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Rethinking public financial management and budgeting in Greece: time to reboot?

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  • Vraniali, Efi

Abstract

This paper addresses the budgeting challenges posed at a national level especially at a time of fiscal crisis and suggests some policy prescriptions to improve the functioning of the Greek public financial system. It focuses on the Public Financial Management and budgeting framework. In that regard, the paper highlights the need for a strategic and comprehensive review of the system as a whole and stresses the importance of a coordinated and phased approach for the overhaul of the various system components. A set of tools and methods for reform is presented and analyzed aiming at a convergence with international best practices over the long run.

Suggested Citation

  • Vraniali, Efi, 2010. "Rethinking public financial management and budgeting in Greece: time to reboot?," LSE Research Online Documents on Economics 29097, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:29097
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    File URL: http://eprints.lse.ac.uk/29097/
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    References listed on IDEAS

    as
    1. Theodoros S. Papaspyrou, 2007. "Economic Policy in EMU: Community Framework and National Strategies – focus on Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 04, Hellenic Observatory, LSE.
    2. Christos J. Paraskevopoulos, 2007. "Social Capital and Public Policy in Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 09, Hellenic Observatory, LSE.
    3. Nikolaos Zahariadis, 2007. "Subsidising Europe’s Industry: is Greece the exception?," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 03, Hellenic Observatory, LSE.
    4. Dionyssis G. Dimitrakopoulos, 2007. "Institutions and the implementation of EU public policy in Greece: the case of public procurement," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 02, Hellenic Observatory, LSE.
    5. Zahariadis, Nikolaos, 2007. "Subsidising Europe’s industry: is Greece the exception?," LSE Research Online Documents on Economics 5633, London School of Economics and Political Science, LSE Library.
    6. Stelios Stavridis, 2007. "Anti-Americanism in Greece: reactions to the 11-S, Afghanistan and Iraq," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 06, Hellenic Observatory, LSE.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Public financial management framework; budgetary procedures; public expenditure; public sector reform;

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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