Challenges and Trajectories of Fiscal Policy and PFM Reform in CEE/CIS
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.
|Date of creation:||2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +48 22 206 29 00
Fax: +48 22 206 29 01
Web page: http://www.case-research.eu/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Van de Walle, D., 1996. "Infrastructure and Poverty in Vietnam," Papers 121, World Bank - Living Standards Measurement.
- Dollar, David & Kraay, Aart, 2001.
"Growth is good for the poor,"
Policy Research Working Paper Series
2587, The World Bank.
- António Afonso & Ludger Schuknecht & Vito Tanzi, 2005.
"Public sector efficiency: An international comparison,"
Springer, vol. 123(3), pages 321-347, June.
- Afonso, António & Schuknecht, Ludger & Tanzi, Vito, 2003. "Public sector efficiency: an international comparison," Working Paper Series 0242, European Central Bank.
- Flug, Karnit & Spilimbergo, Antonio & Wachtenheim, Erik, 1998.
"Investment in education: do economic volatility and credit constraints matter?,"
Journal of Development Economics,
Elsevier, vol. 55(2), pages 465-481, April.
- 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.
- Noss, Andrew, 1991. "Education and adjustment : a review of the literature," Policy Research Working Paper Series 701, The World Bank.
- Van de Walle, Dominique, 2000.
"Choosing rural road investments to help reduce poverty,"
Policy Research Working Paper Series
2458, The World Bank.
- van de Walle, Dominique, 2002. "Choosing Rural Road Investments to Help Reduce Poverty," World Development, Elsevier, vol. 30(4), pages 575-589, April.
- 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.
- Stefano Paternostro & Anand Rajaram & Erwin R. Tiongson, 2007.
"How Does the Composition of Public Spending Matter?,"
Oxford Development Studies,
Taylor & Francis Journals, vol. 35(1), pages 47-82.
- 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.
When requesting a correction, please mention this item's handle: RePEc:sec:cnrepo:0092. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Agata Kwiek)
If references are entirely missing, you can add them using this form.