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Challenges and Trajectories of Fiscal Policy and PFM Reform in CEE/CIS

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  • Branka Andjelkovic
  • Alexander Chubrik
  • Marek Dabrowski
  • Roman Mogilevsky
  • Irina Sinitsina
  • Przemyslaw Wozniak

Abstract

The purpose of this study is to provide an overview of fiscal policies and PFM reforms in 7 countries in the Western Balkans and 12 countries in the CIS, including major macroeconomic and poverty trends, fiscal policy, the size and role of the public sector, public expenditure management and its linkage to policy development, the organization of budget processes on the central and local levels, the role of various actors and tools in PFM, including civil society and the international donor community. The period of 2003-2007 was characterized by an extraordinary high rate of economic growth, both worldwide and in the CEE/CIS region. This created macroeconomic room for meeting numerous development challenges: reducing poverty and inequality, improving the quality and coverage of public services, upgrading infrastructure, and advancing various reforms, including those related to PFM. However, the economic situation deteriorated dramatically in 2008 as a result of the global financial crisis, with deep recession hitting most of the countries in 2009 and bleak perspectives for subsequent years. It remains to be seen whether the crisis situation will force governments to speed up necessary reforms. In the PFM area major tasks concern lengthening fiscal planning horizon and gradual movement toward performance oriented budgeting the measure which can allow better expenditure targeting and decrease volatility in expenditure allocation), increasing budget transparency and creating real room for civil society involvement into a budget process. However, the reforms must also involve a broadly defined governance sphere, i.e. improving transparency and accountability of government, modernization of civil service, decentralization, including building a genuine system of local and regional self-government, and other similar measures to improve quality of public services and social policy interventions.

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Bibliographic Info

Paper provided by CASE-Center for Social and Economic Research in its series CASE Network Reports with number 0092.

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Length: 177 Pages
Date of creation: 2010
Date of revision:
Handle: RePEc:sec:cnrepo:0092

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Keywords: public finance management; fiscal policy; Central and Eastern Europe; Western Balkans; Commonwealth of Independent States; social policies; social services; children and families;

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  1. Van de Walle, Dominique, 2000. "Choosing rural road investments to help reduce poverty," Policy Research Working Paper Series 2458, The World Bank.
  2. Karnit Flug & Antonio Spilimbergo & Erik Wachtenheim, 1996. "Investment in Education: Do Economic Volatility and Credit Constraints Matter?," Research Department Publications 4000, Inter-American Development Bank, Research Department.
  3. Noss, Andrew, 1991. "Education and adjustment : a review of the literature," Policy Research Working Paper Series 701, The World Bank.
  4. Landau, Daniel, 1986. "Government and Economic Growth in the Less Developed Countries: An Empirical Study for 1960-1980," Economic Development and Cultural Change, University of Chicago Press, vol. 35(1), pages 35-75, October.
  5. Van de Walle, D., 1996. "Infrastructure and Poverty in Vietnam," Papers 121, World Bank - Living Standards Measurement.
  6. Paternostro, Stefano & Rajaram, Anand & Tiongson, Erwin R., 2005. "How does the composition of public spending matter?," Policy Research Working Paper Series 3555, The World Bank.
  7. Dollar, David & Kraay, Aart, 2002. " Growth Is Good for the Poor," Journal of Economic Growth, Springer, vol. 7(3), pages 195-225, September.
  8. António Afonso & Ludger Schuknecht & Vito Tanzi, 2005. "Public sector efficiency: An international comparison," Public Choice, Springer, vol. 123(3), pages 321-347, June.
  9. Herrera, Santiago & Pang, Gaobo, 2005. "Efficiency of public spending in developing countries : an efficiency frontier approach," Policy Research Working Paper Series 3645, The World Bank.
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