash government operations) need to be reduced in scope and integrated within the regular budget.Budget Preparation and Expenditure Management. Necessary reforms cover several key areas: (i) reorganization of budget classification system; (ii) introduction of expenditure accounting on the commitment basis; (iii) establishing a treasury system of budget execution; (iv) expansion of competitive tendering for public procurement; (v) introduction of new budgeting principles in key sectors (such as education and health); (vi) improvements in budget preparation to reduce the need for budget sequestration; (vii) strengthening the budget audit function; and (viii) adoption of standards for budget disclosure.
Reforming Regional Local Finance In Russia
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Author : Jorge Martinez-Vazquez
language : en
Publisher: World Bank Publications
Release Date : 2006
Reforming Regional Local Finance In Russia written by Jorge Martinez-Vazquez 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 2006 with Business & Economics categories.
This publication examines the current state of Russia's system of government at regional and local level in relation to tax policy and the related reforms implemented over the past decade. It looks at the size and structure of jurisdictions, expenditure and revenue, transfers and borrowing; considers reform options based on international practices; and discusses likely challenges arising from the implementation of proposed intergovernmental reforms. This publication complements another World Bank Institute publication ('Russia's transition to a new federalism' (2001, ISBN 082134840X) which focuses on federal-regional relations and the impact of fiscal decentralisation.
Russian Economic Reform
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Author : James Leitzel
language : en
Publisher: Routledge
Release Date : 2005-06-22
Russian Economic Reform written by James Leitzel and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-06-22 with Business & Economics categories.
Transitions from socialism to capitalism are complex, both in theory and practice. Russian Economic Reform enables the reader to come to a much better understanding of these momentous changes, by providing a clear and accessible account of the major features of transition. It argues that attempts to portray the reform process is a disaster are misconceived, because they fail to take account of just how badly the pre-reform economy was doing. Many of the problems that are emerging now have their antecedents in the earlier economic system.
Russia
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Author : Weltbank
language : en
Publisher:
Release Date : 2012
Russia written by Weltbank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
This Report discusses the challenge of budget financing of core structural reforms, within a broader framework of fiscal management reforms in Russia. It argues that explicit financing of structural reforms is fully justifiable because these are the investments in the institutional infrastructure with a high rate of return. Furthermore, Russia currently appears to have fiscal room for some incremental spending. However, the number of simultaneous reform initiatives, should be kept limited to ensure that the accumulation of new liabilities do not undermine fiscal sustainability. In addition, the Government's commitment to explicit reform financing should be accompanied by additional steps in strengthening the fiscal management system. The adoption of formal fiscal rules could strengthen the government's ability to manage external shocks, as well as provide budget support for the reform process in a predictable and affordable way. The Report develops estimates for fiscal costs of three key structural reforms (in civil service, housing, and the pension system), reviews the feasibility of different reform options, and provides recommendations related to their planning and sequencing. Key structural reforms are seen as medium-term projects/programs, thus suggesting that implementation of these and other structural reforms, can be put in the context of medium-term expenditure framework (MTEF) that evolve in Russia. A general framework is developed for costing-out the direct fiscal effects of various reforms in the area of public administration. It is suggested that broad reforms in the core government administration, and in the civilian public sector at large, may be implemented within five to seven years, but should be differentiated by the scope of pay adjustment in various sub-sectors of civilian employment, complemented by significant staffing adjustments in the civilian public sector, as well as by at least, some staff reductions in the core government administration.
The Success Of Russian Economic Reforms
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Author : Brigitte Granville
language : en
Publisher: Royal Institute of International Affairs
Release Date : 1995
The Success Of Russian Economic Reforms written by Brigitte Granville and has been published by Royal Institute of International Affairs this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
In this book, Granville contends that Russia's difficulties in controlling its inflation rate were the result of economic reforms not going far enough. External financing never came and a full macrostabilization program was not implemented. The steady process of economic reform continues in Russia, nevertheless, following the collapse of the Soviet Union in 1991.