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A Review of Capital Budgeting Practices


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  • Davina F. Jacobs


A key challenge in government budgeting is to define an appropriate balance between current and capital expenditures. Budgeting for government capital investment also remains not well-integrated into the formal budget preparation process in many countries. This paper aims to provide an overview of past and current budgeting practices for public investment. The study will also provide a comparison between the budget practices between low-income countries and developed countries and make a series of recommendations for how to ensure efficient integration of capital planning and budget management in low-income countries.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/160.

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Length: 24
Date of creation: 01 Jun 2008
Date of revision:
Handle: RePEc:imf:imfwpa:08/160

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Postal: International Monetary Fund, Washington, DC USA
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Keywords: Budgets; Public investment; Government expenditures; Budgetary policy; National budgets; Low-income developing countries; expenditures; capital expenditures; expenditure; capital budget; capital expenditure; public financial management; recurrent expenditures; dual budgeting; capital investment; budget management; financial management; current expenditures; budget preparation; budget planning; government budgeting; budget preparation process; budget estimates; accrual accounting; resource allocation; public expenditure; extrabudgetary funds; medium-term budget; current expenditure; budgetary management; budget execution; public finance; budget practices; public financial management system; budget support; budget system; medium-term expenditure frameworks; capital investments; expenditure programs; budget documents; budgeting process; budget process; capital expenditure decisions; budget systems; public investment programs; government accounting; financial management system; current budget; government accounts; poverty-reducing expenditures; budgetary systems; dual budgeting system; investment expenditures; expenditure decisions; national accounts; capital budget planning; expenditure items; budgetary incentives; expenditure frameworks; government finance; annual budgets; fiscal policy; recurrent ? expenditures; budget law; financial management systems; financial management information systems; budgetary allocation; budget constraint; items of expenditures; budgetary outcomes; budget structure; budget monitoring; public financial management systems; accrual budgeting; public expenditure reviews; annual budgeting; fiscal discipline; budget year; budgetary resources; operational expenditures; budget deficits; expenditure management systems; budget documentation; budget authority; government budgets; budget allocation; allocation of expenditure; government budget management; government finance statistics; budgetary institutions; budget reform; expenditure controls; budget planning systems; budget ? process; expenditure management; social expenditures; government finances; central budget; financial management information; public finance management; managing public expenditure; budgetary processes; public expenditure management systems; annual budgeting process; budgetary system; public spending; medium-term expenditure; types of expenditures; budget resources; public expenditure management;

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  1. Marco Bassetto & Thomas Sargent, 2005. "Politics and Efficiency of Separating Capital and Ordinary Government Budgets," NBER Working Papers 11030, National Bureau of Economic Research, Inc.
  2. David Webber, 2007. "Integrating Current and Development Budgets: A Four-Dimensional Process," OECD Journal on Budgeting, OECD Publishing, vol. 7(2), pages 93-107.
  3. Ian Lienert, 2003. "A Comparison Between Two Public Expenditure Management Systems in Africa," IMF Working Papers 03/2, International Monetary Fund.
  4. Ian Lienert, 2003. "A Comparison Between Two Public Expenditure Management Systems in Africa," OECD Journal on Budgeting, OECD Publishing, vol. 3(3), pages 35-66.
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Cited by:
  1. Era Dabla-Norris & Jim Brumby & Annette Kyobe & Zac Mills & Chris Papageorgiou, 2012. "Investing in public investment: an index of public investment efficiency," Journal of Economic Growth, Springer, vol. 17(3), pages 235-266, September.


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