The International Handbook of Public Financial Management

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.

Introduction
PART I: THE INSTITUTIONAL AND LEGAL FRAMEWORK
The Macroeconomic Framework for Managing Public Finances in a Global Environment
Fiscal Rules and Public Financial Management
The Legal Framework for Public Finances and Budget Systems
Political Economy Aspects of Managing Public Finances
Role, Responsibilities and Structure of Central Finance Agencies
Role of the Legislature in Budget Processes
Strengthening Performance in Public Financial Management
PART II: ALLOCATION OF RESOURCES
The Coverage and Classification of the Budget
Policy Formulation and the Budget Process
Medium-term Fiscal and Expenditure Frameworks
Managing for Results and Performance Budgeting
Fiscal Federalism and Intergovernmental Financial Relations
PART III: MANAGING BUDGET EXECUTION
The Budget Execution Cycle
Public Procurement
Managing Government Payroll
The Treasury Function and Treasury Single Accounts
Internal Control and Internal Audit
Managing Extra-budgetary Funds
PART IV: MANAGING GOVERNMENT REVENUES
Tax Design from a Fiscal Management Perspective
Revenue Forecasting
Efficient Revenue Administration
Customs Administration
User Charges and Earmarking
Managing Natural Resource Revenues
Managing External Aid
PART V: LIABILITY AND ASSET MANAGEMENT
Government Balance Sheets
Public Investment Management and PPPs
Managing Fiscal Risks
Sovereign Wealth Funds
Long-term Obligations and Generational Accounting
Cash Management and Debt Management
Managing State-owned Enterprises
PART VII: ACCOUNTING, REPORTING AND OVERSIGHT OF PUBLIC FINANCES
Strengthening Fiscal Transparency
Government Accounting Standards and Policies
Government Financial Reporting Standards and Practices
Financial Management Information Systems
External Audit
Role of Independent Fiscal Agencies
About the Editors and Contributors
Glossary
References
Index