Public Financial Management and Fiscal Performance

• Tác giả: Steve Loris Gui-Diby
• Ngôn ngữ: eng
• Ký hiệu phân loại: 658.15 Financial management
• Thông tin xuất bản: Taylor and Francis, 2023
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 237348
• Chủ đề: 1. BUDGET; 2. FISCAL PERFORMANCE; 3. PANEL DATA; 4. PUBLIC FINANCIAL MANAGEMENT

Tóm tắt

This paper attempts to assess the impact of the practical public financial management (PFM) dimensions on fiscal performance in 86 countries observed between 2005 and 2019. Based on augmented panel data models, we conclude that internal audit and the availability of information on resources received by service delivery units contribute to improve fiscal performance, proxied by the primary fiscal balance. These results are confirmed by instrumental variable (IV) estimations. Additional analyses show that an increase in the quality of the classification of the budget and the transparency of inter-governmental fiscal relations do significantly improve the overall fiscal balance. These findings strengthen the need for PFM reforms to restore fiscal sustainability.