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Public Financial Management and Fiscal Outcomes in sub-Saharan African Heavily-Indebted Poor Countries

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Author Info
Ezequiel Cabezon
Tej Prakash
Abstract

This paper examines, in a formal econometric framework, the linkages between public financial management and fiscal outcomes in sub-Saharan African countries. Similar analyses have been done for Latin America, Europe, and the United States, but none in the context of low-income countries. Using public financial management indicators, as measured in two recent assessments related to the Heavily-Indebted Poor Countries Initiative, this study shows that improving public financial management leads to better fiscal outcomes, as measured by the overall fiscal balance and external debt levels, after controlling for other characteristics that might alter fiscal outcomes.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/217.

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Length: 46 pages
Date of creation: 15 Sep 2008
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Handle: RePEc:imf:imfwpa:08/217

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Related research
Keywords: Financial management ; Sub-Saharan Africa ; Heavily indebted poor countries ; Fiscal sector ; Public sector ; Economic indicators ; External debt ; Economic models ; Fiscal policy ; Working Paper ;

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  6. Alt, James E. & Lassen, David Dreyer, 2006. "Fiscal transparency, political parties, and debt in OECD countries," European Economic Review, Elsevier, vol. 50(6), pages 1403-1439, August. [Downloadable!] (restricted)
  7. Brautigam, Deborah A & Knack, Stephen, 2004. "Foreign Aid, Institutions, and Governance in Sub-Saharan Africa," Economic Development and Cultural Change, University of Chicago Press, vol. 52(2), pages 255-85, January.
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  9. Farhan Hameed, 2005. "Fiscal Transparency and Economic Outcomes," IMF Working Papers 05/225, International Monetary Fund. [Downloadable!]
  10. Richard Allen & Isabell Adenauer & Kevin Fletcher & Sanjeev Gupta & Duncan Last & Gerd Schwartz & Shamsuddin Tareq, 2007. "Fiscal Management of Scaled-Up Aid," IMF Working Papers 07/222, International Monetary Fund. [Downloadable!]
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  13. Acemoglu, Daron & Johnson, Simon & Robinson, James A, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," CEPR Discussion Papers 4458, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  14. Nancy Birdsall, 2007. "Do No Harm: Aid, Weak Institutions and the Missing Middle in Africa," Development Policy Review, Overseas Development Institute, vol. 25(5), pages 575-598, 09. [Downloadable!] (restricted)
  15. Hamid Reza Davoodi & Vito Tanzi, . "Corruption, Growth, and Public Finances," IMF Working Papers 00/182, International Monetary Fund.
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