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Reforming Public FinancePublic Finance and PFM: A New Approach

In: Reforming Public Finances

Author

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  • Richard Allen

Abstract

This chapter sets out a new approach to public finance reform. It summarizes recent experience showing that big bang reforms tend to fail; that new legal frameworks, while beneficial, do not necessary translate into better performance; that sequenced reform matters; and that political commitment is crucial. It highlight recent experience showing that the performance of reform initiatives in low capacity countries has been especially poor. This book attempts to measure the “feasibility” of reform, through a series of ten simple indictors which it then applies in 70 illustrative reform areas. Finally, the chapter draws out eight key lessons from the book and some key policy implications.

Suggested Citation

  • Richard Allen, 2026. "Reforming Public FinancePublic Finance and PFM: A New Approach," Springer Books, in: Reforming Public Finances, chapter 3, pages 37-47, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-12388-6_3
    DOI: 10.1007/978-3-032-12388-6_3
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