Página 1 dos resultados de 306 itens digitais encontrados em 0.119 segundos

Beyond Legal Origin and Checks and Balances : Political Credibility, Citizen Information, and Financial Sector Development

Keefer, Philip
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
65.89%
The existing literature emphasizes and contrasts the role of political checks and balances and legal origin in determining the pace of financial sector development. This paper expands substantially on one aspect of this debate: the fact that government actions that promote financial sector development, whether prudent financial regulation or secure property and contract rights, are public goods and sensitive to political incentives to provide public goods. Tests of hypotheses emanating from this argument yield four new conclusions. First, two key determinants of those incentives-the credibility of pre-electoral political promises and citizen information about politician decisions-systematically promote financial sector development. Second, these political factors, along with political checks and balances, operate in part through their influence on the security of property rights, an argument asserted but not previously tested. Third, contrary to findings elsewhere in the literature, the political determinants of financial sector development are significant even in the presence of controls for legal origin. Finally...

Sudan : World Bank Review of 2008 Budget Performance and 2009 Budget Preliminary Analysis

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
35.89%
As a follow-up to the first Public Expenditure Review (PER), this note reviews fiscal management by the Government of National Unity (GoNU) through 2008 budget performance, including pro-poor spending, and how do its main features compare to the fiscal management under the first phase of the post-CPA interim period (2005-07)? The note also runs through the highlights of the key features of the GoNU 2009 budget and what has been the impact of the global crisis on the budget performance through the first quarter. The main objective is to highlight fiscal lessons for the remaining period of the post-CPA interim period. The note is structured around the following six sections: review of the economic assumptions underlying the 2008 budgets, aggregate fiscal performance, revenue performance, expenditure performance, pro-poor spending, and the 2009 budget analysis followed by actual outturns through the first quarter.

Republic of Sierra Leone Public Expenditure and Financial Accountability : Performance Assessment Report 2010, Sub-National Governments (Local Councils)

Mulit Donor Budget Support Partners
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
35.95%
This Public Financial Management (PFM) Performance Assessment Report is based on the Public Expenditure and Financial Accountability (PEFA) PFM Performance Measurement Framework, Sub National Level, which includes a performance rating on 32 indicators covering the entire PFM cycle in Local Government, as in Sierra Leone, and assesses impact on budget goals. This assessment is intended to provide a comprehensive, integrated and candid assessment of Sierra Leone s PFM at the local council level, and to make recommendations for improving the local council PFM framework, institutional performance and capacity building.

A Review of the Political Economy of Governance: From Property Rights to Voice

Keefer, Philip
Fonte: World Bank, Washington, D.C. Publicador: World Bank, Washington, D.C.
EN_US
Relevância na Pesquisa
45.63%
Keefer reviews progress made in understanding the effects of different dimensions of governance on economic development, and the sources of good governance. The term governance has been used to embrace concepts that are heterogeneous both with respect to their effects on economic development and their genesis. Future progress in developing policy responses to bad governance will depend on separately examining these heterogeneous elements-the security of property rights, the quality of bureaucratic performance, corruption, voice, and accountability. Future progress will also depend on explicitly linking problems of governance to the overarching political environment and the incentives of governments to correct those problems.

The Politics of Russian Enterprise Reform : Insiders, Local Governments, and the Obstacles to Restructuring

Desai, Raj M.; Goldberg, Itzhak
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Artigo de Revista Científica
EN_US
Relevância na Pesquisa
35.9%
Russia and other countries in the commonwealth of independent states that have implemented voucher privatization programs have to account for the puzzling behavior of insiders manager-owners-who, in stripping assets from the firms they own, appear to be stealing from one pocket to fill the other. This article suggests that asset stripping and the absence of restructuring result from interactions between insiders and subnational governments in a particular property rights regime, in which the ability to realize value is limited by uncertainty and illiquidity. As the central institutions that govern the Russian economy have ceded their powers to the provinces, regional and local governments have imposed a variety of distortions on enterprises to protect local employment. To disentangle these vicious circles of control, this article considers three sets of institutional changes: adjustments to the system of fiscal federalism by which subnational governments would be allowed to retain tax revenues generated locally; legal improvements in the protection of property rights; and the provision of mechanisms for restructuring and ownership transformation in insider-dominated firms. The aim of these reforms would be to change the incentives that local governments...

Democracy, Public Expenditures, and the Poor : Understanding Political Incentives for Providing Public Services

Keefer, Philip; Khemani, Stuti
Fonte: Oxford University Press on behalf of the World Bank Publicador: Oxford University Press on behalf of the World Bank
Tipo: Artigo de Revista Científica
EN_US
Relevância na Pesquisa
45.81%
The incentives of politicians to provide broad public goods and reduce poverty vary across countries. Even in democracies, politicians often have incentives to divert resources to political rents and private transfers that benefit a few citizens at the expense of many. These distortions can be traced to imperfections in political markets that are greater in some countries than in others. This article reviews the theory and evidence on the impact on political incentives of incomplete information for voters, the lack of credibility of political promises, and social polarization. The analysis has implications for policy and for reforms to improve public goods provision and reduce poverty.

Public Debt Management and Macroeconomic Stability : An Overview

Montiel, Peter J.
Fonte: Oxford University Press on behalf of the World Bank Publicador: Oxford University Press on behalf of the World Bank
Tipo: Artigo de Revista Científica
EN_US
Relevância na Pesquisa
36.1%
Recent research suggests that management of the public sector debt can have important effects on a country macroeconomic performance. This Public debt management and macroeconomic stability article provides an overview of the factors that the recent literature has identified as important in determining the optimal composition of the public debt. Based on this analysis, it attempts to establish general guidelines for public debt management in emerging economies. To retain market access and promote domestic financial market development, governments should generally finance themselves at market rates using a wide variety of securities. Beyond this general principle, the optimal composition of the public debt involves a tradeoff between enhancing the government anti-inflationary credibility and reducing the vulnerability of its budget to macroeconomic shocks. Consequently, the optimal composition of the debt depends on a country circumstances. Debt should be heavily weighted toward long-term nominal securities for governments that have anti-inflationary credibility and toward long-term indexed debt for those that do not.

Political Budget Cycles and the Organization of Political Parties

Hanusch, Marek; Keefer, Philip
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36%
This paper introduces a new explanation for political budget cycles: politicians have stronger incentives to increase spending around elections in the presence of younger political parties. Previous research has shown that political budget cycles are larger when voters are uninformed about politician characteristics and when politicians are less credible. The effects of party age can be traced to organizational differences between younger and older parties that also affect voter information and politician credibility. Parties organized around particular individuals, rather than around policy labels or a party machine, are less likely to survive the departure of party leaders, to adopt organizational attributes that promote voter information and political credibility, and to limit political budget cycles. Previous research has also shown larger political budget cycles in younger democracies. Evidence presented here indicates that party age accounts for this effect.

Fiscal Implications of the 18th Amendment : The Outlook for Provincial Finances

Pasha, Aisha Ghaus
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
35.92%
Following the transition to democracy in 2008, two very important political developments took place. These were the announcement of the 7th National Finance Commission Award, which was agreed upon in December 2009 in Lahore, Pakistan, and the unanimous ratification by Parliament of the 18th Amendment to the Constitution in April 2010. Both developments have the potential of fundamentally restructuring the way Pakistan is governed in the future. This paper is divided into four sections. The first provides a quick overview of the 18th Amendment and Its Major Fiscal Implications on Provincial Governments, including new functional responsibilities and institutions and financing of new responsibilities. The 18th Amendment brought important institutional changes and the fiscal powers of the provinces have been enhanced. As a result, the 18th Amendment will lead to a more balanced and decentralized structure of government of Pakistan and to an enhanced empowerment by the provinces. The second section provides an outlook for provincial finances and trends in fiscal variables and discusses borrowing and debt levels and ways to raise provincial resources. Under the 18th Amendment...

Government of Karnataka Public Financial Management Reform Action Plan, 2014, Volume 1. Main Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
45.95%
The main report comprises the following chapters: executive summary provides the overall view of the reform action plan. Chapter one outlines the background, scope and methodology for the study; chapter two outlines the overview of the state finances; chapter three describe the accomplishments made against the 2004 agreed PFMA action plan; chapter four provides an overview of the analysis, gaps and recommendations made in the study; chapter five describes the way forward for implementation of the action plan; annex one: PFM reform action plan - 2014 contains a thematic-wise plan outlining the actions to be taken, the responsible department for the actions, and the expected timeframe for completing the actions. The detailed analysis of the issues and the logic for the action plan are provided in the respective sections of the appendix; annex two: 2004 PFMA action plan, outlines the current status of action taken on 2004 PFMA action plan: this contains the action plan as proposed in the 2004 report, updated with the current status of actions in the identified areas. In case where the actions have been taken and completed by the Government of Karnataka...

Government of Karnataka Public Financial Management Reform Action Plan, 2014, Volume 2. Appendix

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
45.77%
The main report comprises the following chapters: executive summary provides the overall view of the reform action plan. Chapter one outlines the background, scope and methodology for the study; chapter two outlines the overview of the state finances; chapter three describe the accomplishments made against the 2004 agreed PFMA action plan; chapter four provides an overview of the analysis, gaps and recommendations made in the study; chapter five describes the way forward for implementation of the action plan; annex one: PFM reform action plan - 2014 contains a thematic-wise plan outlining the actions to be taken, the responsible department for the actions, and the expected timeframe for completing the actions. The detailed analysis of the issues and the logic for the action plan are provided in the respective sections of the appendix; annex two: 2004 PFMA action plan, outlines the current status of action taken on 2004 PFMA action plan: this contains the action plan as proposed in the 2004 report, updated with the current status of actions in the identified areas. In case where the actions have been taken and completed by the Government of Karnataka...

Mongolia Public Financial Management Performance Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Relatório
EN_US
Relevância na Pesquisa
35.89%
This public financial management performance report (PFM-PR) is the first assessment of Mongolia’s PFM system using the public expenditure and financial accountability (PEFA) framework. The report aims principally to establish an objective baseline measure of current PFM performance, highlighting areas of absolute and relative strength and weakness, thereby enabling a stock-taking of over a decade of PFM reforms in Mongolia and guiding the government in its reform priorities. The assessment covers PFM at the budgetary central government level. The PEFA is an evidence-based methodology that measures the performance of a country’s PFM system at a particular point in time using a set of standardized indicators. The assessment is done on six dimensions of an open and orderly PFM system identified by the framework, which are: credibility of the budget; comprehensiveness and transparency; policy-based budgeting; predictability and control in budget execution; accounting, recording, and reporting; and external scrutiny and audit. This PEFA assessment will complement the considerable work that has already taken place on public expenditure management...

Public Officials and Their Institutional Environment : An Analytical Model for Assessing the Impact of Institutional Change on Public Sector Performance

Manning, Nick; Mukherjee, Ranjana; Gokcekus, Omer
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
45.77%
To perform well, public officials must be confident enough about the future, to be able to see a relationship between their efforts, and an eventual outcome. Their expectations are shaped by their institutional environment. If the rules are not credible, or are unlikely to be enforced, of if they expect policies to be contradicted, or resources to flow unpredictably, results will be uncertain, so there is little point in working purposefully. The authors present an analytical framework, used to design a series of surveys of public officials' views of their institutional environment, and to analyze the information generated in fifteen countries. They describe how survey results help map public sector's strengths, and weaknesses, and offer an approach to identifying potential payoffs from reforms. The framework emphasizes how heterogeneous incentives, and institutional arrangements are within he public sector. It emphasizes how important it is for policymakers to base decisions on information (not generalizations) that suggests what is most likely to work...

Pakistan, Sindh Province - Public financial management accountability assessment

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Integrated Fiduciary Assessment
ENGLISH
Relevância na Pesquisa
35.95%
This report presents the public financial management and accountability assessment (PFMAA) for Pakistan's Sindh province. The assessment uses the public expenditure and financial accountability (PEFA) 2005 framework, which comprises 31 performance indicators to evaluate: (i) the six core public financial management (PFM) dimensions (credibility of the budget; transparency and comprehensiveness; policy-based budgeting; predictability and control in budget execution; accounting, recording, and reporting; and external scrutiny), and (ii) the extent to which donor practices and the management of donor funds affect the PFM systems in the country. This assessment report highlights the likely impact of PFM weaknesses on budgetary outcomes, aggregate fiscal discipline, the strategic allocation of resources, and efficient service delivery.

Republic of Panama : Public Expenditure and Financial Accountability; Panama - Informe del desempeno de la gestion de las finanzas publicas (PEFA)

World Bank; Inter-American Development Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH; EN_US
Relevância na Pesquisa
35.89%
Panama's public financial management (PFM) system displays several strengths with respect to the fiscal position, debt management, and payroll administrative controls, but from a systemic perspective budget preparation and budget credibility issues undermine the efficiency of sectoral investment plans and make it difficult to advance on other improvements in the public sector. An efficient and transparent allocation of budgetary resources allows the government to achieve value for money in delivering public services. This assessment is undertaken at the request of the Government of Panama (GoP) which is in the process of reforming and modernizing its public finances, and is therefore interested in establishing both a baseline for future PFM performance measures and the degree of management alignment to internationally accepted best practices. The public expenditure and financial accountability (PEFA) methodology provides relevant information on current management and will allow establishment or adjustment of a reform strategy to improve PFM quality. This PEFA assessment provides a reference and a baseline for two projects and a baseline for the GoP to measure progress of the current reform. The projects are: (i) the program to strengthen fiscal management financed by Inter-American Development Bank (IADB)...

A New Model for Market-Based Regulation of Subnational Borrowing : The Mexican Approach

Giugale, Marcelo; Korobow, Adam; Webb, Steven
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research; Publications & Research :: Policy Research Working Paper
EN_US
Relevância na Pesquisa
35.9%
Faced with weak sub-national finances that pose a risk to macroeconomic stability, Mexico's federal government in April 2000 established an innovative incentive framework to bring fiscal discipline to state and municipal governments. That framework is based on two pillars: an explicit renunciation of federal bail-outs, and a Basel-consistent link between the capital-risk weighting of bank loans to sub-national governments, and the borrower's credit rating. In theory, this new regulatory arrangement should reduce moral hazard among banks and their state, and municipal clients; differentiate interest rates on the basis of the borrower's creditworthiness; and, elicit a strong demand for institutional development at the sub-national level. But its access will depend on three factors critical to implementation: 1) Whether markets find the federal commitment not to bail out defaulting sub-national governments credible. 2) Whether sub-national governments have access to financing other than bank loans. 3) How well bank capital rules are enforced.

From Privilege to Competition : Unlocking Private-Led Growth in the Middle East and North Africa

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research
EN_US
Relevância na Pesquisa
45.84%
The report starts with an introductory chapter that sets the stage for the issues and provides a short historical background on the development of the private sector in Middle East and North Africa (MENA), drawing on anecdotes and stories heard from many entrepreneurs and public officials consulted throughout the region during the preparation of this report. The core of the analysis is then presented in three parts. Part one assesses the performance of private sector development in the region from a macroeconomic and microeconomic standpoint (chapter two). It then presents the framework that is used to explain the identified performance gap (chapter three) and uses this framework in (chapter four) to claim that the lack of private sector dynamism in MENA is not necessarily due to insufficient reforms, but rather to the discretionary way in which rules and policies are implemented, and the lack of credibility of governments to really level the playing field when applying their policies and reforms. Part two then illustrates how this issue of poor implementation of the policies translates in three key policy areas in the business environment of the region: access to finance (chapter five), access to land (chapter six), and the conduct of industrial policies (chapter seven). The aim is to show how the role of the state and its institutions...

The limits of delegation : veto players, central bank independence, and the credibility of monetary policy

Stasavage, David; Keefer, Philip
Fonte: London School of Economics and Political Science Research Publicador: London School of Economics and Political Science Research
Tipo: Article; PeerReviewed Formato: application/pdf
Publicado em //2003 EN; EN
Relevância na Pesquisa
45.89%
Governments unable to make credible promises hinder economic development and effective policy making. Scholars have focused considerable attention on checks and balances and the delegation of authority to independent agencies as institutional solutions to this problem. The political conditions under which these institutions enhance credibility, rather than policy stability, are still unclear, however. We show that checks – multiple veto players – enhance credibility, depending on the extent of uncertainty about the location of the status quo, on how agenda control is allocated among the veto players, and on whether veto players have delegated policy making authority to independent agencies. In the context of monetary policy and independent central banks, we find evidence supporting the following predictions: delegation is more likely to enhance credibility and political replacements of central bank governors are less likely in the presence of multiple political veto players; this effect increases with the polarization of veto players.

The institutional politics of Central Bank Independence in France, Greece and the U.K.

Skoularikis, Panayiotis
Fonte: London School of Economics and Political Science Thesis Publicador: London School of Economics and Political Science Thesis
Tipo: Thesis; NonPeerReviewed Formato: application/pdf
Publicado em //2001 EN
Relevância na Pesquisa
45.84%
This thesis analyses the politics of making central banks independent within the European Union. Unlike other studies that focus solely on the economics of the debate, this study also concentrates on the political aspects of the reform through an institutional approach. It examines the interaction of interests, institutions and ideas in the process of reforming one of the most essential organs in the process of economic policy-making. The research concerns the attempts of governments of three member-states of the European Union - France, Greece and the U.K. - which signed the same Treaty, but which nonetheless followed different paths in implementing Central Bank Independence (CBI). The thesis aims to explain the differences between the three cases about the considerations of CBI, the exact timing of introducing the reform and the particular models of independence chosen. This study suggests that there are three main variables which shaped and influenced why, when and how the three member-state governments implemented CBI in the 1990s. Those variables are the position of the country within the international political economy, the established rules and processes of political competition, and finally the traditional patterns of post distribution and democratic control. The first variable mainly explains the interest and attitude towards CBI...

Small and medium-scale producers' use and credibility of information sources: Implications for public extension's financial sustainability

Afful,D. B.; Lategan,F. S.
Fonte: South African Journal of Agricultural Extension Publicador: South African Journal of Agricultural Extension
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/01/2014 EN
Relevância na Pesquisa
45.84%
Farm management information is vital for farm decision making. Identifying the dominant source of such information used by producers, its credibility and users' acceptance to contribute towards the operational costs of the delivery of services is important, considering the persistent financial problems facing public extension organizations world-wide, including South Africa. Governments have, therefore, embarked on many funding arrangements to ensure financial sustainability of public extension organizations. This paper assesses the extent of farmers' use of the public extension service relative to other sources of farm management information and its perceived credibility on users' acceptance to pay for the delivery of public extension visits. The findings presented here are based on a non-probability survey of medium-scale commercial crop farmers conducted between 1 September and 7 October 2010 in three districts of the Free State Province, South Africa. The findings show that public extension was the dominant information source for most production activities for most farmers. In contrast, most farmers depended more on their own experience/records for information on marketing, financial and environmental decisions. This notwithstanding...