IDEAS home Printed from https://ideas.repec.org/b/ecr/col013/48846.html
   My bibliography  Save this book

Institutional transformation and strengthening of Latin America’s ministries of finance: From control to the strategic use of public resources for development

Editor

Listed:
  • ECLAC

Author

Listed:
  • Arenas de Mesa, Alberto
  • Mosqueira, Edgardo

Abstract

The institutional development of ministries of finance determines their capacities to achieve fiscal policy objectives (sustainability) and contribute to economic policy objectives. This study analyses the institutional transformation of ministries of finance in Latin America. Methodologically, it examines the functions assigned by law (legal-regulatory frameworks). Analytically, it proposes two categories of functional models (traditional models focused on spending control and modern ones focused on strategic spending management). Successful institutional strengthening processes have at least four dimensions: development of regulations, processes, and methodologies; recruiting and training of human talent; the development and implementation of digital government tools; and the financial resources to develop these dimensions. The COVID-19 pandemic has exposed the weaknesses suffered by institutions in their capacities to meet economic and social challenges. This study highlights the need to close gaps in the institutional development of ministries of finance and move away from a traditional functional model towards a more modern one, in order to tackle challenges of macroeconomic and fiscal policy and quality and inclusion in public services.

Suggested Citation

  • Arenas de Mesa, Alberto & Mosqueira, Edgardo, 2023. "Institutional transformation and strengthening of Latin America’s ministries of finance: From control to the strategic use of public resources for development," Coediciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 48846 edited by Eclac, July.
    • Handle: RePEc:ecr:col013:48846
    as

    Download full text from publisher

    File URL: http://repositorio.cepal.org/handle/11362/48846
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. repec:idb:brikps:9152 is not listed on IDEAS
    2. Pessino, Carola & Izquierdo, Alejandro & Vuletin, Guillermo, 2018. "Better Spending for Better Lives: How Latin America and the Caribbean Can Do More with Less," IDB Publications (Books), Inter-American Development Bank, number 9152.
    3. Manning, Nick & Mukherjee, Ranjana & Gokcekus, Omer, 2000. "Public officials and their institutional environment - an analytical model for assessing the impact of institutional change on public sector performance," Policy Research Working Paper Series 2427, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arenas de Mesa, Alberto & Mosqueira, Edgardo, 2023. "Institutional transformation and strengthening of Latin America’s ministries of finance: From control to the strategic use of public resources for development," Documentos de Proyectos 48846, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Minogue, Martin, 2005. "Apples and Oranges: Problems in the Analysis of Comparative Regulatory Governance," Centre on Regulation and Competition (CRC) Working papers 30589, University of Manchester, Institute for Development Policy and Management (IDPM).
    3. Cusato Novelli, Antonio & Barcia, Giancarlo, 2021. "Sovereign Risk, Public Investment and the Fiscal Policy Stance," Journal of Macroeconomics, Elsevier, vol. 67(C).
    4. António Afonso & Gabriela Baquero Fraga, 2024. "Government spending efficiency in Latin America," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 51(1), pages 127-160, February.
    5. Paola Azar & Gabriela Sicilia, 2021. "An assessment of pupil and school performance in public primary education in Uruguay," Documentos de Trabajo (working papers) 21-22, Instituto de Economía - IECON.
    6. Francis Y. Owusu, 2012. "Organizational culture and public sector reforms in a post–Washington consensus era: Lessons from Ghana’s good reformers," Progress in Development Studies, , vol. 12(2-3), pages 135-151, July.
    7. Ranjana Mukherjee & Omer Gokcekus & Nick Manning & Pierre Landell-Mills, 2001. "Bangladesh : The Experience and Perceptions of Public Officials," World Bank Publications - Books, The World Bank Group, number 13861, December.
    8. Balmori de la Miyar, Jose Roberto & Hoehn-Velasco, Lauren & Silverio-Murillo, Adan, 2021. "Druglords don’t stay at home: COVID-19 pandemic and crime patterns in Mexico City," Journal of Criminal Justice, Elsevier, vol. 72(C).
    9. Altamirano Montoya, Álvaro & Oliveri, María Laura & Bosch, Mariano & Tapia Troncoso, Waldo, 2023. "Calculating the Redistributive Impact of Pension Systems in LAC," IDB Publications (Working Papers) 13185, Inter-American Development Bank.
    10. -, 2020. "Economic Survey of Latin America and the Caribbean 2020: Main conditioning factors of fiscal and monetary policies in the post-COVID-19 era," Estudio Económico de América Latina y el Caribe, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 46071 edited by Eclac, September.
    11. Aggarwal, Raj & Goodell, John W., 2013. "Political-economy of pension plans: Impact of institutions, gender, and culture," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 1860-1879.
    12. Catherine Ragasa, 2016. "Organizational and Institutional Barriers to the Effectiveness of Public Expenditures: The Case of Agricultural Research Investments in Nigeria and Ghana," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 28(4), pages 660-689, September.
    13. Jorge Puig & Alberto Porto, 2022. "On the fiscal behavior of subnational governments. A long-term vision for Argentina," Asociación Argentina de Economía Política: Working Papers 4588, Asociación Argentina de Economía Política.
    14. Omar A. Guerrero & Gonzalo Castañeda, 2021. "Quantifying the coherence of development policy priorities," Development Policy Review, Overseas Development Institute, vol. 39(2), pages 155-180, March.
    15. World Bank, 2002. "Brazil : The New Growth Agenda, Volume 2. Detailed Report," World Bank Publications - Reports 15287, The World Bank Group.
    16. Altamirano, Alvaro & Oliveri, María Laura & Bosch, Mariano & Tapia, Waldo, 2023. "Calculating the redistributive impact of pension systems in LAC," LSE Research Online Documents on Economics 120684, London School of Economics and Political Science, LSE Library.
    17. Omer Gokcekus & Nick Manning & Ranjana Mukherjee & Raj Nallari, 2001. "Institutional Environment and Public Officials' Performance in Guyana," World Bank Publications - Books, The World Bank Group, number 13944, December.
    18. Ragasa, Catherine & Babu, Suresh & Abdullahi, Aliyu Sabi & Abubakar, Baba Yusuf, 2010. "Strengthening innovation capacity of Nigerian agricultural research organizations:," IFPRI discussion papers 01050, International Food Policy Research Institute (IFPRI).
    19. Dick Durevall, 2001. "Reform of the Malawian Public Sector: Incentives, Governance and Accountability," WIDER Working Paper Series DP2001-109, World Institute for Development Economic Research (UNU-WIDER).
    20. Minogue, Martin, 2005. "Apples and oranges: problems in the analysis of comparative regulatory governance," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(2-3), pages 195-214, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecr:col013:48846. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Biblioteca CEPAL (email available below). General contact details of provider: https://edirc.repec.org/data/eclaccl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.