The International Handbook of Public Financial Management (eBook)

Richard Allen is an economist and public finance expert. He is currently working as a consultant with the World Bank. Richard was a senior official of the U.K. Ministry of Finance (H.M. Treasury) until 1995. Subsequently, he worked with the OECD in Paris, the Asian Development Bank, the World Bank, and the IMF's Fiscal Affairs Department. Richard is the co-editor of a standard reference book on Managing Public Expenditure: a Reference Book for Transition Countries, OECD, 2001—and several other books and articles on public financial management. He has advised governments in more than 50 countries on strengthening their budget systems and public finances. Richard Hemming is an economist and fiscal policy expert with wide-ranging industrial and developing country experience. He is currently Visiting Professor at the Duke Center for International Development, and a consultant for the World Bank. He worked for 24 years in the IMF, and was Deputy Director of the Fiscal Affairs Department until August 2008. Prior to joining the IMF, Richard worked at the OECD and, before that, was a researcher at the Institute for Fiscal Studies in London, and a university lecturer in the U.K. and Australia. He has published widely on tax, social security, public expenditure and other fiscal issues. Barry Potter is an economist and public finance expert with wide ranging experience in the U.K. government, consulting and the IMF. He was a senior official in the U.K. Cabinet Office and H.M. Treasury in the 1980s, and Private Secretary to the British Prime Minister (Mrs. Thatcher) from 1990-1992. Subsequently, Barry worked in the Fiscal Affairs Department of the IMF, where he was Division Chief for Public Financial Management, later becoming Director of the Fund's Office of Budget and Planning in 2001, and the IMF's Special Representative to the United Nations in 2007. He is the author (with Jack Diamond) of Guidelines for Public Expenditure Management, International Monetary Fund, 1999, and several other publications.

IntroductionPART I: THE INSTITUTIONAL AND LEGAL FRAMEWORK The Macroeconomic Framework for Managing Public Finances in a Global EnvironmentFiscal Rules and Public Financial ManagementThe Legal Framework for Public Finances and Budget SystemsPolitical Economy Aspects of Managing Public FinancesRole, Responsibilities and Structure of Central Finance AgenciesRole of the Legislature in Budget ProcessesStrengthening Performance in Public Financial ManagementPART II: ALLOCATION OF RESOURCES The Coverage and Classification of the BudgetPolicy Formulation and the Budget ProcessMedium-term Fiscal and Expenditure FrameworksManaging for Results and Performance Budgeting Fiscal Federalism and Intergovernmental Financial RelationsPART III: MANAGING BUDGET EXECUTIONThe Budget Execution Cycle Public ProcurementManaging Government PayrollThe Treasury Function and Treasury Single AccountsInternal Control and Internal Audit Managing Extra-budgetary FundsPART IV: MANAGING GOVERNMENT REVENUESTax Design from a Fiscal Management PerspectiveRevenue Forecasting Efficient Revenue Administration Customs Administration User Charges and EarmarkingManaging Natural Resource Revenues Managing External Aid PART V: LIABILITY AND ASSET MANAGEMENTGovernment Balance SheetsPublic Investment Management and PPPsManaging Fiscal RisksSovereign Wealth FundsLong-term Obligations and Generational AccountingCash Management and Debt ManagementManaging State-owned Enterprises PART VII: ACCOUNTING, REPORTING AND OVERSIGHT OF PUBLIC FINANCESStrengthening Fiscal Transparency Government Accounting Standards and Policies Government Financial Reporting Standards and Practices Financial Management Information Systems External Audit Role of Independent Fiscal AgenciesAbout the Editors and ContributorsGlossary ReferencesIndex