Assessing International Fiscal and Monetary Transparency : The Role of Standards, Knowledge Management and Project Design

The IMF has been leading efforts to develop and implement Codes of Monetary and Fiscal Transparency. Such Codes aim to increase disclosure of public sector information on the Internet-representing a type of "e-transparency." Do such codes and increased Internet-based public sector information achieve their objectives? Much e-government theory sees electronic presence and e-transparency as a first step toward transformationary e-government. Yet, e-transparency itself represents a transformation in e-government. This paper will first describe the results of a private-sector based assessment of fiscal and monetary transparency and report cross-country ratings. Second, it will describe a new method of assessment which emphasizes the role of knowledge management and the critical role played by assessment project design. Lastly, this paper will discuss the extent to which such e-government efforts aimed at greater transparency achieve broader objectives -- such as increased trust, predictability, credibility, oversight, and political accountability in the public sector. The lessons in this paper are applicable to governments engaged in promoting and assessing transparency as well as corporations